Current scrap metal prices update –
According to region, Pittsburgh’s H1 scrap price was at US$299.50/long ton; Chicago’s H1 scarp price was at US$312.50/long ton; Philadelphia’s H1 scarp price was at US$273.50/ long ton, above three area were unchanged compared with last week.
Due to Turkey is the biggest import country of scrap in the world, Turkey’s scrap and rebar prices related to American’s buyers. According to sources said that some buyers reduced risk through sets the basic metal price at around 30~40%.
According to London Metal Exchange showed that the volume of contract trading in Jan– Feb 2017, including HI/II (80:20) scrap and rebar totaled around 563,860 tons. This is almost equivalent to the annual trading volume in 2016.
Source Iron Mike – below prices show market and prices paid by this scrap dealer
SCRAP METAL STEEL PRICES
Scrap #1 Busheling $170 gt $135 gt
Scrap #1 Baling $160 gt $115 gt
Scrap #2 Baling $145 gt $100 gt
Scrap Plate and Struct 2’x 5′ $170 gt $130 gt
Scrap Plate and Struct scrap (unprep) $130 gt $90 gt
Scrap Heavy Melt 2’x 5′ $140 gt $100 gt
Scrap Heavy Melt scrap (unprep) $120 gt $80 gt
SCRAP METAL COPPER AND BRASS PRICES
Scrap Bare Bright Copper $2.05 lb. $1.90 lb.
Scrap #1 Copper $1.99 lb. $1.75 lb.
Scrap #2 Copper $1.75 lb. $1.60 lb.
Scrap insul Hvy #1 copper Wire 85% Recovery $1.35 lb. $1.20 lb.
Scrap insulated Light Wire 50% Recovery $0.62 lb. $0.40 lb.
Scrap EDM Wire $1.30 lb. $1.14 lb.
Scrap Brass (hard) low lead $1.50 lb. $1.34 lb.
Scrap copper Rads $1.20 lb. $1.06 lb.
Scrap Brass (red) $1.41 lb. $1.26 lb.
Scrap Brass (yellow) $1.30 lb. $1.20 lb.
From the LME
One million reasons to trade ferrous – The total tonnage traded for LME Scrap and LME Rebar passed the 1 million mark recently. That’s enough to fill 100 fair-sized break bulk ships. In fact, half of those million tonnes were traded in the last two months alone, as interest in our ferrous contracts ramps up.