Bidding begins on November 18, 2009

Lot 8403 – LOT (7)PLTS, METAL BEAM FEATURES INCLUDES, MOUNTING STUDS, 9′ IN LENGTH AND HEAVY DUTY CONSTRUCTED BODY, MUTILATION NOT REQUIRED.  – Comnavmarinas Base, GM

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Lot 6560 – LOT (250, 380 LBS)APPROX LIGHT AND HEAVY STEEL WITH FERROUS AND NON FERROUS ATTACHMENTS – Fort Stewart, GA

Lot 7650 – LOT (300, 000 LBS) APPRX OF LIGHT AND HEAVY SCRAP STEEL WITH FOREIGN ATTACHMENTS TERM CONTRACT SALE – Holloman AFB, NM

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Lot 7050 – LOT (800, 000) APPROX LBS, UNPREPARED LIGHT AND HEAVY IRON, UNPREPARED LIGHT AND HEAVY STEEL – Ft. Leonard Wood, MO

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Event 7466

Lot 8930 – LOT (50, 000 LBS) APPROX IRON AND STEEL, LIGHT AND HEAVY, UNPREPARED. PERIOD OF PERFORMANCE IS 6 MONTHS. – Herlong, CA

Lot 7050 – LOT (800, 000) APPROX LBS, UNPREPARED LIGHT AND HEAVY IRON, UNPREPARED LIGHT AND HEAVY STEEL – Ft. Leonard Wood, MO

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Lot 7650 – LOT (300, 000 LBS) APPRX OF LIGHT AND HEAVY SCRAP STEEL WITH FOREIGN ATTACHMENTS TERM CONTRACT SALE – Holloman AFB, NM

Lot 8100 -LOT (500, 000 LBS) APPROX LIGHT AND HEAVY STEEL WITH FERROUS AND NON FERROUS ATTACHMENTS – Barstow, CA

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In Far East the price for the US scrap decreased to $285 per tonne from $300 per tonne. Japanese H2 scrap is purchased by Taiwanese and Korean companies at $290 per tonne CFR and less.

In Japan domestic quotations for scrap fell by 30% in recent two months due to the drop of Chinese import almost to zero level.

Tokyo Steel Manufacturing Company again decreased purchasing prices for scrap since October 16 to JPY 21500 to JPY 23500 with delivery.

In the US the prices for main kinds of scrap decreased by $10 per tonne to $20 per tonne as compared with early October.

The main cause of the prices drop is the absence of serious purchases in Turkey and China, the countries which were the biggest scrap importers in the first three quarters of 2009. By now China almost stopped scrap importing due to domestic steel products prices decrease. Turkish companies which had to reduce steel melting volumes, buy small amounts of scrap. American and European companies have stopped making scrap stockpiles. They are to return to the market in January.

The fall in scrap market happened by the same reasons as steel products prices decrees. The main reason is steel overproduction caused by too optimistic expectations of the crisis finish by the end of current year and according steel prices increase. Metallurgical companies started buying raw materials in July to August, preparing for market recovery. This caused scrap shortage and scrap prices increase to about USD 320 per tonne CFR in Turkey and to mere than USD 350 per ton CFR Eastern Asia. Now steel makers use these excessive scrap stockpiles and they have all opportunities for operating for a fall.

Scrap prices decrease in Eastern Asia countries can return China into the market. Domestic prices for scrap similar to HMS No 1 reach USD 350 per tonne and more with delivery in Eastern provinces. At the decrease of import prices to USD 290 per tonne CFR and less such transactions become profitable for Chinese traders despite of the crisis.

Thus, there is big possibility that scrap prices decrease in Mediterranean will stop at the point of $230 per tonne to $250 per tonne CFR Turkey; in Far East region at $280 per tonne to $290 per tonne CFR China.

This site provides current and historical scrap metal pricing for steel, iron and HMS at SCRAP STEEL HMS AND IRON PRICES

It now looks that recession has cast a long shadow over shipping business too which includes cruises. This can be seen from the arrivals at Alang, which has about 125 vessels from the international shores lined up for ship breaking this year had only 40 vessels in the whole of last year for ship breaking.

The increase in the ship breaking activity is believed be fallout of the shrinking export-import business and falling freight rates.

According to estimates, more than 600 ships are available for breaking in the international market due to the present recessionary scenario. Each of these ships weighs about 10,000 tonnes to 30,000 tonnes depending upon the capacity. In the wake of this fact, the ship breaking yard is estimated to recover nearly 12 lakh tonnes of scrap steel this year, which is almost double than the previous year.

With the increased availability of scrap steel, which is cost-effective input for rolling mills, the small mills would be able to reduce rebar price. However, as per the latest data released by Joint Plant Committee, Ministry of Steel, Indian consumption of finished steel during April 2008 to January 2009 was 42.321 million tonnes down by 2% YoY as compared to 43.175 million tonnes in April 2007 to January 2008, which may create a negative sentiment for the steel prices in coming days.

In addition to it, with government’s proposal to allow HRC imports without licensing requirements may lead to a further fall in the domestic steel prices. However, experts believe that there would be a positive run in the steel sector during next few weeks as there is a positive feeling among the investors on the basis of Central Government’s directions to the state governments to speed up development related infrastructure projects to combat unemployment and job loss.

Steel ingots February contract surged by 0.4% to Rs.22710/MT as short covering was observed in the market, while LME 3M forward steel billets remained unchanged at USD 310 a tonne. The steel stocks stayed firm on the Indian bourses.

Source: www.commodityonline.com

Productions cuts by some mills in the region could help to stabilise the market by the end of 2008. A modest price revival is anticipated by the second quarter of 2009 as inventory rebuilding commences. However, low growth rates, predicted across many sectors next year, will limit advances in selling figures and could lead to reductions in the final few months of 2009.

Significant decreases in scrap and billet costs are predicted to lead to further declines in steel transaction values across all the long categories. Inventory levels are rising due to weakening demand. With fewer new projects anticipated over the coming months, consumption could continue to fall. This will prompt many customers to restrict purchases in the short term. Domestic mills are already cutting production in an effort to stem the downward price movement. However, this is unlikely to be enough to stop selling figures from drifting lower in the fourth quarter of 2008.

The current price cycle is forecast to reach the bottom early in 2009. Stability in scrap values is expected to return by this point, with possible rises in the first quarter. Distributors are likely to reassess their inventory levels, with a pick-up in buying anticipated after the Chinese New Year. Consequently, long products selling figures should move upwards towards the end of the first trimester. However, due to an uncertain global economy, a relatively modest upturn is anticipated.

Source: http://www.meps.co.uk/asia-price-forecast-10-08.htm

No.1 Steel (3 foot) – 409.50 ton USD
No.1 Steel (2 foot) – 429.00 ton USD
No.1 Steel (1 foot) – 409.50 ton USD
Special Plate Punchings – 468.00 ton USD
No.2 Steel (3 foot) – 366.60 ton USD
No.2 Steel (2 foot) – 370.50 ton USD
No.2 Steel (1 foot) – 374.40 ton USD
No.3 Steel (Prepared Bushling) – 341.25 ton USD
No.4 Steel (Prepared Silicon Bushling) – 302.25 ton USD
No.4 Steel (Bundled Silicon Bushling) – 308.10 ton USD
No.1 Shredded Steel – 526.50 ton USD
No.2 Shredded Steel – 507.00 ton USD
No.3 Shredded Steel – 438.75 ton USD
No.1 Bundles – 468.00 ton USD
No.2 Bundles – 429.00 ton

In Germany, the higher values that producers tried to enforce for September deliveries of some stripmill products were only accepted by a limited number of customers. Service centres have enough steel to cover current demand, which has weakened in several market sectors. There is now more ex-stock material available from the EU mills. Some quantities of Indian and Chinese imports have been ordered and should arrive in time for the final trimester. Negotiations with local suppliers for period four shipments are due to start later this month. We do not believe that any increases will be possible, despite such proposals by the steelmakers.

For remainder of article please go to http://www.meps.co.uk/keynote9-08.htm  

EU steel prices are currently at record levels after meteoric advances through the first half of 2008. The MEPS hot rolled coil average transaction value has climbed by €310 per tonne since the low recorded in January of this year. This represents an increase of approximately 65 percent, or almost $US500 per tonne at the current exchange rate. MEPS estimates that the growth in raw material costs incurred by the mills is around $US350 (€225) per tonne, taking into account the new iron ore and coking coal contract prices. The local producers have recovered over and above the raw material cost rises. This, we feel, should signal the end of the large price hikes in the short term.

remainder of article can be found at http://www.meps.co.uk/keynote8-08.htm