USA Nationwide Scrap Prices September 2022 and Other News

 Latest nationwide scrap metal prices as provided by American Recycler

In other scrap metal recycling news:

Recession Fears Ramp Up Pressure on Industrial Metals Market - MetalMiner

MetalMiner

MetalMiner Insights provides in-depth price forecasts and easy-to-follow should-cost models for industrial metals like steel, aluminum and copper.

Courtesy YIEH - Yusco & Tang Eng expected to raise 300 series stainless steel prices by NT$8,000/ton for Oct

26 Sep 2022 16:35 reported by Joy Liu

Due to the production halt at South Korea's POSCO caused by a fire accident and the rising nickel prices, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, were expected to raise their stainless steel prices for October this week.

Among them, the price for 300 series products had a possibility to be hiked by NT$8,000/ton, which will improve the companies’ performance in operations.

The LME nickel price has been revised sharply since May. With the concern of economic recession caused by global inflation and lower willingness to invest owing to US interest rate hikes, downstream stainless steel processing industries slowed down their procurement after considering costs and market prospects, resulting in Yusco and Tang Eng’s adjustment in their pricing strategies since then.

World scrap prices for the week of September 19-26, 2022, recovered to $365/t - Suppliers in the Turkish market are expecting an increase in quotations.  Prices for HMS 1/2 scrap on the Turkish market for the week of September 19-16, 2022, increased by $10 compared to the previous week – up to $365/t. For remainder of article visit GMK

Ship Breaking Recycling Prices Update and Other News

 Ship Recycling Prices (GMS Weekly)

While activity seemed as though it had been steadily increasing going into the final quarter of the year, the last couple of weeks have sent mixed signals as to whether the 4^th quarter will actually be better for the ship recycling sector (as many have been anticipating).

 

Couple of weeks ago, we saw currencies plummet in Pakistan and Bangladesh to the point, a wait-and-watch attitude encompassed both markets – at least until the first sale to a local Recycler establishes the new baseline for a type of unit in that market.

 

This week, it was local steel plate prices across the sub-continent board that declined to varying degrees, subsequently adding even more pressure on a potential ship-recycling resurgence for Q4.

 

Mixed in with the fact that there are still, very few candidates that have headed to sub-continent shores over the previous two quarters and sub-continent markets have – as a result - witnessed a gradual buildup of demand over this time, especially as plots and port reports empty out to eerily quiet levels (especially in Pakistan, which has not seen a fresh arrival at the waterfront for nearly 2 months now).

 

We have not seen recycling markets as dormant for many a year, as all freight sectors push on and Ship Owners are opting to continue trading, rather than getting rid of their older assets.

 

As Dry Bulk and Container rates continue to cool off, it may be that we see a few more vessels from these sectors before the year is out. Tankers too have seen a remarkable turnaround of late, with VLCCs finally seeing some positivity after years in the doldrums. The main supply of tankers that we have seen come for recycling over the last few years is therefore likely to dry up for the foreseeable future.

 

Prices remain stationed at or just below the USD 600/LDT threshold, although there are still difficulties in getting vessels sold / delivered into Pakistan (due to a constantly depreciating currency) and in Bangladesh, due to tough government imposed L/C restrictions that are still in place there for any large US$ value transactions.

 

For week 38 of 2022, GMS demo rankings / pricing for the week are as below.

 

 

Demo Rank	Location	Sentiment	Dry Bulk USD / LDT	Tankers USD / LDT	Containers USD / LDT
1	Bangladesh	Weak	570 / LDT*	580 / LDT*	590 / LDT*
2	India	Weak	560 / LDT	570 / LDT	580 / LDT
3	Pakistan	Weak	550 / LDT	560 / LDT	570 / LDT
4	Turkey	Weak	240 / LDT	250 / LDT	260 / LDT

 

 

 For the full report go to GMS WEEKLY

Other news

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Recycling and Scrap News Summary 9 21 2022

 

European steel buyers seek direction in volatile market

21st September 2022

Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the future direction of the market. 

European steel buyers returned cautiously to the market, as the traditional summer break extended into early September. Inventory levels remain relatively high, for current demand. Sensing that the bottom of the current cycle had been reached, however, some purchasers placed orders for small quantities, to reduce their average stock value. 

European steel prices continued to decline, last month. In late August and early September, the mills started to announce increases, in line with rising costs, across the carbon steel product range. These efforts were against the background of spiralling international energy values. 

Major steel manufacturers led the way. Their efforts, initially, were undermined by certain producers seeking to fill their order books. Large, proposed increases were accompanied by a willingness to negotiate, or to extend the validity of previous prices, to their regular customers who had just returned from holiday. This eroded buyers’ confidence in the strength of such moves. 

As order books weaken, steel mills are aligning production to apparent demand. Capacity cuts have been implemented, although perhaps not soon enough. Several blast furnaces have been taken offline, for extended periods. Rerollers are restricting production to night-time and weekend working, to control electricity consumption. As a consequence, delivery lead times are once again extending, rather than contracting. 

SOURCE MEPS

California governor signs bills expanding e-scrap recycling

Resource Recycling

Governor Gavin Newsom at podium. Under California's SB 1215, consumers will be required to pay an electronic waste recycling fee upon the purchase of 

Copper Prices: Resistance and Demand Zones Solidify - MetalMiner MetalMiner And while prices traded sideways in MetalMiner's September Monthly Metals Index, the potential for future price increases remains high

Ship Recycling Scrap Prices and News Update

 

Ship Scrap Recycling

While the recycling industry seemed to witness some activity surfacing from the sub-continent markets last week, this week turned into a currency frenzy in both, Bangladesh and Pakistan, as the summer of minimal activity and sales seems as though it will sluggishly drag on.

 

Both locations reportedly experienced a sharp decline in their domestic currencies within the week, leading to more confusion & caution in the sub-continent and this could take a week (or more) of a ‘watch-and-wait’ attitude to see where post-currency-crash vessel pricing will eventually land.

 

It was the Indian market that remained the only (sub-continent) recycling destination where demand and fundamentals remained ironically stable through the course of the week, despite the ongoing (domestic) plate price volatility that has beset itself as an enduring reality.

 

West end of things, the Turkish market suffered another decline in local plate prices this week, ensuring local sentiment remains disinterested & depressed and would seemingly remain so, for some time ahead.

 

On the supply side, even as dry bulk charter levels cool off, the industry has still not witnessed a deluge of dry units being introduced for recycling, despite a collection of 90s built units that are still operating on various trades and this is where much of the supply is expected to come from as we head into the fourth quarter of the year.

 

There is also the expectation that containers will return for recycling at some stage, as charter rates have also come off from some of the historical highs seen over this latest bull run.

 

As such, the question as to whether it may be as busy an end to the year is up in the air, at least until pricing chart below eventually re-adjusts to the new realities on the ground.

 

For week 37 of 2022, GMS demo rankings / pricing for the week are as below.

 

 

Demo Rank	Location	Sentiment	Dry Bulk USD / LDT	Tankers USD / LDT	Containers USD / LDT
1	Bangladesh	Weak	570 / LDT*	580 / LDT*	590 / LDT*
2	India	Weak	560 / LDT	570 / LDT	580 / LDT
3	Pakistan	Weak	550 / LDT	560 / LDT	570 / LDT
4	Turkey	Weak	240 / LDT	250 / LDT	260 / LDT

 

 

  

To read the remainder of the report please visit GMS WEEKLY, 

Other News

Copper slips on gloomy demand prospects ahead of Fed rate decision | Kitco News

KITCO

Higher U.S. rates mean a stronger U.S. currency. That makes dollar-priced metals more expensive for holders of other currencies, which would further

Polish rebar factories offer discounts to stimulate the market - GMK Center

GMK Center

This is the reason for the weak activity of these steel products' buyers. Rebar prices in Poland are also under pressure from the drop in scrap metal ...

USA Scrap Metal Prices Update

 Current scrap metal prices in the USA are:

Aluminum Scrap Price

Extruded Aluminum $ 0.80 per lb

60/61 Aluminum $ 0.60 per lb

Brass Scrap Price

Yellow Brass $ 2.00 per lb

Red Brass $ 2.20 per lb

Copper Scrap Price

Bare Bright Copper (Bare Bright Copper Wire) $ 3.05 per lb

#1 Copper $ 2.90 per lb

#2 Copper $ 2.70 per lb

Wire Scrap Price

High Recovery 90% or more (Big Wire) $ 2.75 per lb

#1 Insulated (Size 10 and 12 THNN) $ 2.25 per lb

#1 Insulated (Romex) $ 1.80 per lb

#2 Insulated (Cat 5 or Cat 6) $ 1.30 per lb

Source: Astro City Scrap - TX USA

Ferrous Scrap Metal prices

All ferrous scrap metal is processed, graded, and priced per gross ton (GT=2,240 lbs)

Drums & Rotors $225./GT    |   #1 Prepared  $150./GT

#1 Unprepared  $120./GT     | Light Iron $100./GT

Non Ferrous Scrap Metal prices

All non ferrous scrap metal is processed, graded, and priced per pound. (LB=pound)

Clean Copper $2.65/LB

Clean Yellow Brass $1.55/LB

Aluminum Sheet $.40/LB

Cast Aluminum $.40/LB

Lead $.40/LB

Lead Acid Batteries $.10/LB

Source: Mid City Scrap - MA, USA

Ship Recycling Update and Other Scrap Metal News

 

Ship Recycling News

Following the sale of Capesize bulkers for recycling last week, the trend has continued this week as well, with further transactions reportedly taking place on units – including Capes and a Suezmax tanker, as the market finally shows signs of life after an absolutely inert summer.

 

All of the major Ship Recycling destinations are still poised rather precariously, and Pakistan has seen some further depreciations on the currency towards the end of this week, whilst the country continues to battle floods, shortage of essentials, and the increasing spread of water-borne diseases, as thousands have perished in the floodwaters. Bangladesh too remains somewhat tentative, with limits on higher dollar value L/Cs still in place, local steel plate prices that took a noteworthy dive this week, and a Taka that seems to have found its stable place this week.

 

India has experienced (marginally less) volatile moves on steel across the week and remains the safest destination to deliver at present. Following an incredibly quiet 3 - 4 months of inactivity, there are signs of demand gearing up across sub-continent locations as most plots lie nearly dormant. Lastly, the Turkish market faces its own dithers this week, with further declines on fundamentals that are burying sentiments even further into the rut.

 

Overall, chartering markets have deprived recycling destinations of most tonnage, but Dry Bulk has recently started to cool off (particularly the Capesize Bulker sector), whilst Containers are also showing signs of softening, all while Tanker rates continue to shoot onwards and upwards.

 

It should hopefully be a busier finish to the year, as Owners look to capitalize on these still firm levels, despite the USD +100/LDT fall we have seen since the peaks of earlier this year. Rates in and around USD 550 – USD 600/LDT are still incredibly firm, given the lows we had witnessed of USD 250/LDT or so, during the early stages of the Covid pandemic.

 

For week 36 of 2022, GMS demo rankings / pricing for the week are as below.

 

 

Demo Rank	Location	Sentiment	Dry Bulk USD / LDT	Tankers USD / LDT	Containers USD / LDT
1	Bangladesh	Weak	570 / LDT*	580 / LDT*	590 / LDT*
2	India	Weak	560 / LDT	570 / LDT	580 / LDT
3	Pakistan	Weak	550 / LDT	560 / LDT	570 / LDT
4	Turkey	Weak	240 / LDT	250 / LDT	260 / LDT

 

 

 

  

To read the remainder of the GMS WEEKLY, please visit.

 

Other Metal News

Metal Prices in Decline - Supply Fears Heighten - MetalMiner

MetalMiner - After powering to new highs in the Spring, metal prices continue to slide. Iron ore, aluminum, and copper have all fallen to varying degrees

Taiwan's Feng Hsin keeps rebar, scarp, section steel prices flat this week - Yieh Corp Steel News

Yieh Corp Steel News - Feng Hsin indicated that there were no quotations for the US' scrap shipment last week. Meanwhile, Australia's iron ore price increased by 9.09% .

Current Scrap Metal Prices North Carolina USA

 

9/10/2022 - Current scrap metal prices in North Carolina, USA

Non- Ferrous Scrap Metal Pricing Per Pound

Bare Bright Copper $2.85

#1 Copper $2.75

#2 Copper $2.50

Light Copper $2.40

#1 Insulated $1.50

#2 Insulated $.80

#2 Insulated - Low Grade $0.45

Yellow Brass $1.75

Radiators - Clean/Irony $1.80/1.00

Copper Alum Rads $1.30/1.00

Sheet/Cast Aluminum $0.50

MLC $0.60

Extruded/EC $0.60

Aluminum Cans $0.60

Alum Wheels $0.70

Irony Aluminum $0.15

Stainless $0.25

Lead Acid Batteries $0.18

Compressors $.15

Electric Motors $.15

Prices Subject to Change 8/5/22

Ferrous Scrap Metal Per Hundred Pounds

Shred Steel $4.50

Cast Iron $6.50

Automobiles $6.50+ $5.00/Alum Rim

Source Biltmore Iron & Metal Co.

Ship Breaking Market and Scrap Metal Recycling Prices Updates 9 6 2022

 

September 6, 2022 - Activity and availability of sales candidates seem to be finally starting to increase as we enter the month of September and the fourth (and final) quarter of the year.

 

Dry bulk (and particularly Capesize bulker) rates have declined noticeably of late, and this is seeing an increasing number of enquiries on dry units starting to come forth for a potential sale for recycling. This increase couldn’t have come at a better time as local demand for tonnage has been gradually ramping up again, after an extremely quiet summer / flooded monsoon.

 

Pakistan has been beset by catastrophic flooding over the past week, with thousands of people losing their lives and millions displaced. In fact, some international media have been reporting that nearly one-third of the country is currently underwater. As such, calls for urgent humanitarian aid have reached the international community this week, with the situation becoming increasingly dire.

 

Bangladesh is still struggling with L/Cs with any transaction valued at over USD 2 – USD 3 million needing Central bank approval, which is ensuring that most large LDT / higher value candidates are being diverted to competing markets and even the lower placed India, as Cash Buyers and Ship Owners both do not want to run the risk of getting stuck there, especially when levels have already fallen so much.

 

India remains the most resilient market and is now becoming the go to destination (albeit at lower prices) for shipowners wishing to get their vessels delivered comparatively hassle and headache free, be it at a lower price.

 

Finally, the Turkish market remains marginally changed from last week, as import steel and the Turkish Lira both report decreases during the week, all while local sentiments remain in the doldrums.

 

For week 35 of 2022, GMS demo rankings / pricing for the week are as below.

 

 

Demo Rank	Location	Sentiment	Dry Bulk USD / LDT	Tankers USD / LDT	Containers USD / LDT
1	Bangladesh	Weak	570 / LDT*	580 / LDT*	590 / LDT*
2	India	Weak	560 / LDT	570 / LDT	580 / LDT
3	Pakistan	Weak	550 / LDT	560 / LDT	570 / LDT
4	Turkey	Weak	240 / LDT	250 / LDT	260 / LDT

Click here to read the remainder of the GMS WEEKLY