Scrap Metal Recycling News and Spot Prices Update

Here is the latest scrap metal recycling news as well as updated spot market metal prices

Scrap Metal and Recycling News Summary

Editor's analysis: Are recyclables prices foreshadowing recession? - E-Scrap News Resource Recycling Maybe we should consult the recyclables price chart. Some individuals with decades of recycling market experience have been telling me that ...

Copper supplies can only cover less than 5 days of demand: Trafigura

Copper supply is dangerously low, according to top global commodities trader Trafigura. The firm's mineral and metals cochief said current...

Copper faces long-term shortage as demand outruns supply - MINING.COM

The copper market may swing to a deficit by the end of the decade as the energy transition accelerates and the metal becomes harder to dig...

Mill capacity cuts fail to deliver price aspirations

19.10.2022

In early September, European steelmakers were promoting significant price increases, to protect margins against soaring energy costs. This effort was supported by blast furnace shutdowns and other capacity cuts.

EU steelmakers plan to raise rolled steel prices in the first quarter of 2023 - GMK Center GMK Center Demand in the European market remains low due to reduced steel consumption and high inventories at distributors. The decline in coil prices in ... From Iron Mike Recycling SPOT PRICES UPDATED   10-15-2022 When demand is high, these percentages can increase 2-5% Copper “SPOT” Price @ $3.49 LB.   Aluminum “SPOT” Price @ $1.13 per lb.  Nickel “SPOT” Price @ $9.79 per lb.  Lead “SPOT” Price @ $ .93 cents per lb.

World Scrap Metal Prices News Update

Scrap Metal Prices News Summary

Copper Prices Move Sideways in Tight Range - MetalMiner

MetalMiner

Copper prices remain resilient amid global central bank rate hikes, ... The October Copper Monthly Metals Index (MMI) fell 5.59% from September to October, with all components experiencing declines. Still, future copper prices face a wide range of challenges.

Ethiopia: Scrap Metal will be Sold Exclusively to Steel Manufacturers, Government

2Merkato

Spare parts of out of service vehicles will be sold for Birr 51.25 per kilogram while the price of vehicles and machineries to be disposed of as scrap metal is Birr 51.25 per kilogram

As per Yieh.com - Feng Hsin Steel Co., Ltd., one of the major electric furnace mills in Taiwan, announced the new prices of its main products for this week. According to the price announcement, the purchasing price of scrap and the price of section steel was kept flat, while the price of rebar was up by NT$200/ton, reaching NT$20,200/ton. The hike in rebar prices was due to higher costs of scrap.

Feng Hsin said that there were no offers from the US scrap shipment last week. During the same period, the price of Japan’s H2 scrap and the US containerized scrap rose by 1.33% and 1.37% compared to the preceding week, respectively. Australia’s iron ore price fell by 3.29% week on week.

In other news - 

World scrap prices returned to decline after a 3-week rise. For the week of October 10-17, 2022, scrap quotations in Turkiye decreased by $3/t – to $365-370/t

HMS 1/2 scrap prices on the Turkish market for the week of October 10-17, 2022, decreased by $3/t compared to the previous week – to $365-370/t. Thus, scrap quotations returned to decline after a 3-week growth. Kallanish price indicator reports about it. More info at

Ship Recycling and Ferrous Scrap Metal Prices Update

We start off this report from GMS on the shipbreaking industry. 

Summary: Any vessels that were made available over the past few weeks have swiftly been withdrawn as recycling markets show an ineptitude to offer any sort of serious numbers, having seemingly forgotten how to buy ships after a prolonged period on the sidelines.

Consequently, there have been no market sales for another week, especially as freight markets continue to impress across all sectors and recycling markets remain unchanged, depressed, and starved of tonnage all at once.

 

Constant currency depreciations have been the chief culprit and there seems to be a lack of confidence to import vessels, with banks being much stricter on sanctioning precious U.S. Dollar Letters for Letter of Credit (L/Cs) for vessels for recycling.

 

Most yards in India, Pakistan Bangladesh, and even Turkey, are therefore lying idle and will be expected to remain that way (likely) for the rest of the year, with sentiments and levels so depressed across the board.

 

Demand for new vessels is firming, but at completely unworkable numbers for Owners and Cash Buyers alike, especially given the decent earnings that the majority of these ships continue to make.

 

For week 41 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	Pakistan	Weak	560 / LDT	570 / LDT	580 / LDT
3	India	Weak	550 / LDT	560 / LDT	570 / LDT
4	Turkey	Weak	240 / LDT	250 / LDT	260 / LDT

 

 

   *Small LDT

 

To read the remainder please visit GMS WEEKLY, 

 

Here are the latest scrap metal prices from Iron Mike Recycling

Steel clips: $160.00 GT       Yard Clips: $160.00 GT                                                                                                    

Prepared Plate & Structural: $210.00 GT                                                                                        Unprepared Plate & Structural: $160.00 GT                                                                   

Prepared Heavy Melt Steel: $170.00 GT                                                                            

Torching Material: $130.00 GT                                                                                               

Turnings: $70.00 GT                                                                                                                

Borings:    $70.00 GT                                                                                                               

AutoCast:  $200.00 GT                                                                                          

Shred-Sheet: $170.00 GT.                                                                                            

#2Baling: $190.00 GT                                                                                                       

Car Bodies: $160.00 GT

PRICES CAN AND WILL CHANGE WITHOUT NOTICE.  Please contact Iron Mike for current prices

Ship Breaking Prices and Other Scrap Metal News

 

Ship break and Scrap Metal Prices News Summary

Sentiments have softened across sub-continent markets once again this week, as Buyers appear increasingly reluctant to commit on fresh tonnage whilst fundamentals remain so shaky – especially as the markets have witnessed across the last couple of weeks, where currencies and steel plate prices took turns in tumbling.

 

Bangladesh has suffered a currency calamity of its own, coupled with declining steel plate prices and increased limits on establishing fresh L/Cs due to a dire shortage of U.S. Dollars in the country, most Chattogram Buyers are holding back or simply unable / unwilling to offer at all on any of the freshly proposed units.

 

India has lost about USD 80/LDT on steel prices over the last several weeks and despite gaining a marginal USD 5/Ton this week, remains under pressure as the lowest placed of all sub-continent markets once again. The Indian Rupee has also crossed the psychologically worrying Rs. 80 mark, leaving Alang Buyers as worriedly cautious as their competitors.

 

Finally, the Turkish market remains depressed and unchanged for yet another week.

 

The supply of tonnage in the sub-continent had started to marginally improve but remains relatively strained as all freight sectors continue to perform, leaving demo markets starved of vessels once again. Prices therefore remain stranded below USD 600/LDT for another week with little chance of crossing that psychological barrier any time soon. The tendency indeed seems to suggest that levels will cool off again (perhaps down to the low USD 550s/LDT) in worrying signs for the recycling markets once again.

 

For week 39 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	Pakistan	Weak	560 / LDT	570 / LDT	580 / LDT
3	India	Weak	550 / LDT	560 / LDT	570 / LDT
4	Turkey	Weak	240 / LDT	250 / LDT	260 / LDT

 

 

   *Small LDT

For more info visit GMS WEEKLY

SCRAP METAL NEWS

US ferrous scrap exporters increase bulk shipments in Sept: Commodities at Sea S&P Global Editor's analysis: Are bale prices foreshadowing recession? - Plastics Recycling Update Resource Recycling Some individuals with decades of recycling market experience have been telling me that recyclables prices offer clues about the trajectory  Steel Dynamics Completes Acquisition of a Mexican Metals Recycling Company - PR Newswire PR Newswire When combined with the company's existing Mexican metals recycling business, ... and major fluctuations in prices and availability of scrap metal Metal thefts happening more often in Wiltshire - Swindon Advertiser Swindon Advertiser Rates of metal theft fell from 2012-13 – around the time the Scrap Metal Dealers Act, was brought in to crack down on the trade in stolen metal .

VIDEO - The Difference Between Ferrous and Non-Ferrous Metals

VIDEO - 

The Difference Between Ferrous and Non-Ferrous Metals

 

Scrap Metal and Commodity News Summary 10 1 2022

 Scrap Metal and Commodity News Update 10 1 2022

Incoming US aluminum sheet capacity will necessitate more scrap recycling: panel

S&P Global

"Container deposits are the only program we have seen in the US that dramatically improve recycling rates for aluminum cans and other beverage ...

Tin Price Volatility in 2022 and Expectations for 2023 - MetalMiner MetalMiner However, buyer exhaustion soon overtook the market, leading to price drops. Like many metals, tin remains volatile for the moment, having bottomed ... Nickel Price: Could Indonesia Dominate Global Nickel Output? - MetalMiner MetalMiner Experts anticipate that nickel prices will remain sluggish for the foreseeable future. After the LME's (London Metal Exchange) nickel squeeze and Cumbria sees rise in metal theft in last year | News and Star News & Star Scrap metal prices have risen over the last year. According to recent figures Cumbria saw a rise in metal thefts last year. What goes up must come down - Recycling Today Recycling Today PET bale prices tumble just as quickly as they rose. ... Sunny Roe, senior analyst, plastic recycling, at ICIS, Houston, says the oversupply is .. FUTURES WRAP: LME scrap contracts see gains, near-term backwardation shifts into soft contango S&P Global Near term scrap futures contracts on the London Metal Exchange saw gains ... suggesting some futures traders expect scrap prices to strengthen