Ferrous scrap Prices Reference date: February 1, 2021
UsA domestic scrap Prices* (US$/GRT)
HMS 1 heavy steel scrap (1/4 Inch) composite price delivered at mills
Source: Davis Index
Source: Davis Index
UsA Export Prices* (US$/GRT)
HMS 1, heavy steel scrap (1/4 Inch)
Composite sales Price
ex yard in Germany** (€/t)
E3/European Standard Quality No. 3, heavy old steel scrap (>6mm)
CFR Prices for shipments
from EU to Turkey (US$/t)
HMS 80/20 heavy steel scrap
– Fob East Coast price
– Fob West Coast price
J F M A M J J A S O N D J
280 250 246 222 199 225 219 223 231 230 259 306 389
280
250 246
222
199
225
219
223 231 230 259
306
389
150
200
250
300
350
400
J F M A M J J A S O N D J
J F M A M J J A S O N D J
270 250 225 229 233 246 244 264 278 266 298 403 441
250 230 223,6 211 235 223 231 269 282 271 298 399 446
270
250
225 229 233
246 244
264
278
266
298
403 441
250
230
223,6
211
235
223 231
269
282
271
298
399
446
150
200
250
300
350
400
450
500
J F M A M J J A S O N D J
J F M A M J J A S O N D J
300 279 276 239 240 252 261 271 277 267 315 419 458
300
279
276
239 240
252
261 271
277
267
315
419
458
180
230
280
330
380
430
480
J F M A M J J A S O N D J
J F M A M J J A S O N D J
233,3 214,2 216,5 199,5 209,1 203,3 195,1 204,3 214,4 216,3 221,5 253,3 338,5
233,3
214,2
216,5
199,5
209,1
203,3
195,1
204,3
214,4
216,3
221,5
253,3
338,5
150
200
250
300
350
J F M A M J J A S O N D J
‘Vietnam’s 2020 ferrous scrap imports
increased by 11% to 6.27 million
tonnes, according to customs data,’ it
says. ‘Imports from its main supplier
Japan climbed to 3.4 million tonnes,
making Vietnam the biggest consumer
for Japanese scrap in 2020, a position
previously claimed by South Korea.’
Crude steel output in January-
November increased by 44% to 26.6
million tonnes. Vietnam also exported
nearly three million tonnes of semi-fin-
ished product to China in 2020, more
than seven times the 2019 volume,
reports Argus.
Japanese scrap exports, meanwhile,
rose to all-time highs. Official customs
data shows Japan exported 8.64 mil-
lion tonnes of steel scrap in January-
November 2020, up by 25.4% year-
on-year.
Other national reports suggest times
may still be tough in some quarters. In
the UK, for example, an analysis by
IBISWorld suggests the coronavirus
pandemic is expected to contribute to
falling revenue in 2021 as demand
from key downstream manufacturing
and construction sector declines.
‘Rising operating costs, including
wages, rent and debt, have weighed
on margins over the current year,’ it
says. ‘Due to weaker demand, some
operators resorted to furloughing
employees during the peak of the
pandemic in an attempt to ease costs.
Sims Group UK furloughed 67% of its
workforce in April 2020, which was
then reduced to 50% in May 2020.’
On the other side, the renewed
strength of the Chinese economy has
been matched by higher demand for
Chinese goods, thereby creating a
shortage of containers and driving up
shipping costs.
market analysis
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44-45-46-47_maferrous.indd 46 01-02-21 13:51
