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Ferrous Scrap Prices Reference date: April 9, 2020
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$/t)
HMS 80/20 heavy steel scrap
– Highest price
– Lowest price
– Fob East Coast price
– Fob West Coast price
M A M J J A S O N D J F M
320 305 272 247 242 260 225 195 215 250 280 250 246
320
305
272
247
242
260
225
195
215
250 250 246
150
200
250
300
350
M A M J J A S O N D J F M
M A M J J A S O N D J F M
304 290 282 272 278 260 222 217 198 223 270 250 225
317 310 290 280 273 222 245 225 188 198 250 230 223,6
304
290 282
272
278
260
222
217
198
223
270
250
225
317 310
290
280
273
222
245
225
188
198
230
223,6
150
200
250
300
350
400
M A M J J A S O N D J F M
M A M J J A S O N D J F M
309 303 282 279 292 270 228 223,5 260 280 270 251 206
317 310 310 298 300 275 250 240 262 303 300 279 276
309
303
282
279
292
270
228 223,5
260
280
251
206
317 310
310
298 300
275
250
240
262
303
279
276
200
250
300
350
M A M J J A S O N D J F M
M A M J J A S O N D J F M
253,3 252,8 242,4 236 231,1 231,3 203,9 172,1 201,7 219,6 233,3 214,2 216,5
253,3 252,8 242,4
236
231,1 231,3
203,9
172,1 201,7
219,6
233,3
214,2
216,5
150
200
250
300
350
M A M J J A S O N D J F M
then US$ 210 per tonne as the US
export market shrunk in response to
coronavirus, causing material supply
issues.
At the time of writing in early April,
prices had reached US$ 205 per
tonne ahead of a public holiday in
country.
COMPETING COMMODITIES
China’s General Administration of
Customs combined the data for
imports of iron ore into the country
during January and February, which
indicated they had risen 1.5% com-
pared with the same period in 2019. In
the first two months of the year, the
country imported 176.8 million tonnes
compared with 174.3 million tonnes a
year earlier. In December 2019, the
level of imports was 101.3 million
tonnes.
Restocking behaviour was led by mills
ahead of the week-long Lunar New
Year holiday in the country which start-
ed on 24 January, before it was
extended further to try to manage the
spread of coronavirus.
Prices for iron ore at the end of
February moved down from US$ 92
per tonne to US$ 83 according to the
62% Fe Iron Ore cfr price, published
by Fastmarkets, on growing fears
of the coronavirus spreading across
the globe, paired with the resulting
falling steel demand and thinning
margins.
Into March, prices moved up to
US$ 88 per tonne and then US$ 92 on
positive sentiment from newly
announced Chinese government sup-
port plans. Prices then entered a period
of stability with little change until late
March, with supply concerns of disrup-
tion in Australia due to the weather.
market analysis
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