Page 58 from: Out now: the summer issue!
Ferrous Scrap Prices Reference date: July 1, 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$/t)
HMS 80/20 heavy steel scrap
– Highest price
– Lowest price
– Fob East Coast price
– Fob West Coast price
J J A S O N D J F M A M J
247 242 260 225 195 215 250 280 250 246 222 199 225
247 242
260
225
195
215
250
280
250 246
199
225
150
200
250
300
350
J J A S O N D J F M A M J
J J A S O N D J F M A M J
272 278 260 222 217 198 223 270 250 225 229 233 246
280 273 222 245 225 188 198 250 230 223,6 211 235 223
272
278
260
222
217
198
223
270
250
225 229
233
246
280
273
222
245
225
188
198
250
230
223,6
235
223
150
200
250
300
350
400
J J A S O N D J F M A M J
J J A S O N D J F M A M J
279 292 270 228 223,5 260 280 270 251 206 190 224 236
298 300 275 250 240 262 303 300 279 276 239 240 252
279
292
270
228
223,5
260
280
270
251
206
224
236
298
300
275
250
240
262
303 300
279
276
240
252
180
230
280
330
J J A S O N D J F M A M J
J J A S O N D J F M A M J
236 231,1 231,3 203,9 172,1 201,7 219,6 233,3 214,2 216,5 199,5 209,1 203,3
236
231,1
231,3
203,9
172,1
201,7
219,6
233,3
214,2
216,5
199,5
209,1
203,3
150
200
250
300
350
J J A S O N D J F M A M J
investment, as the government has put
forward several new infrastructure ini-
tiatives,’ it says.
Recovery in manufacturing will be
slower due to a severe recession across
the global economy but the automo-
tive industry is likely to be supported
by incentives. ‘We expect Chinese
steel demand to increase by 1.0% in
2020. We also expect that the benefit
from infrastructure projects initiated in
2020 will carry over and support steel
demand in 2021.’
Observers have noted that Beijing has
announced a US$ 6 billion (EUR 540
billion) stimulus package, similar to an
initiative after the 2008 crash that had
benefitted the scrap sector.
aLL iN iT TOGETHER
Steel demand in the developed econo-
mies is expected to decline by 17.1%
in 2020. The EU contracted 5.6% in
2019 due to a sustained manufacturing
recession. The manufacturing sector
was pushed into a deeper recession
during the lockdown with a massive fall
in orders. In the US, the manufacturing
recession was expected to reach its hit
the bottom in the second quarter.
Japanese steel demand has been
weakening since the second half of
2019 and is expected to contract by
double digits in 2020. Major Korean
steel-using sectors are also expected
to see a double-digit decline because
of falling export markets and a weak
domestic economy.
According to worldsteel, the automo-
tive industry has been the biggest vic-
tim of the crisis among steel-using sec-
tors. In 2020 a 20% loss of sales on top
of those in the past two years is
expected. It says, ‘Recovery to pre-cri-
sis levels will take several years due to
income growth and remote working
but safety concerns might boost
demand for passenger cars in the short
market analysis
58
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