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Ferrous Scrap Prices Reference date: February 26, 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$/t)
HMS 80/20 heavy steel scrap
– Highest price
– Lowest price
– Fob East Coast price
– Fob West Coast price
F M A M J J A S O N D J F
300 320 305 272 247 242 260 225 195 215 250 280 250
300
320
305
272
247 242
260
225
195
215
280
250
150
200
250
300
350
F M A M J J A S O N D J F
F M A M J J A S O N D J F
290 304 290 282 272 278 260 222 217 198 223 270 250
315 317 310 290 280 273 222 245 225 188 198 250 230
290
304
290
282
272
278
260
222
217
198
223
270
250
315 317 310
290 280
273
222
245
225
188
250
230
150
200
250
300
350
400
F M A M J J A S O N D J F
F M A M J J A S O N D J F
279 309 303 282 279 292 270 228 223,5 260 280 270 251
325 317 310 310 298 300 275 250 240 262 303 300 279
279
309
303
282
279
292
270
228
223,5
260
270
251
325 317
310 310
298
300
275
250
240
262
300
279
200
250
300
350
F M A M J J A S O N D J F
F M A M J J A S O N D J F
249,3 253,3 252,8 242,4 236 231,1 231,3 203,9 172,1 201,7 219,6 233,3 214,2
249,3 253,3
252,8
242,4
236 231,1 231,3
203,9
172,1
201,7
219,6
233,3
214,2
150
200
250
300
350
F M A M J J A S O N D J F
at the time of writing, prices had recov-
ered to US$ 242 per tonne due to a
lack of available material on the mar-
ket.
COMPETING COMMODITIES
Customs data showed China’s iron
imports in December jumped 11.8%
month-on month to 101.3 million
tonnes, up from 90.65 million tonnes in
November, a 27-month high. The rise
was attributed to the ending of pro-
duction disruptions at several major
mining companies, bringing more
material onto the market. December’s
surge boosted China’s import of iron
ore throughout 2019 to 1.069 billion
tonnes, up from 1.064 billion tonnes in
2018.
Prices for iron ore moved up during
January, to reach a peak of US$ 97 per
tonne, according to the 62% Fe Iron
Ore cfr price published by Fastmarkets.
Prices then dipped back to US$ 93 per
tonne ahead of the markets closing for
the Lunar New Year. The extended
public holiday resulting from the coro-
navirus led to plunging prices when the
market returned to work at the month-
end, reaching a low of US$ 80 per
tonne at the start of February. Some of
the large mining companies revised
their production figures as a result.
Poor weather in Australia supported
prices but by mid-month prices had
regained just US$ 2. Prices then
embarked on an upward streak and
reached US$ 92 per tonne at the time
of writing on the back of improved
demand amid restocking activity.
WORLD STEEL STATS
The World Steel Association (world-
steel) reported in January that global
crude steel production in 2019 was
1,869.9 million tonnes, up 3.4% com-
pared to 2018. Despite the growth, the
only regions not to contract last year
MARKET ANALYSIS
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