Page 72 from: Recycling International November/December issue 2024
Ferrous Scrap Prices Reference date: November 12, 2024
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
N D J F M A M J J A S O N
342 366 383 377 340 346 327 315 310 311 310 319 324
342
366
383
377
340
346
327
315
310 311
310
319 324
200
250
300
350
400
450
500
N D J F M A M J J A S O N
N D J F M A M J J A S O N
347 376 380 385 351 356 352 355 354 336 338 342 332
352 360 369 361 345 347 348 349 350 342 316 320 319
347
376 380 385
351 356 352 355 354
336 338
342
332
352
360
369 361
345 347 348 349 350 342
316 320 319300
350
400
450
500
550
600
650
N D J F M A M J J A S O N
N D J F M A M J J A S O N
373 414 414 406 373 375 371 374 379 362 359 366 354
373
414 414
406
373 375 371 374
379
362
359
366
354
180
230
280
330
380
430
N D J F M A M J J A S O N
O N D J F M A M J J A S O
313 313 341 353 359 344 347 345 350 345,2 342,7 315,8 310,7
313 313
341
353
359
344
347
345 350 345,2 342,7
315,8
310,7
250
300
350
400
450
500
550
O N D J F M A M J J A S O
demand outlook for 2025-2026 will be
the progress made in the stabilisation
of China’s real estate sector, effective-
ness of interest rate adjustments in
spurring private consumption and
business investment, and the trajecto-
ry of infrastructure spending dedicat-
ed to decarbonisation and digital
transformation across major global
economies.’
Steel demand in the developing world
excluding China is projected to grow
by 3.5% in 2024 and 4.2% in 2025,
driven by India’s robust growth and a
rebound in other major emerging
economies. Demand in other emerg-
ing economies of the world, such as
the MENA and ASEAN regions, is
2022 to 7.7 Mt in 2023 and are
expected to total 8.7 Mt this year. If
the Chinese continued in the same
way, the chairman warned, the global
steel industry would suffer great dam-
age.
However, Cebecioğlu reported that
producers in GCC countries were
more optimistic with Gulf economies
moving in the right direction with
infrastructure projects such as those in
Saudi Arabia. On the other hand,
Turkey was ‘being pushed into a cor-
ner’ by protectionist measures, while it
could not sell to some Asian countries
which used to be its main export desti-
nations for long products.
Commenting on the global longs mar-
MARKET ANALYSIS
72
expected to rebound this year after a
significant recent slowdown.
EXPORT ‘INSTABILITY’
Growing Chinese exports of semi and
finished steel products are adding to
instability in the global long steel
industry, particularly for the market in
quality scrap. The concern was voiced
at the latest meeting of the
International Rebar Exporters and
Producers Association (Irepas) in Paris
in September. Chairman Murat
Cebecioğlu pointed out that Chinese
finished steel products were dominat-
ing most markets. China’s exports of
semi-finished and finished steel prod-
ucts have increased from 5.6 Mt in
ket in general, Cebecioğlu concluded:
‘The near future does not look bright.
We will probably see the same trend
unless China stops exporting.’ Irepas’
latest short-term outlook states baldly:
‘There is simply not enough demand in
the world for all the steel produced’.
CALL TO ARMS
Faced with such challenges, steel com-
panies in Europe are calling for an EU
Steel Action Plan to restore competi-
tiveness, maintain the ‘green transi-
tion’, and protect steelworkers’ jobs.
They insist that EU action would help
the European steel sector to compete
in a tough global market. With global
overcapacity at a record high and
energy and raw material prices at
uncompetitive levels, the European
steel sector says it is in crisis with more
than 300 000 direct jobs and 2.3 mil-
lion indirect jobs at risk.
Axel Eggert, dg of the European Steel
Association (Eurofer) argues that steel
wendtcorp.com | +49 (0) 2385 922 022 – 1 | [email protected]
WITH A COMPREHENSIVE RANGE THAT IS SMARTER, SAFER,
CLEANER, AND MORE EFFICIENT THAN EVER BEFORE
REVOLUTIONIZING
SHREDDING SOLUTIONS
WENDT Model 130 Shredding & Non–Ferrous Plant
with Complete Emission Control System
NON–FERROUS
RECOVERY SYSTEMSAUTO SHREDDERS
EMISSION CONTROL
SYSTEMS
SHREDDER
ENCLOSURES
FERROUS
DOWNSTREAMS
70-71-72-73_maferrousadv.indd 72 21-11-2024 08:47
