November 6 2012 Sheet Iron at $140.00 per GT in prices from Iron Mike
|Ferrous Scrap Metal||Market Price||Your Price *|
|Scrap #1 Dealer Bundles||$265.00 gt||$220.00 gt|
|Scrap #2 Dealer Bundles||$245.00 gt||$195.00 gt|
|Scrap #1 Busheling||$315.00 gt||$270.00 gt|
|Scrap #1 Baling||$240.00 gt||$200.00 gt|
|Scrap #2 Baling||$220.00 gt||$170.00 gt|
|Scrap Plate and Struct 2’x 5′||$290.00 gt||$240.00 gt|
|Scrap Plate and Struct scrap (unprep)||N/A||$215.00 gt|
|Scrap Heavy Melt 2’x 5′||$280.00 gt||$220.00 gt|
|Scrap Heavy Melt scrap (unprep)||N/A||$180.00 gt|
|Scrap automobiles (must have title)||N/A||$100.00 gt|
|Scrap Auto Cast||$285.00 gt||$240.00 gt|
|Scrap Yard Cast(breakable)||$220.00 gt||$175.00 gt|
|Scrap Sheet Iron||$195.00 gt||$140.00 gt|
|Scrap #1 Shredder Frag||$310.00 gt||$270.00 gt|
|Scrap Engine Block (clean)||$285.00 gt||$225.00 gt|
|Scrap Engine Block (dirty)||$185.00 gt||$220.00 gt|
|Scrap Punchings||$350.00 gt||$280.00 gt|
|Scrap Turnings||$135.00 gt||$100.00 gt|
|Scrap Aluminum Bearing Steel(smelter ready)||$ .27 lb-% call||$ .17 lb-% call|
|Scrap Machinery (high yield cast)||N/A||$170.00 gt|
|Scrap Racks and Bins||N/A||$150.00 gt|
|Scrap Random length rail (W/docs)||$280.00 gt||$230.00 gt|
|Scrap OTM (W/docs)||$285.00 gt||$235.00 gt|
|Scrap Crushed Cars (Full trailer loads)||N/A||$130.00 gt*|
In other news:
CHINESE STEEL PRICES RISE BUT REST OF THE WORLD FACE REDUCTIONS
The overall US economy is improving, albeit slowly, even though exports have been impacted by the strong dollar. In the steel industry, capacity utilisation is dropping as a result of RG shutting down and some other furnaces coming off-line for maintenance. Imports are moderate because domestic availability is appropriate for today’s weak demand and prices are low. A lack of buying activity caused transaction values to plummet to a level that many producers felt was unsustainable. Since then, a round of price hike announcements, of around $US40 per short ton, by a number of leading mills has led to increased order placement and upward price momentum.
Canadian figures have fallen sharply from those reported in September. The market is lacklustre. Although the decline in iron ore prices has helped mill costs, some steelmakers will look for a price rise to regain margins if demand is solid enough or, at worst, to stop the downward movement. Mill order intake is soft. Producers are unclear whether the weakness is demand related or, more likely, buyers waiting to see if transaction numbers fall any further.
In China, strengthening market sentiment after the return from the National Day holiday has led to a complete reversal of the extended downward domestic price spiral. A flurry of government announcements to boost the economy, assisted by some attempts at output cuts and stock adjustments, are helping to restore confidence. A number of steelmakers have elected to either lift or keep flat their official ex-works prices for November deliveries. Nevertheless, there are still underlying causes for concern. Growth in the main steel consuming industries is slowing, as is demand from traditional export markets. Moreover, overcapacity remains a major problem.
With domestic demand from key end-user sectors, particularly construction, automotive and industrial machinery manufacture, slowing in Japan, over-abundant stock levels are of growing concern. However, it would seem that many service centres are finally making serious moves to try to cut their inventories by ordering less. Consequently, the mills are struggling to maintain prices in the face of contracting raw material costs and weakening demand. Tokyo Steel decided to leave its November official selling prices unchanged for the second consecutive month.
South Korean demand is very sluggish at present, amidst ever climbing domestic capacity and growing import pressure. Overseas sales are also suffering because of the financial crisis in important export markets. Inventories of flat products held by distributors, at end August, rose by almost 3 percent compared with the previous month – the sixth consecutive monthly increase.