US Steel Scrap Metal Prices Continue Decline and Other News

July 18, 2015

Ship Breaking Prices Update

Bulkers: The dry bulk market has kept its positive momentum and after months of anticipation the rising BDI has broken through the psychological barrier of 1000 this week (currently standing at 1048 points). Although we are in the middle of the summer, low ships’ prices combined with increasing chartering market are attracting a lot of buying interest. We experienced a quite active week in the second hand market with thirteen bulk carriers changing hands (4 kamsarmaxes, 1 panamax, 5 supramaxes, 3 handies), the vast majority sold to local summer shoppers.

Demolition: Subcontinent rates continue to soften for one more week. Larger bulkers (capes & panamaxes) are facing levels below $330 per lt, while smaller sizes (handies/handymaxes) are getting circa $310-$320 per lt. No tanker was torched for one more week due to their strong chartering market.

For an overview of the recycling market rates, please check our comprehensive demometer below:

TURKEY 220-225 230-235 220-225 stable
PAKISTAN 325-330 335-345 – soft
INDIA 320-330 330-345 330-345 soft
BANGLADESH 325-335 340-350 340-350 soft
CHINA 170-180 180-190 180-190 stable

Courtesy Lion Ship Brokers

Scrap Metal Prices News

YIEH reports that the US H1 scrap prices averaged at US$232.17/long ton on July 13th, dropping by US$11.66/long ton from the previous week.

The average prices of H1 scraps in Pittsburgh were at US$234.5/long ton, dropping by US$15/long ton; those in Chicago were at US$248.5/long ton, reducing by US$10/ton; and those in Philadelphia were at US$243.5/long ton, decreasing by US$10/long ton; all in comparison with the previous week.

In other news YIEH reports
According to the data issued by the Turkish Statistical Institute (TUIK), Turkey imported 1.7 million tons of scrap in May, soaring by 46.5% and dropping by 7.4% compared to April and the same month of 2014 respectively.

The imported amount of scrap totaled US$459.88 million, up by 52.3% and down by 33% from the previous month and the same time of 2014 respectively.

In the first six months, the Turkish imported quantity and amount of scrap totaled 7.01 million tons and US$2.06 billion, down by 12.2% and 32% on the yearly basis respectively.

USA Scrap Metal Prices

Copper scrap prices
#1 Bright & Shiny Copper $2.01
#1 Copper $1.91
#1 Insulated Copper wire $1.22
#2 Copper $1.81
#2 Insulated Copper wire $0.41

Other Scrap Prices
6061 Extruded Aluminum $0.52
Stainless (304) $0.36
Stainless (316) $0.59
Steel/Scrap Iron $0.025 – $0.04