Turkish HMS 1/2 80:20 scrap import prices remain flat at $257 a ton

By Vibin Antony
Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) remained flat week-on-week at $257 a ton during last week, as per the Steel Index.

Previous hopes for a degree of pricing clarity after Monday’s IREPAS conference proved unfounded as the Turkish scrap market last week was characterised by a continuation of the ‘wait and see’ approach from the buy and sell sides.

With both finished steel and iron ore prices remaining depressed, scrap faces pressure in order to remain competitive while maintaining a sustainable margin for suppliers.

Market sentiment remains bleak and it will be interesting to see which side buckles first in the current stand-off between buyers and sellers.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Southern European HRC Steel prices remain flat at €400 per ton

By Vibin Antony
Southern European hot rolled cold (HRC) steel prices remained almost flat week-on-week at €400 per ton last week, with trades concluded in the €390-400 a ton range, as per the latest figures released by The Steel Index.

Market participants have noted little change in the past few months - indeed, TSI’s North and South European HR coil benchmarks have remained range-bound, trading in a €7 a ton and €9 a ton range respectively over the past 4 weeks.

The North European HR coil market remains pretty uneventful with neither buyers nor sellers really able to exert pressure on prices.

Steel producers’ asking prices in Northern Europe remain ambitious, in the €415-420 a ton (ex-works) range, but the reality is very different with spot trades closer to the €400 a ton mark.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Northern European HRC Steel prices slip further to €400 per ton

By Vibin Antony
Northern Europe hot rolled cold (HRC) steel prices slipped further by €1 per ton week-on-week to €400 per ton in the week ended March 20, as per the latest figures released by The Steel Index.

The North European HR coil market remains pretty uneventful with neither buyers nor sellers really able to exert pressure on prices.

Steel producers’ asking prices in Northern Europe remain ambitious, in the €415-420 a ton (ex-works) range, but the reality is very different with spot trades closer to the €400 a ton mark.

Market participants have noted little change in the past few months - indeed, TSI’s North and South European HR coil benchmarks have remained range-bound, trading in a €7 a ton and €9 a ton range respectively over the past 4 weeks.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US HRC Steel prices plummet to $480 a short ton; US Stainless Steel Scrap prices unchanged

By Vibin Antony
United States hot rolled cold (HRC) steel weekly average prices plummeted by $12 a short ton last week, while stainless steel scrap prices remained flat.

According to The Steel Index, United States hot rolled cold (HRC) steel weekly average prices plummeted by $12 a short ton week-on-week to $480 a short ton, a level some sellers are calling the bottom.

Sellers noted offer levels were now holding firm around the US$485/s. ton mark and that the market was close to the nadir.

Not that anybody had told buyers this – trading was sparse, as it has been over the past two weeks, with many service centres on the side-lines waiting to see the situation play out before showing their hand.

If the seller rhetoric was aimed at stoking market interest, it has failed to do so yet.

The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS, 310 SS and 330 SS were unchanged on Scrap Register US Price Index during last week.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Scrap Gold prices advance in line with Futures price

By Vibin Antony
United States scrap gold prices advanced on Thursday in line with future gold prices, as weak US data bolstered the argument the Federal Reserve would likely take its time before raising interest rates.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap advanced on Thursday followed by the yellow metal's up-trend in future market on Wednesday.

The prices of 9ct Gold Scrap hallmarked advanced to $434.899 an ounce and 14ct Gold Scrap non-hallmarked traded up at $678.443 an ounce.

The prices of 9ct Gold Scrap non-hallmarked rose to $411.361 an ounce and 14ct Gold Scrap non-hallmarked traded up at $641.723 an ounce.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange settled up $5.70 at $1,197.00 an ounce on Wednesday.

A weak US durable goods orders report Wednesday morning allowed the gold market to tack on some additional gains from the overnight session.

Durable goods orders in February were down 1.4%, when a rise of 0.2% was expected. Gold also got a lift from bullish comments from Chicago Fed president Charles Evans, who said the Fed should wait until next year to begin to raise interest rates.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

ASEAN HRC Steel import prices slip to $388 a ton

By Vibin Antony
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) slipped by $1 a ton week-on-week to $388 a ton during last week, as per the latest figures released by The Steel Index.

Chinese HR coil prices for SAE grades remained relatively stable last week, with most offers between $385-395 a ton CFR ASEAN port. However, trading prices for SS400 grades of Chinese-origin HR coil offers did pick up slightly at around $385 a ton CFR.

The premium for SAE material from other countries continues to narrow, with sellers offering in the $400-410 a ton CFR range.

Chinese steel producers are aiming for higher offer levels in the coming weeks according to market participants, citing improved long steel prices in the region as a driver.

Whether that prevails is very much uncertain - buyer sentiment, as it is globally, remains especially weak.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

China Copper Scrap prices decline; SHFE Copper edges up to RMB 43,820 a ton

By Vibin Antony
Major Chinese copper scrap commodities traded down on Thursday, while the future prices at Shanghai Metal Exchange edged up to RMB 43,820 a ton on weak dollar.

The prices for major copper scrap commodities including Bare Bright (Cu >99%), No. 1 Copper (Cu 96-98%) and No. 2 Copper (Cu 94-96%) traded down on Scrap Register Price Index as on Thursday.

According to the Scrap Register Price Index, Bare Bright (Cu >99%) scrap prices traded down at CNY 39,550 and No. 1 Copper (Cu 96-98%) at CNY 38,950 a metric ton.

Base metals on the Shanghai Futures Exchange ended Thursday mostly lower. The most active May copper contract on Shanghai Futures Exchange settled slightly up by 0.35% to RMB 43,820 a ton on Thursday.

However, LME copper hit the highest in more than two months on Tuesday, as a weaker dollar fueled chart-based buying, before giving back most of its gains after a weak reading on factory health in top consumer China.

Activity in China's factory sector dipped to an 11-month low in March as new orders shrank, a private survey showed, signaling persistent weakness that will likely add to calls for more policy easing.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Shredded Scrap prices remain flat at $261 a long ton; US Scrap Aluminium prices unchanged

By Vibin Antony
United States shredded scrap prices remained flat week-on-week during last week, with mid-month trading very quiet.

United States shredded scrap prices remained flat at $261 a long ton (delivered mill) in the week ended March 13, as per the latest figures from the Steel Index. The overriding expectation in the market for April purchases appears to be for sideways pricing.

Steel mill utilization rates remain low, with further cuts in production announced last week, whilst scrap flows into yards have also seen little change.

Scrap dealers are talking up a shortage of material, but it remains to be seen if this will translate into any meaningful price movement.

As per Scrap Register Price Index, United States aluminium scrap commodities also showed a flat trend during last week. The scrap prices of 356 Auto Wheels, 5052 Alum Clip, 6061 Alum Extrusion, 6063 10-10 Extrusion,Al/Cu Rad with Iron, Al/Cu Radiator, Alum Breakage 50%, Alum Litho Sheets, Alum Old Sheet remained almost flat during last year.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

India containerized Shredded Scrap import prices remain flat; Copper, Nickel scrap prices down

By Vibin Antony
Indian containerized shredded scrap import prices remained flat last week, while copper, lead, nickel, tin and zinc scrap traded down.

According to TSI, containerized shredded prices for Indian imports remained flat during the week at $286 a ton CFR Nhava Sheva off the back of another week of slow trade.

With confusion over the potential increase in steel import duties still rife, market sentiment remains depressed as the spectre of cheap Chinese finished material continues to weigh heavily on the scrap market.

A further decrease in local scrap prices as well as poor domestic demand for finished products have further contributed to the feelings of pessimism amongst a number of market participants.

Copper, lead, nickel, tin and zinc scrap prices declined during last week on Scrap Register Price Index, while brass scrap prices turned positive. Aluminium and plastic scrap prices remained almost flat.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Scrap Gold Prices May Trade Up This Week; Scrap Gold Rises On Monday

By Vibin Antony
United States scrap gold prices are expected to trade up this week in line with spot and future gold prices on the back of a weaker US dollar and lower US treasury yields.

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked advanced to $430.353 an ounce and 14ct Gold Scrap hallmarked traded up at $671.35 an ounce on Monday.

The prices of 9ct Gold Scrap non-hallmarked rose to $407.06 an ounce on Monday and 14ct Gold Scrap non-hallmarked traded up at $635.014 an ounce.

In futures market, gold rallied as a result of investors being caught off guard after the FOMC released a more dovish-than-expected monetary policy statement and lower economic growth projections.

Although the central banks removed the key word patient from the statement, Fed Chair Janet Yellen said during her press conference that the committee will not be impatient to raise rates.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange settled at $1,184.60 an ounce on Friday, 2.31% higher since Monday. Early last week, just before the Federal Open Market Committee (FOMC) meeting, a strong U.S. dollar dragged the yellow metal to a low of $1.141.60 an ounce.

As per Scrap Register Price Index, aluminium, brass, copper, electronic lead and zinc scrap prices remained almost flat on Monday.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Taiwanese containerized scrap import prices advance further to $232 a ton

By Vibin Antony
Prices for containerized Taiwanese imports of HMS # 1&2 80:20 advanced further by $7 a ton to $232 a ton CFR Taiwan port in the week ended March 20, as per the latest figures from The Steel Index.

The main reason behind this rise is the resumption of Japanese scrap buying by Korean mills, leading to a shortage of material available to Taiwanese buyers.

With the cheaper Japanese scrap no longer plentiful, deals were concluded at higher levels. There remains a significant bid-offer gap, however, meaning both buyers and sellers have been unwilling to commit to large quantities.

As far as sellers are concerned, a tight supply will lead to higher prices, whereas buyers continue to point to low iron ore prices and weak global demand as reasons for the price to stay low.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Turkish HMS 1/2 80:20 scrap import prices drop to $257 a ton

By Vibin Antony
Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) dropped by $3 a ton week-on-week to $257 a ton during last week, as per the Steel Index.

Some US suppliers were offering material at $260 a ton and above, whilst Russian suppliers were willing to sell lower owing to their favorable forex situation.

Participants are perhaps waiting to see how well recent rebar price rises are received in the market before making decisions on further material purchases.

Greater clarity may emerge following the IREPAS conference early next week.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Stainless Steel Scrap prices continue to remain flat; US HRC Steel prices up

By Vibin Antony
United States hot rolled cold (HRC) steel weekly average prices advanced by $4 a short ton last week, while stainless steel scrap prices continue to remain unchanged.

According to The Steel Index, United States hot rolled cold (HRC) steel weekly average prices rose by $4 a short ton week-on-week to $492 a short ton last week.

Amid speculation that prices maybe nearing the bottom, US HRC market activity showed signs of revival. A pick-up in the number of recorded transactions, together with sellers’ reports of an increased level of incoming enquiries, point to active restocking by the Midwest buyers.

Producers reacted to the prolonged decline in prices by making output cuts – AISI reported that US mills’ capacity utilisation fell below 70% for the first time since November 2012 – which could provide long-needed support to domestic US prices.

US HRC index showed only limited movements during the week, staying just above the $490 a short ton mark.

The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS were unchanged on Scrap Register US Price Index during last week.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Catskin Village to host a E-waste Recycling event on March 21

By Vibin Antony
Carrier Mills is hosting an electronic waste recycling event on March 21 to keep the village clean. Carrier Mills, formerly Carriers Mills and Morrilsville, also known as Catskin, is a village in Saline County, Illinois, United States.

The used e-waste materials collection will be held at the Carrier Mills Municipal Building Parking lot, 101 N. Mill St. in Carrier Mills. The electronic waste collection begins from 8 a.m. to noon on Saturday. The event opens rain or shine and everybody can participate.

Items that can be recycled Free of charge are listed below:
DVD Players & VCR’s, Keyboards & Mice, Gaming Systems, Printers/Fax Machines/Floor Copiers, Telephones/Cell Phones, Metal Items, Calculators/Adding Machines, Exercise Equipment, UPS Battery Backups/Laptop Batteries, Car Batteries (sealed lead acid)/Car Routers, Toner & Ink Cartridges, Bed Frames & Rain spouting, Audio Visual Equipment/Plotters, Washers & Dryers Filing Cabinets, Ranges (Stoves), Projectors, Dishwashers.

In addition, old paint can be dropped off as well, for $1 a gallon and tires can be recycled, but the price is based on the size of the tire.

Additional Items that can be recycled with a Fee:
Televisions, CRT Monitors, LCD Monitors, LCD & Plasma TV’s, computer monitors will be taken, for a fee of $5 dollars.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Indian Copper Scrap prices decline in line with MCX Copper

By Vibin Antony
India's major copper scrap commodities traded down on Thursday followed by the red metal's down-trend in future market on Wednesday.

As per Scrap Register Price Index, the prices for major copper scrap commodities including copper armature, copper cable scrap, copper heavy scrap, copper sheet cutting, copper Super D.Rod, copper utensil scrap and copper wire bars traded down on Thursday.

MCX copper prices settled down on Wednesday, after the number of housing starts issues in the US fell sharply in February signalling weak housing market in US which reduced the demand outlook for the metal.

The most active April copper contract on Multi Commodity Exchange settled down by 1.17% to Rs. 368.95 on Wednesday.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Southern European HRC Steel prices rise to €400 per ton mark

By Vibin Antony
Southern European hot rolled cold (HRC) steel prices rose by €5 per ton week-on-week to €400 per ton mark during last week, as per the latest figures released by The Steel Index.

In Italy, market sentiment was affected by the restart of deliveries by Ilva which, according to some market participants, may put pressure on domestic price level in the near future.

Meanwhile, Ilva brought forward to this week closure of the blast furnace N5 for maintenance, which currently provides about 40% of its pig iron output.

Asking prices for HRC from domestic mills in Italy remained in the €390-405 a ton range (exworks), with import offers close to the €380 a ton mark (CFR basis).

In Northern Europe HRC continued to trade between €400-410 a ton range, although more transactions were recorded in the lower end of the range.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Copper Scrap prices decline in line with COMEX Copper

By Vibin Antony
United States major copper scrap commodities prices declined on Wednesday in line with copper future prices.

Copper futures closed nearer the session low and hit a four-week low on Wednesday, as mounting concerns over the health of China's property sector dampened appetite for the red metal.

The most active May copper contract on the COMEX division of the New York Mercantile Exchange was last trade slightly down by 510 points to 258.25 cents on Wednesday.

As per Scrap Register Price Index, major copper scrap commodities like #1 Ins Wire (Cu 58-62%), #2 Ins Wire (Cu 88-92%), Bare Bright (Cu >99%), Enameled Copper Wire, No. 1 Copper (Cu 94-96%), No. 2 Copper (Cu 94-96%) and No. 3 Copper (Cu 94-96%) showed a negative trend on Wednesday.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

ASEAN HRC Steel import prices plummet to $389 a ton

By Vibin Antony
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) plummet by $10 a ton week-on-week to $389 a ton during last week, as per the latest figures released by The Steel Index.

In line with decreases in Chinese export prices, ASEAN HRC imports prices lost $10 a ton during the week to finish at $389 a ton CFR Singapore port.

Offers for Chinese-origin SAE grades were heard between $390-400 a ton, with bids about US$10/t lower (CFR ASEAN port). Asking prices for SS400 grades were close to the $380a ton mark.

This price level made other producers less competitive, as South Korean mills were offering HRC at $400 a ton, but buyers were not prepared to pay above US$390/t (CFR Vietnam port). Offers from Japan and Taiwan were slightly higher at $410 a ton.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Turkish HMS 1/2 80:20 scrap import prices advance further to $260 a ton

By Vibin Antony
Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) advanced further by $9 a ton week-on-week to $260 a ton during last week.

Participants view the price rise seen last week as largely a result of mills all coming to the table at once to replenish inventory, with some buyers also looking to buy multiple cargoes.

This week a sense of reality returned to the market, with Baltic merchants offering lower than their European counterparts due to their current exchange rate advantage.

Turkish producers have become increasingly reliant on ferrous scrap supplies from Europe, the Baltics and North America, despite government-sponsored attempts to boost domestic scrap generation.

Meanwhile, short-sea ferrous scrap supply from the Balkans, Russia and Ukraine has been steadily declining since the middle of the last decade, increasing Turkish producers' exposure to domestic EU and US scrap price movements.

Turkish steelmakers have expressed concern about increasing competition from regional integrated competitors which currently benefit from a comparatively lower cost of production.

This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Chinese Spot Steel prices continue up trend last week; Steel Scrap prices down

By Vibin Antony
Chinese spot steel prices advanced further last week, while steel and stainless steel scrap prices showed a mixed trend.

According to The Steel Index, Chinese steel prices continued their upswing, albeit more modestly, with billet in the Tangshan region firming RMB 10 a ton and spot rebar in both Beijing and Shanghai rising RMB 30a ton.

Rebar futures in Shanghai also rose slightly, but the DCE iron ore futures were down 0.44%. Despite stronger steel, spot iron ore activity died down ahead of the weekend.

However, an Australian miner sold 61.3% Fe and 57.3% Fe fines via private negotiation at slightly better levels than Thursday. The trading screens were quiet.

At ports in Tangshan, traders cut their offers for imported ore sold on an RMB/wmt basis. All prices US$/dmt CFR China unless stated otherwise.

The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 316 SS were unchanged on Scrap Register US Price Index last week, while steel scrap commodities like Mix Steel Scrap and #1 HMS traded down.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Northern European HRC Steel prices continue to decline to €402 per ton

By Vibin Antony
Northern Europe hot rolled cold (HRC) steel prices continued to drop by €3 per ton week-on-week to €402 per ton in the week ended March 06, as per the latest figures released by The Steel Index.

With limited trading activity in the European HR coil market, TSI’s indices registered only modest movements this week.

North European buyers preferred to stay on the sidelines, booking material only to fulfill their immediate requirements and TSI’s benchmark index trended slightly down to finish the week at €402 a ton.

However, South European HRC   prices remained largely unchanged, with trades concluded in the €390-400 a ton range.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Tin Scrap prices may fall further in line with LME Tin

By Vibin Antony
United States tin scrap prices dropped on Friday in line with futures prices at London Metal Exchange. Scrap Register expects prices to drop further in short term.

LME tin prices plummeted to its lowest in more than 31 months on excess supply but other base metal prices at the exchange gained after data showed Chinese banks extended 1.02 trillion yuan ($163 billion) of new loans in February, well above market expectations.

In LME, tin futures prices was close lower 2.56% at $17,405 on Thursday and SMM, a Chinese metals market research company, expects further decline in tin market due to weak sentiment. SMM also expects LME tin prices to slide to $17,000 per ton and with upper hand at $17,400 per ton.

In China’s domestic market, tin price is expected to test support at 120,000 yuan per tonne, and may fall below the mark due to falling LME tin and poor demand.

The inverse relation between dollar and commodity market is not as sensitive as before, and the implementation of policies in China after the end of two sessions is expected to cheer the market. Hence, outlook for metals market should not be too pessimistic.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Turkish Steel Industry slowdown puts Scrap imports under pressure in January

By Vibin Antony
Turkish scrap imports declined sharply during the first month of this year due to the slowdown of performance in the Turkish steel industry.

 

As per the Turkish Statistical Institute (TUIK), nation's total scrap imports during January declined sharply by around 29% year-on-year to 1.38 million metric tons and slightly up from previous month. Turkey had imported 1.95 million tons of scrap in January last year.

 

United Kingdom is the largest exporter of scrap to Turkey during January with 424,703 metric tons, representing 30% of the total Turkish imports during the month. Turkish imports from the UK advanced sharply by around 59% month-on-month in January.

 

The first few weeks of January proved to be the calm before the storm for imports of ferrous scrap into Turkey, with TSI’s index moving down by $8 a ton over the first three weeks of the month. This was a continuation of the relatively quiet market seen since mid-December, with only a handful of car-goes booked over this period as a consequence of mills being well-stocked.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Scrap Gold prices almost steady; COMEX Gold rises to $1,153.40 an ounce

By Vibin Antony
United States scrap gold prices almost steady on Thursday, while COMEX gold prices advanced due to a retreat in US dollar from 12-year highs arrested an eight-session slide. But expectations that US interest rates will rise sooner rather than later kept prices under pressure.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap remained unchanged on Thursday. The prices of 9ct Gold Scrap hallmarked unchanged at $419.131 an ounce and 14ct Gold Scrap hallmarked traded almost flat at $653.844 an ounce on Thursday.

The prices of 9ct Gold Scrap non-hallmarked remained flat at $396.446 an ounce on Thursday and 14ct Gold Scrap non-hallmarked traded steady at $618.456 an ounce.

However, gold futures got no benefit from a weak US retail sales report for February, issued on Thursday. Retail sales were down 0.6% from January and up 1.7% year-on-year. A rise of 0.3% was expected. This is the last major U.S. economic report ahead of next week’s meeting of the Federal Reserve’s Open Market Committee (FOMC) to determine U.S. monetary policy actions.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade up by $2.80 to $1,153.40 an ounce on Thursday.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US HRC Steel prices drop to $488 a short ton; US Stainless Steel Scrap prices remain flat

By Vibin Antony

United States hot rolled cold (HRC) steel weekly average prices dropped by $5 a short ton last week, while stainless steel scrap prices remained unchanged.

According to The Steel Index, United States hot rolled cold (HRC) steel weekly average prices dropped by $5 a short ton week-on-week to $488 a short ton last week.

Plenty of chatter in the market of a price floor soon being reached but, that said, it seems mills are having to bear a little more pain with even lower bids and deals taking place, especially for larger volume orders.

Tightness in domestic obsolete scrap supply may provide a boost for raw materials prices, however, and in turn a cost-push element to any steel price recovery efforts in the coming weeks.

The prices of major stainless steel scrap commodities like 201 SS, 301 SS, 309 SS were unchanged on Scrap Register US Price Index last week.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Southern European HRC Steel prices remain flat at €395 per ton

By Vibin Antony
Southern European hot rolled cold (HRC) steel prices remained almost flat week-on-week at €395 per ton last week, with trades concluded in the €390-400 a ton range, as per the latest figures released by The Steel Index.

However, with limited trading activity in the European HR coil market, TSI’s indices registered only modest movements this week.

North European buyers preferred to stay on the sidelines, booking material only to fulfill their immediate requirements and TSI’s benchmark index trended slightly down to finish the week at €402 a ton.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Turkish HMS 1/2 80:20 scrap import prices advance to $251 a ton

By Vibin Antony
Turkish HMS 1/2 80:20 scrap import prices (CFR Iskenderun Port, Turkey) advanced by $8 a ton week-on-week to $251 a ton during last week as the market rebounded from recent heavy price falls.

According to the Steel Index, lower collection rates, combined with an up-tick in demand from mills looking to replenish depleted stockpiles, has resulted in more competition for cargoes and thus higher prices.

This comes despite iron ore prices falling to new 6-year lows this week and finished steel sales seeing little noticeable improvement.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Poor demand drives Taiwanese containerized scrap import prices down

By Vibin Antony
Prices for containerized Taiwanese imports of HMS # 1&2 80:20 dipped by $2 a ton to $223 a ton CFR Taiwan port last week amid poor demand and declining prices in Japan.

As per Scrap Register Price Index, scrap prices for aluminium, copper, brass, zinc and lead showed almost bearish trend last week.

According to the Steel Index, Sentiment in the Taiwanese scrap market remained negative as mills continued to keep their bids low in line with their bearish outlook on scrap prices.

With iron ore falling to below $60/dry tonne, buyers are adamant that their bids will remain low, leaving scrap suppliers with seemingly little choice but to cave in to these levels if they wish to shift cargoes in the near future.

Taiwanese scrap prices followed a consistently downward trend throughout January with weekly falls ranging between $5 and $10 a ton.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Gold Scrap Prices Slip On Wednesday; COMEX Gold Hits 3-Month Low

By Vibin Antony
United States scrap gold prices slipped on Wednesday, while gold futures prices fell to a three-month low on the back of a stronger US dollar and weaker commodities sector.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap slipped on Wednesday. The prices of 9ct Gold Scrap hallmarked slipped to $448.77 an ounce and 14ct Gold Scrap hallmarked traded down at $700.091 an ounce on Wednesday.

The prices of 9ct Gold Scrap non-hallmarked dropped to $424.487 an ounce on Wednesday and 14ct Gold Scrap non-hallmarked traded down at $662.20 an ounce.

In Futures market, gold was weighed down by the general decline in the commodities sector with the most notable decline in energy commodities and a weaker euro also dragged down gold prices.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade down by $10.50 to $ 1,149.60 an ounce on Wednesday.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Shredded Scrap Prices Continue To Remain Flat; US Scrap Gold Prices Down

By Vibin Antony
United States shredded scrap prices continued to remain flat week-on-week at $257 a long ton (delivered mill) during last week, while the prices for hallmarked and non-hallmarked gold scrap showed a bearish trend in line with futures prices.

In futures market, gold price remained under pressure on Tuesday, with investors seeking returns elsewhere such as in the dollar and equities.

“The outlook for gold and silver at present is becoming increasingly gloomy. Gold is facing headwind from the very firm US dollar, higher US bond yields and rising equity markets. Speculative financial investors are also likely to have retreated further from the gold market,” said Commerzbank in a note.

According to TSI, oversupplied prime grades fell around $20 a long ton but were unable to drag shredded prices down with them – in fact, participants stated the lack of availability of shredded material served to support primes, with talk of $30-40 a long ton falls not coming to fruition. Shredded material remained flat, as demand from EAF steel-makers improved from recent months.

As per Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap showed a bearish trend last week followed by the yellow metal's down-trend in future market. However, aluminium, copper, brass, electronic, nickel, steel, zinc and lead scrap prices showed mixed trend last week.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Chinese Zinc Scrap price disappoints sellers after Lunar New Year holidays

By Vibin Antony
Chinese zinc scrap prices, similar to futures prices at Shanghai Futures Exchange (SHFE) and London Metal Exchange (LME), has disappointed sellers after Lunar New Year holidays.

Chinese zinc scrap prices declined by 3.3% after Chinese Lunar New Year holidays, while zinc futures prices at SHFE and LME declined 3.46% and 3.83% respectively.

The fall in zinc prices was mostly on account of weakness in copper and other base metals at the LME after factory-gate deflation deepened in China, the largest user of the metal.

According to Scrap Register Price Index, Chinese zinc scrap prices declined CNY 540 a metric ton during from February 17 to March 10. The prices dropped from CNY 16, 340 a metric ton to CNY 15,800 a metric ton.

“The Chinese zinc market will continue falling in the short run. Domestic zinc smelters, returning from the holiday, are increasing output, and the increase in market supply will compound to weigh on the market as demand buying has shown no signs of great recovery,” said an analyst at Baocheng Futures to Shanghai Metals Market.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Southern European HRC Steel prices decline sharply to below €400 per ton mark

By Vibin Antony
Southern European hot rolled cold (HRC) steel prices declined sharply by €9 per ton week-on-week to €395 per ton in the week ended February 27, as per the latest figures released by The Steel Index.

In Southern Europe producers’ offers stood in the €395-405 a ton range, with larger-volume transactions concentrated near the €395 a ton mark.

Meanwhile, Feb 2015 and Feb-Jun 2015 Northern European HRC swaps, priced at €410 a ton and €411 a ton respectively, cleared on LCH. Clearnet (basis TSI).

In Northern Europe buyers used the lack of purchasing activity in the market to their advantage as they bargained for lower priced deals this week.

Steel producers on the other hand attempted to push through planned increases for Q2 orders but faced difficulties in doing so.

What culminated were HRC offers near the €410 a ton mark, but some deals concluding closer to €400 a ton, lowering TSI’s benchmark index to €405 a ton by the end of the week.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

India containerized Shredded Scrap import prices edge up; Scrap Copper, Nickel remain unchanged

By Vibin Antony
Indian containerized shredded scrap import prices edged up last week, while aluminium, brass, copper and nickel scrap prices were traded down.

As per The Steel Index, containerized shredded scrap prices for Indian imports edged up by $2 a ton to $285 a ton CFR Nhava Sheva port in the week ended March 06.

Sentiment has been mixed after the unveiling of a budget that was largely disappointing for the steel-making industry. The scrap import duty remains at 2.5% and the reduction of the special import duties from 4% to 2% flatters to deceive and in practice is likely to make very little difference.

Import duties on finished steel have risen from 10 to 15% which should improve domestic demand; however some confusion still remains on when these will come into effect.

Buying continued at the healthier levels seen in the past couple of weeks as inventories continued to be restocked.

The uptick in scrap prices may well be a reaction to the rebound in the Turkish market and it will be interesting to see where the market settles after the changes from the budget have been absorbed.

As per Scrap Register Price Index, aluminium, brass, copper and nickel scrap were traded down last week, while lead, zinc, plastic and plastic resin traded almost unchanged.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Scrap Gold Prices May Trade Down This Week

By Vibin Antony
United States scrap gold prices are expected to trade down this week in line with spot and future gold prices as the futures market closed the previous week in negative territory.

The prices for hallmarked scrap gold and non-hallmarked scrap gold declined on Scrap Register Price Index on Monday.

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked declined to $427.679 an ounce and 14ct Gold Scrap hallmarked traded down at $667.179 an ounce on Monday.

The prices of 9ct Gold Scrap non-hallmarked dropped to $404.531 an ounce and 14ct Gold Scrap non-hallmarked traded down at $631.069 an ounce.

In futures market, the question now on everyone’s mind is just how low gold prices will go next week, in what is a quiet week for US economic data. Most of precious metal analysts expect that markets will spend most of next week preparing for the Federal Reserve monetary policy meeting on March 18.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last traded down by 2.6% to $1,164.30 an ounce on Friday. The gold ended the week at its lowest point since December 1, shedding 4% since Monday.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

ASEAN HRC Steel import prices slip to $392 a ton

By Vibin Antony
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) dipped by $1 a ton week-on-week to $392 a ton in the week ended February 27, as per the latest figures released by The Steel Index.

The ASEAN steel market was expectedly quiet the week as Chinese mills were still mostly absent due to the Lunar New Year holiday.

Chinese-origin SAE grades were heard to be offered by traders at above $400 a ton (CFR ASEAN Port), but buyers preferred to postpone bookings until next week, waiting for a greater clarity in price direction.

A few cargoes were sold at a much-lower level, closer to the $380 a ton mark, still reflecting pre-holiday price level. Japanese mills were reportedly offering HRC close to $435 a ton (CFR Vietnam), but this price level was generally above what buyers were prepared to pay for the material.

According to the Scrap Register Price Index, the steel and stainless steel scrap prices dropped in China last week in line with HRC steel and rebar futures prices at Shanghai Future Exchange.

Chinese rebar futures declined on Friday and were on course to post their biggest weekly loss in more than a month as there was little sign that steel demand was picking up in the world's top consumer after the long Lunar New Year holiday.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

Chinese Copper Scrap prices remain flat; SHFE Copper slips to RMB 42,400 a ton

By Vibin Antony
The major Chinese copper scrap commodities prices remained flat on Wednesday, while the future prices at Shanghai Metal Exchange slipped to RMB 42,400 a ton as traders anticipate that the lower growth outlook for China will impact metals demand.

The prices for major copper scrap commodities including Bare Bright (Cu >99%), Copper Scrap, No. 1 Copper (Cu 96-98%) and No. 2 Copper (Cu 94-96%) remained flat on Scrap Register Price Index as on Wednesday.

According to the Scrap Register Price Index, Bare Bright (Cu >99%) scrap prices remained flat at CNY 38,150 and copper scrap at CNY 42,625 a metric ton.

Base metals on the Shanghai Futures Exchange ended Wednesday mostly lower. The most active May copper contract on Shanghai Futures Exchange settled down slightly by 0.935% to RMB 42,400 a ton on Wednesday.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Gold Scrap prices edge up; Gold futures down to $1,200.50 an ounce

By Vibin Antony
United States gold scrap prices edged up on Wednesday, while prices in future market down on strong dollar. A stronger US dollar index that posted an 11.5-year high was a significantly bearish outside market force working against the precious metals and many other raw commodity markets on the day.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap slightly up on Wednesday. The prices of 9ct Gold Scrap hallmarked advanced to $441.138 an ounce and 14ct Gold Scrap hallmarked traded up at $688.175 an ounce on Wednesday.

The prices of 9ct Gold Scrap non-hallmarked rose slightly to $417.262 an ounce on Wednesday and 14ct Gold Scrap non-hallmarked traded down at $650.928 an ounce.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade down by $3.90 to $1,200.50 an ounce on Wednesday.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Nickel Scrap monthly avg prices dip in February in line with LME Nickel

By Vibin Antony
United States nickel scrap monthly average prices dropped in February in line with nickel futures prices at London Metal Exchange.

In LME, the monthly average prices for nickel dropped by $236.45 a ton month-on-month to $14,534.5 a ton in February. However, nickel inventories on the LME warehouses were at 430,944 tons on February 27th, up by 2,268 tons from the last day.

LME nickel held around a 14-month low on Wednesday, as a relentless rise in exchange-held nickel stocks overshadowed expectations of a shortage of nickel ore towards the end of the year.

The major nickel scrap prices posted a decline on Scrap Register Price Index in February. The scrap prices of inconel 600, inconel 625, nickel 200 and nickel refining base are traded dowm in February.

The monthly average scrap prices for Inconel 600 dropped to $4.096 a pound in February, while Inconel 625 averaged down at 5.461 a pound.

The monthly average scrap prices for nickel 200 declined to $6.0855 a pound in February, while nickel refining base averaged down at 5.542 a pound.

This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Scrap Gold prices drop on strong Dollar

By Vibin Antony
United States gold scrap prices recorded a drop on Tuesday in line with gold futures market as the dollar held close to 11-year highs, with investors awaiting US economic data and a European Central Bank meeting.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap dropped on Tuesday. The prices of 9ct Gold Scrap hallmarked dropped to $441.047 an ounce and 14ct Gold Scrap hallmarked traded down at $688.033 an ounce on Tuesday.

The prices of 9ct Gold Scrap non-hallmarked declined to $417.176 an ounce and 14ct Gold Scrap non-hallmarked traded down at $650.794 an ounce.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade down by $4.80 to $1,203.40 an ounce on Tuesday.

In gold future market, the key outside markets were in a mildly bullish posture for the precious metals on Tuesday, as the US dollar index was modestly weaker and crude oil prices were modestly higher. Such did somewhat limit downside price pressure on gold and silver markets.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US Gold Scrap prices rise on Monday; Comex Gold drops to 1,208.10 an ounce

By Vibin Antony
United States gold scrap prices traded up on Monday, while futures and spot prices recorded a down trend mainly on firmer US dollar and technical selling.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap advanced on Monday. The prices of 9ct Gold Scrap hallmarked advanced to $441.592 an ounce and 14ct Gold Scrap hallmarked traded up at $651.884 an ounce on Monday.

The prices of 9ct Gold Scrap non-hallmarked rose to $417.692 an ounce and 14ct Gold Scrap non-hallmarked traded up at $651.599 an ounce.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last trade down $5 to $ 1,208.10 an ounce on Monday.

In future market, gold saw some buying interest overnight after the weekend news that China eased its monetary policy by reducing interest rates. The People’s Bank of China’s surprise move saw the one-year loan rate and the one-year deposit rate both reduced by 0.25%--to 5.35% and 2.5%, respectively.

The central bank said the move was due to increasing deflationary price pressures. This news is bullish for the raw commodity sector as China is a major raw commodity importer.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

US HRC Steel prices continue to decline; Steel, Stainless Scrap prices remain flat

By Vibin Antony
United States hot rolled cold (HRC) steel weekly average prices continued to decline by $11 a short ton week-on-week to $515 a short ton in the week ended February 20, as per The Steel Index.

The daily prices took another leg down on Friday, falling $5 a short ton to $515 short ton and in the process, setting another new four-year low.

There was an acute slowdown in purchasing activity the week which coincided with the news that steel service center inventories are at a six-year high, according to MSCI report.

Of those who concluded deals, larger volume buyers placed orders at sub-500 levels, indicative of mill desperation to secure volumes at perilously low price levels.

The prices of major steel and stainless steel scrap commodities were unchanged on Scrap Register US Price Index last week.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)