Scrap metal prices fall in the US

Average monthly scrap prices for domestic shipments fell $ 24.25 per tonne in November to $ 330 per tonne, a 6.8 percent drop from the previous month. The monthly average price is currently down $ 49 per tonne since September. The domestic scrap metal market in the United States has long been immune to the fall in world prices, but his turn has come.

The USA is the largest exporter of scrap metal. The role of scrap metal in metallurgical processes is described in detail at http://punkti-priema.ru/metallolom . Traditional export partners Turkey, India and Taiwan are now suffering from the effects of cheap Chinese steel on the market, so many factories are seeking to use more iron ore, which has fallen significantly in price, preferring it to scrap metal.

The fall in US scrap prices is mainly due to a surplus of scrap in most regions. In early November, scrap prices fell in the US Midwest and then remained unchanged for the end of the month. In addition, significant quantities of Canadian-sourced material are widely available in the United States, providing local factories with a variety of options.

This excess is due to a variety of factors. Several factories during the month were stopped for some time for various reasons, ensuring a low demand for the material. The combination with the absence of any significant export volumes from the ports of the West and East coasts, led to the fact that processing enterprises were more interested in selling their volumes, rather than protecting profits.