Ferrous scrap prices return to 2017 peak

At the end of the year, scrap prices recovered their peak levels in 2017, which were observed at the end of August. In contrast, iron ore prices are more than 20% below their 2017 highs.

Turkish factories, which are the world's largest consumers of scrap metal, are showing a healthy demand for scrap metal, while supply may be limited by difficult weather conditions. As a result, HMS I /II 80/20 scrap metal is sold in the USA and the Baltic Sea countries for more than $ 360 per tonne.

European shipments of ferrous scrap to Turkey are priced at around US $ 350 per tonne for HMS I /II 80/20 mix and US $ 355 for shredded scrap.

In recent days, the iron ore price index has risen from 62% Fe to about USD 74 per tonne on the back of good demand and a more floating futures market. But this figure is overshadowed by the price of $ 95 per tonne reached by the index in the second half of February this year.