This chart shows Ferrous Scrap price assessments in USA Dollar per metric ton (USD/mt) in 5 locations, as follows:
- Ferrous Scrap (HMS 80:20), US (United States): Ferrous Scrap (heavy melting scrap 1 and 2, 80:20), export spot price, fob, United States
- Ferrous Scrap (HMS 80:20), NEA (Northeast Asia): Ferrous Scrap (heavy melting scrap 1 and 2, 80:20), import spot price, cfr, Taiwan
- Ferrous Scrap (HMS 80:20), EUR (Europe): Ferrous Scrap (heavy melting scrap 1 and 2, 80:20), export spot price, fob, United Kingdom (netback from cfr Turkey)
- Ferrous Scrap (Shredded), SEA (Southeast Asia): Ferrous Scrap (shredded), import spot price, cfr, India
- Ferrous Scrap (HMS 80:20), MDE (Middle East): Ferrous Scrap (heavy melting scrap 1 and 2, 80:20), import spot price, cfr, Turkey
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Ferrous Scrap Price Outlook
Ferrous Scrap Price Outlook. The price of Ferrous Scrap (United States) increased during May 2020 to 325 USD per metric ton, which represents a considerable rise of 9% compared to the previous month’s value. On a year-over-year basis, the prices of Ferrous Scrap (United States) increased by 7%. Meanwhile, the average price of Ferrous Scrap (Southeast Asia) amounted to 311 USD per metric ton, from 364 USD per metric ton one year earlier. On a month-over-month basis, the price of Ferrous Scrap (Southeast Asia) is 2% lower than the price one month before.
The price of Ferrous Scrap (Middle East) rose slightly throughout May 2020, reaching 247 USD per metric ton. The price is 0.8% higher than the average price in the previous month and 17% lower than the average price one year before. In contrast, the prices of Ferrous Scrap (Europe) decreased during May 2020, reaching 261 USD per metric ton, which means a decline of 5% from the previous month’s price and a decline of 18% from the previous year’s price.
The prices of Ferrous Scrap (Northeast Asia) experienced a modest decline of 8 USD per metric ton from the prior month's price, to 238 USD per metric ton. Such price movement meant a decrease of 3% on a monthly basis and a decrease of 21% on a yearly basis.
About Ferrous Scrap
About Ferrous Scrap. Ferrous metals, which include steel, pig, and wrought iron, often alloyed with other metals like stainless steel, are very important materials in various industries. In this context, Ferrous Scrap recycling is a crucial practice, conserving energy and raw materials. The recycling process – mainly for steel – is noted to save a substantial amount of energy equivalent to the power needs of millions of houses. The process of scrap recycling involves shredding and separating materials like metals, plastic, and rubber. Specifically for steel scraps, hydraulic shears and baling presses are employed to prepare scrap for transportation to steel mills. Steel mills use various methods, including Basic Oygen Furnaces (BOFs), Electric-arc Furnaces (EAFs), and blast furnaces, to melt scrap and produce new steel.
Ferrous Scrap can derive from home, new, and old sources. Increasingly, more efficient industry technologies has been reducing home scrap availability, preventing bad products from reaching the end consumer. New source refers to the scrap originated from manufacturing processes like cutting, drawing, extrusion, and machining steel, along with excess metal from the casting process, which possesses known chemical and physical characteristics. This scrap is then transported back to ferrous product plants for recycling. Old scrap encompasses discarded metal articles post their useful life, available for recycling. This source remains consistently high, being junked automobiles the primary responsible for old scrap, followed by appliances, industrial machinery, worn-out railroad cars, and demolished steel structures. Due to the variable nature of old scrap, substantial preparation, including sorting, detinning, and dezincing, is often required before its use in mills.
Because of its magnetic properties, Ferrous Scrap can be easily separated from accompanying materials, allowing iron to return to foundries in a high state of purity. While cupola and induction furnaces are usually employed for iron scraps, basic oxygen and electric-arc furnaces are usually employed for steel scraps. Recycling 1 metric ton of steel from scrap conserves approximately 1030 kg of iron ore, 580 kg of coal, and 50 kg of limestone.
Ferrous Scrap Handling. Ferrous Scrap can be stored in big bags, on pallets or pressed in bundles, and in a dry area. It can be transported by rail, truck, and/or ship.
Ferrous Scrap Uses. One of the designations for recyclable steel and wrought iron is “Heavy Melting Scrap” (HMS), used for scraps from obsolete (old) sources only. HMS is divided into two main categories: HMS 1 and HMS 2. HMS 1 excludes galvanized and blackened steel, while HMS 2 includes them. Another difference between them is that HMS 1 is denser, with a minimum density of 0.7 tons per cubic meter. Both have defined minimum thicknesses (1⁄4 inch for HMS 1 and 1⁄8 inch for HMS 2) and specific maximum dimensions for efficient handling and furnace charging. On the other hand, other grades refer to less purified materials. For example, shredded scrap means a ferrous scrap (primarily steel) that was treated with the first step of the recycling process: cleaned, magnetically separated, and shredded, being almost free of non-ferrous metals and non-metallic matter, particularly combustibles (rubber and plastics).