Scrap metal market keeps the prices unchanged
According to the official statistics, that in spite of the economical recession, there are no changes in the scrap metal prices.
The statistics was made from Raw Material Data Aggregation Service (RMDAS), which was researching the changes on the market.
Last months were quite steady in the business, despite the fact, that over a million clients still had to pay 20$ per ton – more than they did before . The prices are for the prompt grades, but in the shredded scrap rating there is no change.
The research of RMDAS points out the North American scrap market is moving up slowly. The prices start to be more stable due to customer interest in the scrap export.
The world statistic in scrap metal business is influenced by several factors. One of them is that steel producers in sixty-six countries around the globe experienced slow rise in their production for January 2010. Compared to the last months of 2009 year, the increase is around 2 million metric tons. The whole production for the first month of the new year was 109 million metric steel.
In America and China there is also hope for gaining back the positions before the recession. RMDAS noticed that the production of both countries have been increased significantly. Despite the stable prices and the slow rise on the world scrap markets; there are still countries with bad indexes. Russia and Turkey- both known as super steel producers reduced their production for January.
American Iron and Steel Institute informed that just for one week in the U.S. the amount of steel production was near 1.64 million tones. These are very auspicious numbers, simply because they indicate the usage of 68 percent of the actual scrap metal deposits, which compared to last February, is a sign of increasing in the steel productions. Last February this figure was critical- 48 percent of capacity, which is exactly 1.06 million steel tons.
Lately the scrap market shows stabilization and it is slowly moving up which can only be a good sign for both the economy and the environmental movement of increasing the metal recycling in the major world industry.