In recent steel market news, a Bloomberg article reported that China, who produces half the worlds steel, yielded a record quantity that sets the scene for a decline in prices. Global ferrous scrap availability is expected to increase as well. In Recycling International it is mentioned that scrap availability will surge in the developing world. By 2030, we could see an increase to 1 billion tons of ferrous scrap globally from 720 million tons in 2016. The World Steel Association’s head of raw materials stated that steel industry can “increase its use of ferrous scrap considerably in the medium and long term.”
NOTE: All figures are believed to be reliable and represent approximate pricing based on information obtained prior to publication. Data is sourced from American Recycler, London Metal Exchange, iScrap App, and Scrap Monster. Advanced Remarketing Services is not responsible for the accuracy or completeness of the information provided, or for the use or application of information herein.