The latest news out of the steel industry is that China’s steel exports drop for the 4th straight month. In November, Chinese exports of steel dropped 16% compared to a year ago to 8.12 million tons.¹ According to Bloomberg, there is little chance that exports catch last years 12 month record. If this plays out
The metal market was able to stop the skid for the time being as scrap prices for crushed auto bodies increased nationally 4.1% since last month. The average price per gross ton is now up to about $136. The end of the year increase is encouraging after three straight months of steady decline. An article
Scrap metal prices continue to dip. Scrap metal prices for crushed auto bodies declined 7.9% nationally since last month. Compared to this time last year scrap prices have increased 13.7%. The average price per gross ton is now roughly $131. See Scrap Metal Market: October 2016 to compare trends for crushed auto bodies. In the month
In October 2016 scrap metal prices for crushed autobodies saw a decline of 22.4%. See September 2016 Scrap Metal Market Watch, and a 18.73% growth over the past year.
Scrap metal prices for crushed autobodies saw a 2.45% decrease over the past month (see August 2016 Scrap Metal Market Watch) and have grown 47.82% over the past year. However, this still represents the 35% decrease since January of 2014.
Moderate Growth Scrap metal prices for crushed autobodies saw moderate growth, 4.8% over the past month (see July 2016 Scrap Metal Market Watch), and have grown 51.53% over the past year.
Schnitzer Steel Industries, Inc. reported positive financial gains this week, with $0.41 earnings per share, compared to losses in the second quarter of 2016. Ferrous sales volumes also increased 13% in the third quarter of 2015. Total domestic volume remains low, as scrap products are exported to international buyers (including India, Turkey, and South Korea).
Scrap Metal Market Holds Steady Scrap metal prices for crushed autobodies held steady with 2.17% growth over the past month (see June 2016 Scrap Metal Market Watch), and have grown 31.62% over the past year. Across the Atlantic, the Brexit vote sent a shockwave through the base metal market, temporarily causing prices to plummet. However,
Scrap Metal Market Trends Scrap metal prices for crushed autobodies continue to increase 22.52% over the past month (see May 2016 Scrap Metal Market Watch), and have grown 19.51% over the past year. In May, government incentives for steel manufacturers in China were met with a strong response by the U.S. Commerce Department, which imposed
Scrap Metal Market Trends Scrap metal prices for crushed autobodies have slightly increased 17.60% over the past month (see April 2016 Scrap Metal Market Watch), and a small uptick of 3.62% over the past year. Over the past month, the automotive industry has struggled to look for an innovative response to continued devaluation. The downward