Copper prices have surged in recent months as China has ramped up consumption and other countries have followed. Supplies that were depleted as producers shut down at the onset of the COVID-19 pandemic are also increasing as economies gradually reopen. As recently as early August, the London Metal Exchange (LME)…
Aluminum Prices and Scrap Affected by Market Uncertainties
Tariffs. Trade wars. Consumption shifts. All raise questions about the long-term direction of aluminum prices. At $2,011 per ton, the London Metal Exchange price for aluminum was 10.8 percent less at the end of September than it was at the start of January. It had been as low as $1,966…
2018 Steel Market Forecast
The World Steel Association projects that global steel demand will increase by 1.6 percent in 2018 to 1,648.1 million tonnes (Mt). Demand increased by 2.8 percent in 2017,worldsteel noted in its steel market forecast for 2017. “Progress in the global steel market this year to date has been encouraging,” T.V. Narendran, Chairman…
Steel Production Still Rising
Steel production rose again in September, both in the US and abroad. At 74.8 million net tons, domestic raw steel production was 3.8% higher than a year ago for the year-to-date through Oct. 28, according to American Iron and Steel Institute statistics. Capability utilization was at 74.6% compared with 72.2% a year ago….
Nickel Prices Fluctuating
The steady increase in global demand for stainless steel scrap has not been reflected in the price of nickel. Given that nickel is used in making stainless steel, an overabundance of the former being mined in Asia has affected its price. The price of nickel was great in early December…
Nonferrous Exports Surging
Exports of nonferrous scrap have boomed this year. Nickel, copper, and aluminum have been particularly strong. Nickel exports were 31% higher through the first eight months of 2017 than in the same period a year ago. The nickel waste exported totaled $80.5 million through August of this year compared to…
Flooding Impacts Auto Market
Automotive recyclers and salvage yards may be deluged by vehicles damaged by the hurricanes that have hit southern states in recent months. Massive flooding in Houston and surrounding areas hit by Hurricane Harvey caused widespread damage to vehicles. Cox Automotive estimates that 300,000 to 500,000 cars were damaged, according to…
Hurricanes Disrupt Scrap Supply
The bigger the disaster, the bigger its effects on the scrap industry. When homes are destroyed, buildings damaged and automobiles wrecked, massive amounts of materials are extracted and the demand for rebuilding supplies surges. Typically, the demand for materials exceeds the supply extracted from the damaged areas. The U.S. scrap…
Steel Production Starts Strong
Steel production has surged in early 2017. Domestic raw steel production was up 4.7 percent for the year-to-date through Feb. 25, according to American Iron and Steel Institute statistics. Capacity utilization was at 73.0 percent compared with 70.8 percent a year ago. World crude steel production increased 7.0 percent to 136.5 million…
Steel Market Forecast 2017
The World Steel Association projects that global steel demand will increase by 0.5 percent in 2017 to 1,510 million tonnes (Mt). Demand increased slightly in 2016 but weakness in investment globally is hampering a stronger recovery, worldsteel noted in its steel market forecast for 2017. Steel demand is projected to decline…