If there is to be a summer slowdown in the ferrous scrap market it wasn’t reflected in July purchase orders, as pricing for all grades of scrap moved up by from $28 to $98 per ton on average nationally.
Another record-breaking month is reflected in the spot market prices compiled by Management Science Associates (MSA), Pittsburgh, through its Raw Material Data Aggregation Service (RMDAS). (Click here to view the prices for July, 2008)
The RMDAS prompt industrial composite grade averaged $878 per ton nationally, up nearly $100 per ton over prices paid by mills in June. Shredded and No. 1
Demand held steady or increased for all grades of scrap, but the biggest supply strain remains on new production scrap, used to define the RMDAS prompt industrial composite grade.
Recyclers in both the Northeast and the Southwest report separately that inventory to feed their shredders is healthy and flow is good, but that factors both seasonal and relating to the wider economy are keeping the flow of industrial scrap modest.
A scrap recycler in the Southwest believes a combination of domestic mills with built-up inventory and a slowing of overseas demand will finally reverse the pricing momentum in August.
“Buying is very limited at the moment,” he says. “The mills are fairly full or very full,” he continues, referring to EAF mills both in Texas and in Mexico.
Figures for June compiled by the IISI (International Iron and Steel Institute), Brussels, show only a slight seasonal drop off in June steelmaking compared to May. The June 2008 figure of 118.8 million metric tons was more than 1 million tons lower than for May of 2008. However, it outpaced last June’s production by more than 6 million tons.
Steelmakers in the United States produced nearly 600,000 metric tons less steel in June compared to May, but the figure nearly matched June of last year. Year-to-date, American steelmakers have produced steel at a 4.7 percent higher volume in 2008 compared to 2007.
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An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
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SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
Sponsored Content
SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
Sponsored Content
SENNEBOGEN 340G telehandler improves the view in Macon County, NC
An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).
In the first six months of 2008, China produced 263 million metric tons of crude steel, an increase of 9.6 percent compared to the same period in 2007. Overall, Asia produced 68 million metric tons of steel in June 2008, representing an 8.7 percent increase over what was produced last June.
The Raw Material Data Aggregation Service (RMDAS) Ferrous Scrap Price Index is based on data gathered from a statistically significant compilation of verified ferrous scrap purchase transactions.
RMDAS is a service of Management Science Associates Inc. (MSA),
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