Scrap Prices North America
May 4, 2017
How Soon Before Chinese Scrap Makes its Way to USA?
Written by John Packard
Ferrous scrap prices settled in Detroit with prime grades (bundles/busheling) settling at $360 per gross ton. At the same time there is Chinese auto bundles for sale at very low prices FOB China. Chinese scrap exports are new for the Chinese and there are issues that need to be overcome before they become major suppliers of the product onto the world stage (including the United States).
SMU originally reported the Chinese as exporting ferrous scrap on April 19th. Chinese low residual auto bundles (prime grade) are being offered for export by traders at $210 per metric ton, FOB Chinese port. That price was shared with Steel Market Update last evening by one of the active traders in China who is shipping this material to Hong Kong and the Middle East.
