How much is the price of steel scrap per ton? This is a question that has attracted the attention of many activists in the field, given the increasing trend in the price of steel scrap per ton in global markets. Is the price of iron scrap also affected by the recent thrill of the steel market?
We have continued the growth of iron ore prices in recent weeks. This was due to the decline in the supply of this product and the anticipation of its lack of market. The cause of the incident was an incident at one of the world’s largest iron ore producers, Vale, Brazil. Brazilian vale dam collapse.
Continued growth in the price of iron ore has steadily increased its impact on iron and steel scrap prices. Increasing demand for iron scrap has stimulated its market and increased its prices. Therefore, with the price of iron scrap and the price of iron ore, the price of steel is also affected and is on the upside. Now steel makers are well aware of the significant growth in the price of this product, as the question “How much is the price of steel scrap per ton?”.
Market price of scrap iron
We expect a rise in the price of steel scrap per ton in the global market. The reason is the increase in steel import tariffs to the US by 25% and the plan to increase steel production in this country. More than 67% of US steel is produced in arc furnaces. As we know, the main charge of these furnaces is iron scrap. Currently, the United States produces about 78 million tons of steel a year, of which 67 per cent is arctic, with about 56.7 million tons of iron per year.
The United States, along with the European Union, is one of the largest iron scrap exporters in the world. Annual exports of scrap metal from the United States are more than 13.8 million tons. The steel production increase program will reduce the export of iron scrap and the lack of its supply in the market. This could be a driving force for jumps in the global scrap iron prices.
current price of scrap steel per ton
The latest price of EU iron scrap iron scrap price in turkey cfr, is about $ 317.4 per tonne on March 8, 2019. The last price change for iron scrap is about +4.7% in the global index of commodity prices.