JUNE SCRAP PRICES 2017
It’s that time of month again. Scrap prices for June are taking a slight dip. The amount is so small that it should not prevent you from scrapping your car. Scrap metals are making a comeback. Shredded scrap metal demand has gone up 17% this year compared to this time last year. What’s interesting is that Turkey is bringing in more scrap metal from the U.S. and the Netherlands. China seems to be slipping to the background. What is really significant is Thailand.
Thailand’s trade statistics showed that in April 2017, Thailand imports of scrap steel totaled 108,000 tons, increased by 97.3% compared with the same period of last year, growth of 54.4% compared with previous month.
Among them, Thailand’s scrap imports from the United States was up to 73,000 tons, significantly grew by 3176.6% compared with the same period of last year; the imports from Australia totaled 6,000 tons, grew by 103% compared with the same period of last year. provided by yieh.com
ANTI-DUMPING ACTIONS: The Ministry of Industry and Trade in most countries discourage dumping ‘cheap’ steel in any country. They call it ‘anti-dumping’ laws. It is not always strictly controlled. Additional tariffs will be levied on imported steel products as a temporary safeguard measure against cheap imports which have allegedly threatened the local industry. [ When India dumped (cheaper) steel in Thailand (May 2013) the governing powers had a 33.11% duty applied to the goods.] It’s also a safeguard for any one country to become a monopoly and corner the market for their own gains. We now read that China’s scrap metal prices have gone up by 20% (as they promised). And, it looks like business is shifting. Let’s keep our fingers crossed.
Looking closely at the imports/exports around the world, there is a small decline in pricing for early June. We may be feeling the aftermath of May’s outcome. Fortunately, the overall forecast is looking good. We should see prices creeping back up in July and August.
In the U.S., shredded scrap steel prices stabilized after a 7.1% drop the previous month. (May 2017) Shredded scrap’s June price point is the metal’s second-highest of 2017. provided by AGMetalminer.com
The question you want to ask, “Are prices going up or down?” According to Donald Trump’s administration, the U.S. scrap metal prices went higher than the market could bear. The U.S. had to drop their prices in the last 2-3 month in order to compete with countries such as China.
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