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BIR releases Ferrous World Mirror- May '14

iconMay 13, 2014 16:32
Source:SMM
The Bureau of International Recycling (BIR) has released the latest Ferrous Metals World Mirror-May ’14.

BRUSSELS (Scrap Monster): The Bureau of International Recycling (BIR) has released the latest Ferrous Metals World Mirror-May ’14. The report indicates that the global steel scrap recycling industry is currently undergoing a process of restructuring.

The steel scrap market in Europe is expected to move sideways to slightly downwards. The tight margins on operation are seen forcing many large scale operators to review their operations and idle more of their capacities. Many operators are believed to be operating only at around 50% of their installed capacity.

The US scrap import prices in May are expected to maintain May levels. The Indonesian elections are seen delaying scrap imports by US steel makers.

The H2 scrap prices witnessed huge decline since December last year. The four-month period ending mid-March this year saw 27% fall in H2 scrap prices. Although it staged a recovery of nearly 15% during April, the prices have continued to sustain strength thereafter. The purchase by mills before early-May holiday season too remained weak this year.

In the Asian region, Japanese Tokyo Steel had announced production cuts by one-fifth in April this year. The ferrous scrap imports by India during April ’13 through December ’13 dropped more than 40% over the previous year, primarily owing to higher import duties and slackening domestic demand. In Russia, domestic scrap prices are expected to remain flat.

The Ferrous World Mirror also quoted the ‘World Steel Recycling in Figures’ which suggests that global external steel scrap trading declined sharply by 9.5% during the previous year. The scrap shipments from the US have declined by 13.6% over the year to 18.50 million tons. The EU scrap exports too tumbled 14.1% to 16.83 million tons. The overall Turkish scrap imports fell almost 12% to 19.73 million tons.
 
Author: Paul Ploumis 

BIR
ferrous scrap
non-ferrous scrap
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Ferrous World Mirror
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