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The drop in scrap prices so far this year is somewhat weighing on iron ore prices, which rose to a 2.5 year high in mid February. Metal Bulletins 62% Fe Iron Ore Index stood at $54.41 per tonne cfr on Friday June 9, down from $94.86 per tonne cfr China on February 21. Scrap usage Most Chinese mills produce hot metal using iron
Scrap prices. Meanwhile, for US steel producers like Nucor and Steel Dynamics (), steel scrap pricing is a bigger driver than seaborne iron ore prices.The graph above shows the movement in spot hot rolled coil (or HRC) prices plotted against benchmark heavy melting scrap according to data compiled by the Metal Bulletin.As you can see, spot HRC prices have been moving in tandem with scrap prices.
5.13.2 METAL SCRAP. It has the advantage of being cheap and abundantly available. The rate of consumption of mild steel scrap pipes, rails and cast iron scrap castings varies. For mild steel scrap the rate of consumption is 6.69.0 kg/A/year, and for cast iron the rate is 0.99.0 kg/A/year.
Start studying C1.3 Metals and their uses. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Suggest why smelting then electrolysis is not used for extracting copper from low grade ore scrap iron is cheap iron displaces copper from the solution. Outline the process of phytomining in extracting copper
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Mar 08, 2018The fast rising scrap market has outpaced iron ore prices, making iron ore the most cost effective raw material for mills. Based on the analysis, domestic scrap is statistically $31/mt overvalued, when compared with iron ore (using historical pricing data from May 2013 to February 2018).
Sep 27, 2018Scrap iron prices vary depending on the price of iron ore, the condition or amount of contaminants in the scrap iron, and the type of the scrap iron. Iron ore prices help explain long term trends in scrap iron prices, while knowing the type and quality of your iron will help you determine what price your local recycler will pay for the scrap.
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Iron ore price overhangs ferrous scrap market The ferrous scrap metal sector within the UK continues to come under pressure as market demand for scrap weakens because of lower iron ore prices. And, there have been developments at the top two companies in the UK market EMR and Sims Metal Management this month.