Prices
January 13, 2015
Asian Scrap Market Pricing Trying to Find Parity with Iron Ore
Written by Damon Sun
The following article comes to us from one of our Asian scrap sources, Damon Sun of Daido International.
The Asian scrap market is a bit quiet and continued slow downtrend as scrap metal pricing tries to find parity with iron ore. A rough calculation of scrap to iron ore is a ratio of 3.5 to 1. Therefore, $70/dmt (dry metric ton) iron ore translates to roughly $245/mt (metric ton) scrap equivalent. At moment, the latest prices for containerized HMS (heavy melt scrap) is $260/mt CFR basis.
