[TheForge] Metal Prices!

[ries]

On Jun 18, 2010, at 5:16 PM, Jerry Smith wrote:


Yes I have, but the local scrap yard guys are selling all the steel  
they can to China at the moment.

Jerry

Jerry- you sure about that?
The USA, as a whole, makes about half the steel we make from scrap.
Depends on the economy, of course, how much steel we make here in the  
USA- before a couple of years ago, when things were booming, we were  
making a bit over 100 million tons a year of steel domestically.
Last I heard, these days its more like 80 million tons.
Of those 80 million tons, about half, thats FORTY MILLION TONS of  
steel is made right here in the USA from scrap steel.

Nucor likes to keep on hand, at each of its 20 or so mini-mills, about  
a million tons of scrap at any given time.

What this means is that our export of scrap to China is a lot less  
than the "common wisdom" thinks it is.
In 2009, the best figures I can find indicate we sold about 6 million  
tons of scrap to China, the most ever.

So- domestic use of scrap to make new steel-
40 million tons.
export of scrap to China-
6 million tons.

4 times out of 5, your scrap is going to US mills instead of China...

ries





You guys seeing that sort of [extreme] price increases?



Wes (aka William the Tinker)




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Three cavemen are sitting by the fire when a guy with a spear starts  
running
towards them.

One fights, one flees, the third invites the guy to sit by the fire.

The third guy did not live long enough to procreate.

Niceness is not a survival trait!






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Ries Niemi
Industrial Artist
http://www.riesniemi.com/