The scrap market’s “pretty stagnant right now,” said Randy Boudreaux of Southern Recycling in New Orleans, with prices staying about the same the last few years. The average scrap value for a jumbo open hopper barge is $55,000, down from $90,000 in 2008. But that’s still up from $20,000 a decade ago.
Domestic scrap demand has held steady, but overseas demand is down a bit, Joe Pickard, chief economist and director of commodities, Institute of Scrap Recycling Industries, said.
Scrap prices have not moved much in the past three years (See chart). The volume of ferrous scrap exports is down 26% year-over-year through May to 5.9 million metric tons. — D.K. DuPont
SCRAP PRICES
Benchmark No. 1 HMS (heavy melting steel), price per gross ton:
JUNE PRICE
2005 $120.83
2006 241.67
2007 240.83
2008 498.50
2009 184.50
2010 324.83
2011 414.17
2012 347.50
2013 325.83
2014 357.50
Source: Institute of Scrap Recycling Industries Inc.
