The chart illustrates historic world scrap prices. The prices shown are average world export f.o.b. prices in US $ per metric tonne.
As an average, these prices are highly influenced by scrap export prices from the USA which dominates global scrap export trade.
Typical trade volumes in recent months have been approx. 4-5 million tonnes of ferrous scrap per month, globally.
The chart below illustrates MCI's forecast of the average global ferrous scrap price [f.o.b. basis] from early 2011 through to end-2015. These forecasts were independently prepared using MCI's in-house econometric model. For further information about this price forecasting model, please contact MCI@steelonthenet.com.
The forecasts indicates that after attaining a 'mini-peak' in early 2011, international scrap prices will fall back during 2011 and 2012. They will then reach just over $400/tonne by mid-2013, gradually then rising to ~$440 per tonne by end-2015.
The forecasts above were last updated in May 2011.