It is reported that scrap prices have continued soaring in global market since October 2010. The price hike have amounted USD 150 per tonne in the past two months due to lack of scrap caused by the harsh winter, strong demand from the US and the active purchase from Turkey.

It is known that the scrap prices in the US domestic market have hit the highest level since August 2008, which have soared sharply by USD 45 to USD 75 per long tonne in January 2011.

As the shortage of scrap has existed in the global market, it is predicted that the scrap prices would increase further by USD 40 to USD 50 per tonne in January 2011.

(Sourced from YIEH.corp)