Steel Scrap is metallic scrap that is generated from large-scale manufacturing or fabrication processes involving steel materials. It can be processed and recycled repeatedly, allowing the formation of new materials or products commercially. The scrap is mainly obtained from steel structures such as machinery, packaging, white goods, construction products, vehicles, electrical and electronic equipment, etc. A few more residual contents are found in Steel Scrap, namely, molybdenum, manganese, nickel, and chromium.
The following fields must be considered to mark a good standard of scrap obtained, which include scrap quality, type of scrap obtained, and required scrap size. It does not depict any environmental harm throughout the storage and transportation process. However, if mixed with other elemental wastes or petroleum products, it may cause hazardous environmental effects.
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India, Pakistan, and Taiwan are the key importing countries for Steel Scrap. On the other hand, the key exporting countries include the United States, Vietnam, and the United Arab Emirates.
Key Details About the Steel Scrap Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Steel Scrap price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Steel Scrap Price chart, including India Steel Scrap price, USA Steel Scrap price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Steel Scrap Price Trend:
Steel Scrap is a widely used material that can be recycled and restructured to fabricate a new product line made up of steel. It is a valuable resource that has several applications on the global market. It is used in furniture, lighting fixtures, cabinets, cars, etc.
Steel Scrap is the residual material that remains after the fabrication work. It is obtained from various sources such as used structural items, plants and machinery, domestic goods, vehicles, automotive scraps, mill scraps, the ship-building industry, and railways. The material is then remolded and reused to produce various steel products on an industrial scale, which also includes manufacturing buildings, vehicles, bridges, and more.
Key Players:
- EVRAZ North America
- China Steel Corporation (CSC)
- American Iron & Metal Company Inc.
- OmniSource, LLC
- Hyundai Motor Company
- TSR Recycling GmbH & Co. KG
- European Metal Recycling Ltd.
- Innovative Metal Recycling
- SA Recycling LLC
- Schnitzer Steel Industries, Inc.
- Ward Recycling Ltd, Inc.
News & Recent Development
- Date: February 17, 2023- The All-India Induction Furnaces Association (AIIFA) urges the GST Council of India to consider a reverse charge mechanism in the recycling industry that deals with Steel Scrap services.
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