In 2023, the global stainless-steel scrap market experienced a tumultuous year. Asia faced falling prices in the first quarter due to weak demand and rising inventories, with sluggish overseas movements contributing to price declines. China briefly saw an upturn in the early second quarter driven by high feedstock costs and robust end-user demand, but this was short-lived as low-cost raw materials led to another price dip later in the quarter.
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Europe maintained stability in the first quarter, followed by positive momentum fueled by automotive sales and rising feedstock prices, but economic challenges caused a downturn in the latter part of the second quarter. In North America, prices remained stagnant initially due to construction demand and high raw material costs, but inflation and economic issues reversed the positive trend in the second quarter.
Definition
Stainless-Steel Scrap refers to discarded or surplus stainless-steel materials, including various alloys like 304 and 316. Stainless steel is prized for its corrosion resistance, durability, and recyclability. Stainless-steel scrap typically consists of items like cuttings, sheet metal, and industrial machinery components. These materials can be collected, recycled, and repurposed for various industrial applications. Stainless-steel scrap retains the desirable properties of stainless steel, making it valuable for producing new stainless-steel products, such as pipes, sheets, and components, while reducing the need for virgin stainless steel production and conserving resources.
Key Details About the Stainless-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 Stainless-Steel Scrap 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 Stainless-Steel Scrap Price chart, including India Stainless-Steel Scrap price, USA Stainless-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 the Stainless-Steel Scrap Price Trend:
Stainless-steel scrap is a valuable resource in various industrial applications due to its desirable properties. In the manufacturing sector, it is often melted down and recycled to produce new stainless-steel products, including pipes, tubes, sheets, and components. This recycling process conserves resources and reduces the environmental impact of stainless-steel production. Stainless-steel scrap is crucial in the construction industry for structural elements like beams, columns, and reinforcement bars, thanks to its corrosion resistance and strength. It also finds applications in machinery and equipment manufacturing, automotive components, and aerospace materials. Its recyclability and durability make stainless-steel scrap an essential material in a wide range of industrial sectors.
Key Players:
- Baosteel Group Corporation
- EVRAZ North America
- BlueScope Steel Ltd
- China Steel Corporation
- Commercial Metals Company
- Hyundai Motor Company
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