MONDAY, NOVEMBER 14, 2016 / VOLUME 124 / NUMBER 46-1 / ESTABLISHED 1882

Hot-rolled sheet heads north

on mill hikes, trade action
CHICAGO U.S. hot-rolled sheet
prices have jumped on the heels of
a second round of mill price hikes,
market participants said.
A third round of price hikes
could be on the way as lead times
stretch into 2017. Such a move
would follow U.S. mills price
hikes of $3 per hundredweight
($60 per ton) over the past month
(amm.com, Nov. 8).
The question is, is this a flash
in the pan, or does it have enough
legs to become sustainable? one
West Coast steel buyer said of
steels price gains.
Factors supporting steeper
steel prices range from higher

Forward march. A third round of price

hikes could be on the way as lead
times extend, raw material tags jump
and politics light up the trade arena.

costs for raw materials such as

scrap (amm.com, Nov. 4) and
coal (amm.com, Nov. 9), to the
prospect of higher barriers
to imports and increased
infrastructure spending under
the administration of Presidentelect Donald Trump (amm.com,
Nov. 9), sources said.
Additional trade actions
could follow the U.S. Commerce
Departments recent decision to
proceed with anti-circumvention
cases vs. cold-rolled and coated
flat-rolled steel from Vietnam
(amm.com, Nov. 7).
How could it not go up
with scrap, and
PAGE 2

Manganese alloys soar in response to ores run

NEW YORK U.S. manganese
alloy price gains ramped up
this past week as the effect of
skyrocketing raw material costs
carried over into alloy pricing in a
significant way.
U.S. high-carbon
ferromanganese spot prices
reached a nearly 20-month high
of $970 to $1,025 per long ton,
according to AMMs assessment,
up an average of 11.5 percent from

$870 to $920 per ton previously.

Similarly, U.S. silicomanganese
spot prices moved to a 16-month
high of 47 to 52 cents per pound,
up an average of 7.6 percent
from 44 to 48 cents per pound
previously. Prices had been
assessed at $840 to $880 per ton
and 43 to 45 cents per pound,
respectively, Oct. 27 (amm.com,
Nov. 1).
Manganese alloys are coming

on very strong right now, and this

run seems like it has some legs to
it, a supplier source said, citing
the tightening market and high
replacement costs.
As the market tightens and raw
material costs rise, producers
have been empowered to elevate
offers to traders and suppliers
by significant margins. I cant
even purchase material for
what I am selling at
PAGE 2

WTO consultation sought

on US flat steel duties

Noranda Income Fund

warns of financial hit

Sims sees positive path

for ferrous scrap exports

Brazil has gone to the World Trade

Organization (WTO) over the
United States decision to impose
anti-dumping and countervailing
duties on imports of hot- and coldrolled coil.

Noranda Income Fund warned in

its third-quarter earnings report
of a future financial burden due to
its recent supply deal renewal with
Glencore Canada Corp. that will
assess zinc concentrate purchases
at market price.

Sims Metal Management Ltd.

expects to deliver improved
results in fiscal 2017 based on a
combination of stronger ferrous
scrap export demand and
completed restructuring efforts.

PAGE 3

PAGE 6

METAL IS OUR SPECIALTY,

SERVICE IS OUR STRENGTH

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

PAGE 10

WWW.AMM.COM

STEEL
UPI lifts steel sheet
prices $30/T

PAGE 3

SUPPLY CHAIN
Andes Coil Processors adds
slitter at Dallas plant
PAGE 4
Brazilian pig iron export
prices rise $5/T
PAGE 4
Alro buys certain Triad Industrial
Sales assets
PAGE 4

NONFERROUS
Kaiser denies threatening
former employee
PAGE 6
Trump presidency seen
positive for copper
PAGE 6
Aluminum imports into US
rise in September
PAGE 7
Billet upcharge finds footing
amid slack spot demand PAGE 7
Tin prices to rise, threatening
demand: analyst
PAGE 7
CME chief Phupinder Gill
to retire at year-end
PAGE 8
HudBay resumes Constancia
operations in Peru
PAGE 8

SCRAP
Aluminum scrap up, but fails
to catch LME wave
PAGE 10
Keywell upgrading Pennsylvania
turnings operation
PAGE 11

NUMBER OF THE DAY

$137M

Year-on-year controllable cost

reduction, in U.S. dollars, derived
from resetting initiatives effected
by Sims Metal Management Ltd.
in fiscal 2016.
PAGE 10

www.rsac.com

NEWS

Hot-rolled sheet heads

north on mill hikes,
trade action
CONTINUED FROM PAGE 1
(with) Trump talking about
infrastructure and stopping
dumping? one Midwest service
center source asked.
Mills may also be trying to
spark a fourth-quarter price rally
following a prolonged pricing
slump, sources said. In doing so,
they would appear to be taking a
page from last years playbook,
when producers pushed prices
higher beginning in late December
and early January following a
steep price plunge earlier in the
year, sources said.
There is little question that
higher prices are gaining traction
and will continue to rise in the
short term, most sources agreed.
But mills may meet resistance if
service centers are unable to raise
prices for downstream customers,
some said.
Even with the published
increases, were getting beat up on
first-quarter orders. Were losing
them if we try to raise our prices
just a couple of cents because
our competition isnt, a second
Midwest service center source said.
The mills ability to pass
along higher steel prices is also
meeting resistance in the form
of a deep distrust on the part of
some customers, such as smaller
fabricators, who dont have faith
in either mills or distributors
following a year of extreme price
volatility, sources said.
Another factor is a growing
concern that automotive demand
might be falling off (amm.com,
Nov. 2), some said, citing recent
production cuts at Detroitbased General Motor Co.s auto
assembly plant in Lordstown,
Ohio, as a potentially ominous
sign (amm.com, Nov. 10).
The mills are trying to show
discipline, but Im questioning
whether the fundamentals are
there, one steel buyer in the
South said.
The hot-rolled coil price, in
the meantime, stands at $25 per
cwt ($500 per ton), up 4.2 percent
from $24 per cwt ($480 per ton)
previously, according to AMMs
assessment.
Lead times average three to four
weeks, compared with less than
two weeks at some mills as recently
as mid-October, sources said.
NOVEMBER 14, 2016

Cold-rolled coil prices have

clocked in at $36 per cwt ($720
per ton), up 2.9 percent from $35
per cwt ($700 per ton) previously,
while hot-dipped galvanized base
prices rose 2.8 percent to $36.50
per cwt ($730 per ton) from $35.50
per cwt ($710 per ton) previously.
Cold-rolled lead times average
six weeks and galvanized lead times
about seven weeks, sources said.
MICHAEL COWDEN
MCOWDEN@AMM.COM

PRICING AT A GLANCE
NYMEX
Copper
Hot-rolled coil
Gold
Platinum
Silver

250.65
$492.00
$1,223.50
$943.20
1,736.40

LME
Aluminum

$1,777.00

Copper

$5,900.00

Lead

$2,151.50

Nickel

$11,735.00

Zinc

$2,528.50

Manganese alloys soar

in response to ores run
CONTINUED FROM PAGE 1
now. I havent received a single
ferromanganese offer from a
producer at under $1,100 per gross
ton, since they can see that it is
coming, this supplier added.
As the market closes in on
the 2017 contract negotiation
period, traders and suppliers are
scrambling to shore up stocks after
a prolonged period of inactivity
due to sluggish demand.
The market has certainly
woken up now, a second supplier
source said. Many traders
assumed the material was around,
but it isnt. And now the huge run
in manganese ore is built into the
replacement costs.
Manganese ore prices have
embarked on a steep climb over
the past several months, as prices
for 44-percent manganese ore
reached $8.49 per dry metric ton
unit (dmtu) c.i.f. Tianjin, China,
Nov. 11, according to AMM sister
publication Metal Bulletins
assessment, up 2.7 percent from
$8.27 per dmtu previously.
Meanwhile, prices for 37-percent
manganese ore increased to $7.14
per dmtu f.o.b. Port Elizabeth,
South Africa, according to Metal
Bulletin, up 2.3 percent from $6.98
previously.
The historic rise in manganese
ore prices has been attributed to
a shortage of stockpiles at South
African ports, particularly Port
Elizabeth. This price rally might
not slow down, as Port Elizabeth
is expected to halt manganese
ore shipments for three weeks in
January to replenish stockpiles,
according to Metal Bulletin.
The run in raw material costs
has similarly been felt in Europe,
further limiting opportunities
for traders or suppliers to acquire
material at cheaper rates.
European high-carbon
ferromanganese has soared
to 1,000 to 1,100 ($1,086 to
$1,194) per tonne, according to
Metal Bulletin, up an average of
18.3 percent from 850 to 925
per tonne previously. European
silicomanganese hasnt been
immune to the ore price increase,
with prices jumping to 950 to
1,000 ($1,031 to $1,086) per tonne,
up an average of 11.4 percent from
820 to 930 per tonne previously.
Early negotiations between
mills and suppliers for 2017
contracts have shown drastically

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reduced discount offers, as

suppliers have attempted to seize
control due to a shortage of supply
options and rising costs.
A silicomanganese supplier
noted that a contract for 2017 was
booked at a discount of roughly
2 percent off index pricing. I
booked a contract for 2017 at a
discount and it was a little too easy
... that is probably the last discount
I will be offering, he added.
A high-carbon ferromanganese
supplier is also expecting to trim
discounts significantly from last
years levels. Last year, discounts
were at least in the double digits,
and I dont even think we will be at 5
percent anymore, the supplier said.
Market participants suspect
these trends will continue through
the negotiation season.
CHRIS KAVANAGH
CHRISTOPHER.KAVANAGH@AMM.COM

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AMM PAGE 2

STEEL

Consultation
sought by
Brazilians on
US duties
LONDON Brazil has gone to the
World Trade Organization (WTO)
over the United States decision
to impose anti-dumping and
countervailing duties on imports
of hot- and cold-rolled coil.
Brazil today requested a
consultation procedure at the
WTO, the countrys foreign
affairs ministry told AMM sister
publication Metal Bulletin Nov. 11.
This case could eventually
challenge U.S. trade defense
measures against Brazilian steel
exports.
Brazil and the USA will now
meet, and if U.S. explanations are
not enough a panel procedure
can be opened at WTO after
the consultation process, the
ministry said.

Brazilian foreign trade

ministry MDIC warned at the end
of October that it would lobby the
WTO over U.S. flat-rolled import
duties (amm.com, Oct. 25).
The U.S. Commerce
Department in July set final
countervailing duty margins
at 11.09 to 11.31 percent for
Brazilian cold-rolled coil, while
anti-dumping margins were set at
14.43 to 35.43 percent (amm.com,
July 21).
The United States in August
imposed a countervailing duty
of 11.09 to 11.2 percent against
imports of hot-rolled steel from
Brazil, as well as anti-dumping
margins of 33.14 to 34.28 percent
(amm.com, Aug. 5).
ANA PAULA CAMARGO
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication Metal Bulletin.

UPI increases steel

sheet prices $30/T
CHICAGO USS Posco
Industries Inc. (UPI) has
increased base prices for all steel
sheet products by a minimum
of $30 per ton ($1.50 per
hundredweight).
The increase applies to pickled
and oiled hot-rolled coil, as well
as cold-rolled coil and galvanized
material, the Pittsburg, Calif.based steelmaker said in a Nov. 10
letter to customers, noting
that the move was effective
immediately.
We reserve the right to review
and requote any offers not
confirmed with either a UPI sales
acknowledgement or written
acceptance by both parties, the
joint venture between Pohang,
South Korea-based Posco Ltd.
and Pittsburgh-based U.S. Steel
Corp. said.
UPIs increase comes
after mills east of the Rocky
Mountains have pushed to lift

prices by $60 per ton ($3 per cwt)

over the past month (amm.com,
Nov. 8).
MICHAEL COWDEN
MCOWDEN@AMM.COM

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AMM PAGE 3

SUPPLY CHAIN

Andes Coil
Processors
adds slitter at
Dallas plant
NEW YORK Andes Coil
Processors LLC has added toll
processing services at its Dallas
facility with the installation of a
new 60-inch custom slitter.
The slitter, which was installed
in September and features
shape-correction capabilities,
can process materials ranging
between 0.015- to 0.250-inch
gauge and master coils measuring
up to 72-inch in outside diameter
and weighing a maximum of
50,000 pounds.
Prior to the installation of the
slitter, the Dallas facility served as
a storage and logistics hub
The market continues to show
a strong interest in localized
processing, Josh Dubois, general
manager, said in a statement.
Logistical costs and the benefit of
local relationships have been the
main drivers. This trend fulfills
both the need for lower landed cost
and the desire to conduct business
with someone who lives in your
community and cares about the
health of your business.
As a toll processor, Andes
does not actually own the steel it
runs through its lines but rather
provides processing and logistical
services to customers, the
company noted.
In recent years, Andes has
also added slitting capability
at its Lewisville, Texas, facility
(amm.com, Aug. 28, 2013) and
Gary, Ind., plant (amm.com,
May 15, 2015). In September, the
Lewisville-based company also
expanded rail service at its Gary
facility (amm.com, Sept. 22).
GRACE LAVIGNE
GRACE.LAVIGNE@AMM.COM

NOVEMBER 14, 2016

Brazilian pig iron Alro buys certain

export prices rise Triad Industrial
LONDON Brazilian pig iron
Sales assets
export prices logged a fourth
consecutive weekly gain this past
week following fresh deals and
a general pricing uptrend in the
steel market.
AMM sister publication Metal
Bulletins weekly assessment for
Carajs-origin pig iron exports
moved to $295 to $300 per tonne
f.o.b. Nov. 11 from $290 to $295 per
tonne f.o.b. a week earlier. Prices
last touched the $300-per-tonne
level in May, when the Carajs
assessment was at $280 to $300
per tonne.
A 70,000-tonne pig iron sale
was booked from Carajs to the
United States this past week at
$295 per tonne f.o.b., a Brazilbased source said.
But with most (steelmaking
raw material) prices on the rise,
new offers are already being placed
at $300 per tonne f.o.b., he said.
Prices should settle above $300
per tonne f.o.b., but Im not sure
about the exact value.
Meanwhile, Metal Bulletins
weekly assessment for Minas
Gerais-origin pig iron was at $270
to $275 per tonne f.o.b. Friday, up
from $265 to $270 per tonne f.o.b.
the previous week.
This increase reflected a deal
that closed this past week in
which a cargo from Minas Gerais
was purchased by a European
client at $270 per tonne f.o.b., a
Brazilian trader said, noting that
new offers were reported in Brazil
at $275 per tonne f.o.b., as buyers
are accepting higher values since
nobody knows when prices will
stop increasing.
Brazilian pig iron export
volumes totaled to 101,105 tonnes
in October, down 36.7 percent from
159,766 tonnes in the same month
last year, national foreign trade
ministry MDIC said this past week.
ANA PAULA CAMARGO
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication Metal Bulletin.

NEW YORK Alro Industrial

Supply has acquired certain assets
of Triad Industrial Sales Inc. in
Kernersville, N.C., in a bid to
expand its geographical reach and
product and service offerings.
The terms of the transaction
were not disclosed, according
to Brian Glick, vice president
of business development and
marketing at parent company Alro
Steel Corp.
While Alro currently sells
metals and plastics on the East
Coast, this is a new geography for
Alro Industrial Supply, he told
AMM via e-mail.
Triad was founded in 1991
as a cutting tool distributor by
Howard and Darlene Chipman,
Alro Steel said.
Darlene currently runs the
business and will remain with Alro
through the transition period,
Alro Steel said Nov. 11. This
transaction will provide significant
benefit to Triads customers both
in our broad product range and
our proprietary SmartCell Tool
Management Solution.
Chipman declined requests for
additional comment.
Alro Industrial Supply has
locations in the Midwest and
Florida, and specializes in
cutting tools, abrasives, coolant
and welding supplies, as well
as maintenance, repair and
operations products. Both Alro
Steel and Alro Industrial Supply
are based in Jackson, Mich.
GRACE LAVIGNE
GRACE.LAVIGNE@AMM.COM

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AMM PAGE 4

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NONFERROUS

Noranda
Income Fund
warns of
financial hit
NEW YORK Noranda Income
Fund warned in its third-quarter
earnings report of a future
financial burden due to its recent
supply deal renewal with Glencore
Canada Corp. that will assess zinc
concentrate purchases at market
price.
The fund announced Nov. 3 that
it had received confirmation from
Glencore Canada that the latters
supply of zinc concentrate for the
zinc processing facility operated
by Canadian Electrolytic Zinc Ltd.
(CEZ) in Salaberry-de-Valleyfield,
Quebec, would be extended for five
years (amm.com, Nov. 3).
Reaching the agreement was
a significant achievement
because it will remove a

NORANDA INCOME FUND

(in thousands)

2016
3rd qtr. ended Sept. 30
Net sales
$200,202
Net income (loss)
(10,361)
9 months ended Sept. 30
Net sales
$529,082
Net income (loss)
(24,478)

2015
$183,210
6,201
$558,043
26,051

In Canadian dollars.

significant element of uncertainty

for operations, CEZ president
and chief executive officer Eva
Carissimi said in the funds thirdquarter earnings call Nov. 11.
However, Carissimi warned that
the agreement, which is now based
on market terms that are different
and generally less favorable than
a fixed processing fee, will likely
negatively impact the companys
financial results beginning in the
second quarter of next year.
She said that forecasting
what the exact impact will be
is difficult because a number
of factors will come into play,
including treatment charges, the
U.S.-Canadian exchange rate and
zinc prices.
The fund is working diligently
to improve operations at the
facility to deal with the challenges
ahead, including operating the
plant at a profit once the market
terms take effect, Carissimi said.
The company is taking steps to
increase its plant capacity and
improve safety in order to reduce
NOVEMBER 14, 2016

the financial impact.

Since the company is still
working through the details of
how it will arrive at market terms,
Carissimi was unable to provide
further information on the
agreement.
The company had been in
discussions with Toronto-based
Glencore Canada, a subsidiary of
Baar, Switzerland-based Glencore
Plc, regarding the supply deal since
April 2014 (amm.com, July 26).
Meanwhile, zinc metal sales
at the fund jumped 17.3 percent
to 69,662 tonnes in the third
quarter from 59,411 tonnes in the
year-earlier quarter. In addition,
production rose 3.1 percent to
67,815 tonnes in the third quarter
from 65,800 tonnes a year earlier.
However, the fund remained
in the red due to lower zinc metal
premiums and lower by-product
revenue, which were only partially
offset by the higher sales volumes.
The company also reported
a Canadian $21-million ($15.5million) non-cash impairment
charge, primarily due to the recent
tightening of zinc concentrate
supply, which has put downward
pressure on both current and
expected future treatment charges
for zinc smelters.
The company maintained its
2016 production and zinc metal
sales guidance of 265,000 to
275,000 tonnes.
MILLICENT DENT
MILLICENT.DENT@AMM.COM

Kaiser denies
threatening
former employee
NEW YORK Kaiser Aluminum
Corp. denies making statements
that were threatening to a former
employee upon learning that he
was resigning his position to take
one with a Chinese competitor,
according to a court document.
Kaiser contends it didnt behave
with any ill-will or malice toward
Paul Ainsworth, a former technical
manager at the companys
Trentwood rolling mill in Spokane,
Wash., upon learning that he was
leaving the company to take a
position with Shandong Nanshan
Aluminum Co. Ltd., the Foothill
Ranch, Calif.-based company said
in a Nov. 9 filing in U.S. District
Court in eastern Washington.
Ainsworth last month alleged
that Kaiser threatened to ruin his

career for taking a new job with

Nanshan in China, claiming that
a lawsuit launched by Kaiser in
September was a punitive measure
(amm.com, Oct. 21). However,
Kaiser maintains that its earlier
allegations that Ainsworth
accessed confidential information
to use at his new job are legitimate
(amm.com, Oct. 4), and that
Ainsworth was unable to provide
a satisfactory explanation for his
behavior.
All of Kaisers conduct with
respect to Mr. Ainsworth has
been in good faith and without
any malignant motivation, the
company said in the latest filing.
All of Kaisers acts with respect
to Mr. Ainsworth were privileged
and/or justified. All of Kaisers
acts with respect to Mr. Ainsworth
were done for legitimate business
purposes. Kaiser has a duty to
protect its intellectual property
investments. Kaiser also has a
duty to protect its position, as an
American manufacturer, in the
global aluminum market place.
Ainsworths explanation
for accessing about 70
confidential documents
detailing the Trentwood facilitys
manufacturing practices and
technical specifications of
productsto purportedly train
his successordid nothing to
assuage Kaisers fears, the
company said.
To the contrary, the
explanations that Mr. Ainsworth
provided were farce and served
only to height Kaisers reasonable
fears, the company alleged in
the court document. The truth is
that Mr. Ainsworths explanations
simply could not bear their own
weight.
A conference in the case is
scheduled for Dec. 16, according to
the courts online docket.
KIRK MALTAIS
KIRK.MALTAIS@AMM.COM

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Goldman sees
Trump presidency
as a positive
for copper
CHICAGO Goldman Sachs Group
Inc. is re-evaluating its previous
copper forecast after Donald
Trump won the presidential
election Tuesday night, crediting
the change to a potential massive
influx of stimulus spending on
infrastructure projects.
Trumps economic advisers
in late October detailed plans to
finance up to $1 trillion in new
infrastructure spending over the
next decade.
Additionally, one of Trumps
first statements regarding the U.S.
economy was to launch a joint
coalition infrastructure program
that Goldman Sachs estimates will
average $100 billion per year.
U.S. infrastructure is crumbling
and Trumps promise to spend
heavily will boost demand for
metals. Infrastructure stimulus
isnt expected to start until the
third quarter of 2017 and would
have its largest effect on steel, zinc
and nickel.
After the election result, metals
and bulk commodities continued
to rally, with copper leading the way
in the base metals space, alongside
a further increase in U.S. 10-year
bond yields and raised expectations
of a major U.S. fiscal stimulus
and stronger global growth in the
coming years, Goldman Sachs said
in a research note.
Speculative positioning has
surged to the highest level since
mid-2011, when prices were
trading near $10,000 per tonne.
The bank credited the surge to
growing evidence over the past few
weeks that China will increase base
metals purchases.
The positioning data suggests
the market is positioned for a
significant (further) pickup in
Chinese and/or global metals
demand growth at current prices,
the New York-based investment
bank said.
Goldman Sachs last month
revised its copper price forecast
upward by 3 to 5 percent from
prior levels due to steady Chinese
demand, although the market
remains oversupplied and mine
growth is projected to keep the
long-term outlook depressed. It

continued
AMM PAGE 6

NONFERROUS
projected the London metal
Exchanges three-month copper
contract would average $4,300 per
tonne over the next three months
and six months, and $4,200 per
tonne over the next year (amm.com,
Oct. 31).
However, the current rally is
forcing the bank to reassess its
prior prediction.
Overall, with global demand
growth prospects and sentiment
improving, we now see the risks
surrounding the level of each of
our (three-, six- and 12)-month
metals price forecasts as skewed to
the upside, Goldman Sachs said.
The LMEs three-month copper
contract closed the official session
at $5,910 per tonne Nov. 11, the
highest close since reaching $5,920
per tonne June 11, 2015.
DALTON BARKER
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication FastMarkets.

Aluminum
imports into US
rise in September
NEW YORK Aluminum imports
into the United States are up for the
month of September, according
to data released by the U.S.
International Trade Commission.
Imports of unwrought
aluminum, excluding those from
Canada, totaled 179,521 tonnes in
September, up from the previous
months total of 160,450 tonnes.
The tally is the third-highest
monthly total of imports for the
year, exceeded only by 193,345
tonnes in March and 212,797
tonnes in June.
The biggest driver for the
months total was imports from
Russia, which totaled 86,763
tonnes for the month, near their
high for the year of 91,463 tonnes
in June. Imports from Argentina
were at a high for the year, at
24,342 tonnes.
The Midwest premium hit
its lowest point for the year in
September, finding a floor at 5.5 to 6
cents per pound (amm.com, Sept. 8)
before beginning a recovery.
AMMs latest assessment of
the premium places it at 7.3 to 7.5
cents per pound, up 28.7-percent
from Septembers low (amm.com,
Nov. 10). Market participants have
told AMM that P1020 is showing
signs of tightness in the United
NOVEMBER 14, 2016

States, which could indicate fewer

imports in October as well as a
switch in market dynamics that
favors sellers (amm.com, Oct. 26).
The aluminum billet market,
meanwhile, has continued to
slide due to pricing pressure from
imports, primarily Russian and
Middle Eastern in origin (amm.com,
Oct. 28). The billet upcharge has
fallen 23.1 percent since the start of
the year, with AMMs most current
assessment placing it at 9.5 to 10.5
cents per pound.
KIRK MALTAIS
KIRK.MALTAIS@AMM.COM

Billet upcharge
finds footing
amid slack spot
market demand
NEW YORK The aluminum
billet upcharge has found stability
as many buyers show no interest in
spot metal for the rest of the year,
looking instead toward 2017.
We are actually destocking
at the moment as demand has
weakened and we are preparing
for end-of-year shutdowns, one
buyer source said.
I had someone e-mail me today.
... I was just like no I cant, I dont
need any of it (material), a second
buyer said.
Billet demand has weakened in
recent weeks, while ample supply
of 6063 extrusion billet is still
available, market participants said.
There appears to be a lot of
units and strong competition, one
supplier source said.
We dont see that many people
shopping that hard, a second
supplier added.
AMMs assessment of the 6063
spot billet upcharge remains
unchanged at 9.5 to 10.5 cents per
pound. Despite indications last
month that the upcharge would
drop further (amm.com, Oct. 28),
market participants said the
upcharge now seems to be finding
stability as it firms below 10 cents
per pound.
Some participants maintain,
however, that spot material can
be sold into the Midwest above 10
cents per pound.
Spot bookings are brisk, a third
supplier said. We usually have
a real challenge at the end of the
year. ... We filled both November
and December up.
The biggest driver for spot

business is residential and

commercial construction, this
supplier said.
Others confirmed that this
segment is attracting higher levels
of business, indicating that the
pickup in business might eat into
the existing supply surplus going
into next year.
Construction and residential
(is) ramping up perfectly to put
(6063) demand over the top,
the second supplier said. Come
spring, things could be tight.
Buyers approach toward
next years contracts might also
influence the billet supply picture
going into 2017.
I get a sense that a lot of
people are looking to play the
billet market more than usual
next year(tightness) could be
a possibility, the second buyer
said. (But) it seems that theres
so much out there.
Contract pricing appears to be
slightly lower than current spot
rates, but market participants are
more likely to leave additional
room for pickup in spot deals.
KIRK MALTAIS
KIRK.MALTAIS@AMM.COM

Tin prices to
rise, threatening
demand: analyst
NEW YORK The price of tin
is expected to rise in the coming
months due to supply concerns,
although demand will likely fall
and substitution will occur if
prices get too high, according to a
metals analyst.
Tin prices are expected to
average $19,500 per tonne ($8.85
per pound) in 2017, with a high
of $24,700 per tonne ($11.20 per
pound) and a low of $17,600 per
tonne ($7.98 per pound), Edward
Meir, an analyst at New York-based
INTL FCStone Inc., said at the
American Tin Trade Associations
(ATTAs) fall meeting in New York.

The London Metal Exchanges

three-month tin contract closed
the official session at $21,560 per
tonne ($9.78 per pound) Nov. 11, up
4.7 percent from $20,600 per tonne
($9.34 per pound) Oct. 28.
Part of the reason behind the
high tin prices is an expected
fall in supply, Meir said Nov. 10.
Approximately 69 tin projects
are currently in the pipeline
worldwide, but none of them have
financing.
They havent kicked off yet. We
wont see much tin coming out,
Meir said.
Indeed, a tin deficit of 900 tonnes
in 2017 is expected to deepen to
9,400 tonnes by 2020, according
to London-based BMI Research,
a division of Business Monitor
International Ltd. (amm.com,
Nov. 4).
Meir warned that if prices get too
high, people will use less or no tin.
Theyll have to figure out how to
make do with less tin.
Consumers could start to
substitute other materials for tin,
which is what occurred in the
nickel market when prices spiked
and the demand for nickel pig
iron, a low-grade substitute for
nickel, took off. Meir said that after
demand for nickel pig iron surged,
the nickel price collapsed.
Another factor contributing
to the high price is an uptick in
demand in China, due to the
government pumping money
into the economy. This led to a
real estate boom that drove up
steel and iron ore prices and
that spilled over into base metals,
Meir said.
Meir predicted that the move
will grind higher for another
four to six months until the real
estate rally softens in the second
quarter of 2017, causing prices to
slack off.
Once real estate slows down,
I think itll start hitting the
nonferrous metals, he said.
In terms of the rally in
commodity prices seen this week

continued

MARKET PRICES
Prices are in cents per pound except as otherwise noted.

AMM Free Market

November 11

Revised

Prior Price

Copper cathode

225.90-256.40

11/11/16

260.20-260.70

Zinc

120.63-121.63

11/11/16

120.78-121.78

87.30-87.50

11/11/16

87.84-88.04

546.97-551.97

11/11/16

545.61-550.61

Aluminum
Nickel, melting
Comex copper settlement

250.65

11/11/16

254.95

No. 2 copper scrap

223.00*

11/11/16

227.00*

Silver, Handy and Harman (/troy oz)

1,771.50

11/11/16

1,856.00

* Nominal for spot sales

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 7

NONFERROUS
due to the hope that Presidentelect Donald Trump will boost
infrastructure spending, Meir said
that he believes its premature and
overblown.
Its not a given that
infrastructure spending will be
passed by Congress, and while
demand for metals could ramp
up if it is passed, its not going to
lead to a big boost in demand for
metals, Meir said. Compared with
Chinas consumption of metals,
were peanuts.
As for Trumps trade policies,
Meir suggested that the Presidentelect take a more cautious
approach because everyone is
in integrated supply chains and
pulling out of trade agreements
haphazardly could ultimately end
up hurting American companies
that are manufacturing products
overseas.
Its not as easy as the sound
bites that hes putting forward.
Once he sees how difficult and
complicated these issues are,
he might swing back to a more
moderate position. Sabotaging all
of these trade agreements could be
dangerous as far as our growth is
concerned.
However, Meir acknowledged
that there are legitimate concerns
with dumping that must be
addressed in order to level the
playing field. Theres no doubt
that countries like China are
dumping lots of metal onto the
markets unfairly.
In the end, Meir said that there
are genuine arguments on both
sides that must be addressed.
Not doing something or radically
doing something could backfire
on us, so (Trump) has to find a
middle ground.
MILLICENT DENT
MILLICENT.DENT@AMM.COM

NOVEMBER 14, 2016

CME chief
HudBay resumes
Phupinder Gill to Constancia
retire at year-end operations in Peru
LONDON CME Group Inc. chief
executive officer Phupinder Gill
will retire at year-end, the Chicagobased exchange said Nov. 11.
Terrence A. Duffy, executive
chairman and president, has
assumed the expanded role of
chairman and chief executive,
CME said.
Bryan T. Durkin, currently
chief commercial officer, has been
named president of CME. The two
will work with Gill over the next
two months during the transition,
it added.
Gill has worked at CME for 28
years, serving in numerous roles
during his tenure. He was named
chief executive in 2012.
Separately, CME head of precious
metals Miguel Vias has left the
company, AMM sister publication
Metal Bulletin has learned.
Vias was appointed head of
precious metals in July following
the departure of Harriet Hunnable,
who is now manager of benchmark
policy at the Financial Conduct
Authority.
Vias, who had joined CME in
2012, will join financial technology
start-up Ripple.
The CME recently announced
it would launch new London spot
gold and silver futures for spot
spreads in January.
The CME, through its Comex
metals division, trades copper,
aluminum, zinc and gold. It
also purchased the New York
Mercantile Exchange in 2008,
where contracts include palladium
and platinum.
CMEs single-day trading
volumes across all asset classes
hit a two-year high of 44,516,949
contracts Nov. 9, with the metals
complex trading at a more than
three-and-a-half year high of
1,511,187 contracts (amm.com,
Nov. 10).
EWA MANTHEY
NEWSROOM@AMM.COM
A version of this article was
first published by AMM sister
publication Metal Bulletin.

NEW YORK HudBay Minerals

Inc. has resumed operations
at its Constancia Mine in Peru
after coming to a resolution with
trespassers in the open pit area, the
company said.
The ramp-up is well under way
... and we expect every(thing) back
to normal levels by tomorrow, at
the very latest, HudBay director
of corporate communications
Scott Brubacher told AMM via
e-mail Nov. 11.
Brubacher added that the plant
was obviously affected but
refrained from giving details about
any impact to production.
The company had temporarily
suspended operations at the mine
this past week due to trespassers
(amm.com, Nov. 9).
The situation was resolved
peacefully with support from the
Peruvian government, according
to the company. Brubacher
was unable to give information
regarding the demands of the
trespassers.
Toronto-based HudBay said
during its third-quarter earnings
call Nov. 3 that it expects full-year
copper production at the mine to
be on the upper end of its initial
guidance of between 110,000 and
130,000 tonnes (amm.com, Nov. 3).
MILLICENT DENT
MILLICENT.DENT@AMM.COM

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 8

November 17-18, 2016

Hilton Rosemont/Chicago O'Hare
Chicago, USA
Key speakers include:

David Stickler, CEO, Big River Steel

Lourenco Goncalves, President and CEO, Cliffs Natural Resources
Peter Marcus, Managing Partner, World Steel Dynamics
Hank Wilson, Senior Vice President, NA Trading, TMS International
Tamara Lundgren, CEO, Schnitzer Steel
Ryan Thrasher, Director of Mexico Operations, OmniSource
Dan North, Chief Economist North America, Euler Hermes
Stanley Davis, Manager Scrap Procurement, Steel Dynamics
Dean Kanelos, Market Development & Product Applications Manager, Nucor Automotive
Herbert Black, President and CEO, American Iron and Metal
Rob Thompson, VP Metallics Raw Materials, Gerdau
Gold Sponsor

amm.com/events/scrap

Silver Sponsor

marketing@amm.com

+1 212 901 3828

SCRAP

Sims sees
positive path
for ferrous
scrap exports
in fiscal '17
NEW YORK Sims Metal
Management Ltd. expects to
deliver improved results in fiscal
2017 based on a combination
of stronger ferrous scrap
export demand and completed
restructuring efforts.
Rising prices across iron ore
and coking coal have increased
the competitiveness of ferrous
scrap based (electric arc furnaces),
as well as the greater use of
ferrous scrap by (basic oxygen
furnaces). These recent positive
trends should lead to improved
demand for ferrous scrap metal,
particularly in the export markets,
during the course of (fiscal 2017),
Sims chief executive officer
Galdino Claro stated in an Annual
General Meeting address Nov. 9.
The companys fiscal year ends
June 30.
The scope of the resetting
work during (fiscal 2016)
was extensive. Twenty-nine
loss-making or non-core facilities
were sold or idled, overhead
costs were lowered and employee
headcount was reduced by 12
percent, Claro said, noting that
these initiatives resulted in a
year-on-year controllable cost
reduction of $137 million.
The New York-based companys
central North American
business completed its extensive
resetting plan, which entailed
multiple closures and asset
divestments to Fort Worth,
Ind.-based Steel Dynamics Inc.
(amm.com, Aug. 12) and Detroitbased Ferrous Processing &
Trading Co. (amm.com, Sept. 20).
In fiscal 2016, Sims North
American metals recycling
segment accounted for 51
percent of group sales revenue
vs. 54 percent the preceding year,
according to the company's annual
report. The divisions total sales
slid 31.3 percent to Australian $2.35
billion ($1.77 billion) from A$3.42
billion ($2.58 billion) in the same
comparison.
After executing the strategies

continued

NOVEMBER 14, 2016

Aluminum scrap climbs, but fails to catch LME wave

PITTSBURGH Aluminum
scrap markets are seeing some
benefit from terminal market
gains, although the effect has been
dampened by reduced demand in
the run-up to year-end, reports of
mixed supply and tight margins in
the secondary alloy arena.
Mill-grade scrap prices,
while up, have failed to move
in lockstep with sharp gains in
primary aluminum prices on the
London Metal Exchange, market
participants said.
The mills do not seem to be
increasing their prices much at all
even though the LME has moved
higher. They cite plenty of scrap
availability and end-of-year
is right around the corner and
watching our inventory levels
as some reasons, one supplier
source said.
There is not much change at
all relating to pricing. (Aluminum
scrap prices are) certainly not
moving with the commodity
index, a second supplier said.
The market is going up and
spreads continue to get wider.
(It is a) good time to buy, one
consumer source noted.
While a second consumer said
mill-grade scrap prices have risen
with the LME, he said that his
appetite is off.
We are out of the market given
that we have been inundated with
scrap the last couple of months,
he said.
The LMEs three-month
aluminum contract closed the
official session at $1,779 per tonne
(80.7 cents per pound) Nov. 11,
up 3.3 percent from $1,721.50 per
tonne (78.1 cents per pound)
Nov. 7 and the highest level since
May 20, 2015, when the contract
closed at $1,790 per tonne (81.2
cents per pound).
Prices for 5052 and 3105
segregated low-copper alloy
clips gained 2 cents per pound in
AMMs assessment, and mixed
low-copper alloy clips and painted
siding stepped up a penny. Used
beverage cans (UBCs) moved up
an average of 1.5 cents per pound.
Meanwhile, some smeltergrade scrap prices also rose, with
some consumers increasing bids
on certain items depending on
availability and demand.
Smelter-grade painted siding,
mixed clips, old sheet and old cast
prices all rose by 1 cent in AMMs

assessment. Aluminum-copper
radiators logged a 2-cent increase,
and mixed low-copper, mixed
high-copper and mixed high-zinc
clips gained a penny on the high
end of the range.
However, the increases were
muted somewhat as other
consumers reported continued
weak demand for material due to
seasonal factors.
We dont have an appetite
for scrap. Scrap prices now have
been the same for two to three
weeks because theres not a lot of
demand. Automotive is slowing
and December will be dead, a
third consumer said.
Markets seem to be running ...
crazy, crazy, a fourth consumer
said. We are still the same.
(Weve) heard some feelings that
scrap will tighten going forward.
Other consumers cited tight
margins amid a lackluster
secondary aluminum alloy
market.
Some secondary aluminum
alloy prices inched higher,
although those for benchmark
A380.1 remained unchanged at
83 to 85 cents per pound. Prices
for 356.1 alloy increased a penny
overall to 90 to 92 cents per
pound, and A360.1 logged a 1-cent
increase on the low end of the
range to 89 to 90 cents per pound.
LME upward movement
has put pressure on (certain

scrap grades). ... We are holding

numbers trying to maintain some
type of spread, a fifth consumer
said, noting a squeeze as some
secondary aluminum alloy prices
remained unchanged. Buying
volumes this (past) week have
been on the slow side due to the
LME increase. (Ingot) sales remain
strong but (we) have seen a small
reduction in demand.
Secondary aluminum alloy
suppliers noted that while there
is upward pressure on some scrap
and ingot prices, die casters
havent yet fully realized any
increases.
The market has gone up and
scrap prices will move up maybe
over the (coming) week, but
buyers are resisting that now and
the volumes in December arent
going to be that high, one alloy
supplier said.
We are seeing hopefully some
upward movement (in secondary
aluminum alloy markets),
though weve heard a lot of talk.
... Suppliers want to be selling at
higher numbers, a second alloy
supplier said.
We have seen high demand
in October and November and
have right-sized our inventories
to a position that we need to move
our finished goods with the scrap
market, a third alloy supplier said.
BRAD MACAULAY
BMACAULAY@AMM.COM

SECONDARY ALUMINUM PRICES

(cents per pound, delivered to Midwest)

Secondary Smelters Scrap*

11/10/2016

11/07/2016

Mixed low-copper clips

56-59

56-58

Mixed high-copper clips

55-58

55-57

Mixed high-zinc clips

51-54

51-53

1-1-3 sows

58-60

58-60

Painted siding

55-57

54-56

Mixed clips

54-56

53-55

Old sheet

53-55

52-54

Old cast

55-57

54-56

Turnings, clean and dry (high grade)

54-56

54-56

Turnings, clean and dry (mixed grade)

49-51

49-51

108-113

106-111

Nonferrous auto shred (twitch)

58-60

58-60

Used beverage cans

67-68

65-67

11/10/2016

11/07/2016

Segregated low-copper alloy clips (5052)

75-78

73-76

Segregated low-copper alloy clips (3105)

69-72

67-70

Mixed low-copper alloy clips

65-68

64-67

Painted siding

63-65

Aluminum-copper radiators

Mills, Specialty Consumers Scrap*

*Buying price

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

62-64
Source: AMM.

AMM PAGE 10

SCRAP
set out under Sims resetting plan
for fiscal 2016, the number of
wholly owned and joint venture
metal recycling facilities in North
America was reduced to 90 from
more than 120, the report notes.
Likewise, the employee base fell to
1,884 from over 2,100.
Since the beginning of our
five-year strategic plan in (fiscal
2014), controllable costs have
been reduced by $234 million per
annum and our volume breakeven point has been lowered,"
Claro wrote. "At the same time, we
have maintained the majority of
our volume capacity, keeping us
well positioned for when market
volumes recover, he added.
MEI LING TOH
MEI.TOH@AMM.COM

the specialty materials producers,

he said.
Palos Heights, Ill.-based
Keywell Metals and its predecessor
companies have been in the
scrap metal business since 1924
and began to focus on stainless
and alloys in the early 1960s. In
addition to the West Mifflin, Pa.,
facility, the company has plants in
Matthews and Monroe, N.C., and
Falconer, N.Y.
JAMES LAWRENCE
JLAWRENCE@AMM.COM

Keywell upgrading
Pennsylvania
turnings operation

NEW YORK Gulf Chemical &

Metallurgical Corp. (GCMC) will
idle its operations after failing
to find a suitable buyer for the
business.
The Freeport, Texas-based
recycler of spent petroleum
refinery catalysts is set to complete
the idling process in the second
quarter of 2017 as financial
pressures hinder its ability to
continue operations, GCMC
said Nov. 10. With no purchaser
identified, GCMCs board of
directors has made the difficult
decision to idle the facility, it
noted.
GCMC has been running
the processing facility while
pursuing a sale of its operations.
The company filed for Chapter
11 bankruptcy protection in U.S.
Bankruptcy Court in western
Pennsylvania, along with Butler,
Pa.-based subsidiary Bear
Metallurgical Co. (amm.com,
June 16).
Although Bear Metallurgical
was purchased by YilMaden
Holding AS, a subsidiary of
Turkish industrial group
Yildirim Holding AS, under
the bankruptcy proceedings in
September (amm.com, Sept. 9),
GCMC failed to attract serious
enough interest during the
process and has not been able to
find a suitor.
GCMC apparently will no
longer accept spent catalysts or
raw materials at the facility, but it
intends to process the remaining
stockpile of material at the site.
GCMC intends to responsibly
recycle all catalyst material that
remains on site and appropriately
manage and idle the facility in a
safe and environmentally sound

PITTSBURGH Keywell Metals

LLC has relocated equipment to
its West Mifflin, Pa., facility to
re-engage its turnings crushing
and blending operation.
We are evaluating all
opportunities for growth, Keywell
Metals president Peter Whiting
said. One operation that has
historically been a mainstream
product line is the stainless
turnings crushing operation.
With the equipment relocation,
the company has expanded its
warehouse, adding 45,000 square
feet to house the crushers and
include an area for the blending
process. The inside warehouse
allows us to keep the turnings dry
for added quality, Whiting said.
The production of the stainless
and alloy turnings is a very
exacting science and is a cost saver
for the consumer, according to
Whiting. What is particularly
important is that the consumers
melting this product can use this
material in the EAF (electric-arc
furnace) and the AOD (argon
oxygen decarburization) vessel,
he explained.
The stainless steel industry
is going through one of its most
difficult economic times, with
current demand at very low levels.
This has been a difficult year,
but we feel that 2017 could be the
turning point and we want to be
certain that we are prepared to
supply the raw materials ... that
provide quality and cost savings to
NOVEMBER 14, 2016

Gulf to idle ops;

supply concerns
gather steam

condition, the company said.

GCMC indicated that it will
continue to offer its typical metal
productsincluding molybdic
oxide, vanadium pentoxide,
ferrovanadium and nickel cobalt
alloys, among othersuntil it
completes the idling process in the
second quarter of next year.
Market participants said
the idling of the GCMC facility
might exacerbate existing
supply concerns within the U.S.
ferrovanadium market, with spot
prices soaring recently amid tight
supply and higher replacement
costs (amm.com, Oct. 28).
Ferrovanadium spot prices have
gained further ground, moving to
$10.50 to $11.50 per pound Nov. 10
from $10.15 to $11 per pound Nov. 3,
according to AMMs assessment.
(Gulfs idling) potentially
removes 2.5 million pounds of
vanadium from the U.S. market.
... I believe that they had been
operating at slightly below that
level, but it is still a significant
reduction in available units for
North America, a supplier source
told AMM.
Ferrovanadium is going to
continue to become tighter over
the coming months, and mills
might have difficulty securing
their required contract volumes in
2017, the source added.
A second supplier source
expressed similar concern
regarding the vanadium supply
chain within the U.S. market,
noting that the GCMC idling would
limit oxide supply options for Bear

Metallurgical. (Without GCMC),

they dont have a supply of oxide
that we can see. ... Traders bringing
in oxide are finding shortages,
so (Bear Metallurgical may) be
running light in 2017, he said.
All of us at (Bear Metallurgical)
feel it is unfortunate that Gulf
will be idling. However, we are
optimistic about the future, Bear
Metallurgical general manager
David Carey told AMM.
CHRIS KAVANAGH
CHRISTOPHER.KAVANAGH@AMM.COM

US EXPORTS OF FERROUS SCRAP BY GRADE

(in tonnes)

Year to date
Alloys
Borings
Cast iron
No. 1 bundles
No. 2 bundles

Sept.

Aug.

July

2016

2015

%
change

108,153

65,465

42,711

544,087

448,646

+21.3

650

624

364

4,649

6,002

22.5

15,940

14,430

12,486

96,926

129,901

25.4

4,126

3,961

3,141

80,998

226,910

64.3

731

6,107

6,208

1.6

No. 1 heavy

310,953

359,933

296,453

2,667,140

2,804,833

4.9

No. 2 heavy

52,388

43,476

42,768

399,710

495,063

19.3

Plate/structural

30,833

65,805

26,028

394,782

657,255

39.9

Shavings

4,771

6,452

16,946

76,704

137,615

44.3

Shredded

332,489

496,870

233,108

2,994,092

3,076,211

2.7

Stainless

38,352

65,336

56,847

523,104

389,090

+34.4

4,499

5,429

4,267

37,540

58,670

36.0

Tinned
Unspecified
Total

188,026

167,398

114,922

1,240,102

1,531,644

19.0

1,091,180

1,295,179

850,772

9,065,941

9,968,048

9.0

Source: Compiled by AMM from data released by the U.S. Commerce Department.

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 11

SCRAP

ISA narrows
loss on modest
sales gain
PITTSBURGH Industrial
Services of America Inc. (ISA)
was able to substantially narrow
its loss on a modest increase in
revenue during the third quarter.
The Louisville, Ky.-based
metal recycler posted a net loss
of $938,000 for the three months
ended Sept. 30, down 21 percent
from a $1.2-million loss in the
same period last year, on sales
that rose 3.2 percent to $9.9
million.
An increase in ferrous scrap
shipments was partially offset

comment further, but industry

observers suggest that plans
could include a sale of the
company or taking on a strategic
partner or partners.
LISA GORDON
LGORDON@AMM.COM

INDUSTRIAL SERVICES
OF AMERICA INC.
(in thousands)

2016
3rd qtr. ended Sept. 30
Net sales
$9,896
Net income (loss)
(938)
9 months ended Sept. 30
Net sales
$26,015
Net income (loss)
(2,990)

2015
$9,591
(1,187)
$39,629
(5,488)

by lower selling prices and fewer

nonferrous scrap shipments in
the quarter.
Nonferrous shipments
decreased by 700,000 pounds,
or 8.1 percent, while nonferrous
average selling prices fell by 5
cents per pound, or 5.6 percent,
year on year during the quarter.
Ferrous shipments increased
by 4,800 gross tons, or 31 percent,
but ferrous average selling prices
fell by $21 per ton, or 10 percent,
from the year-earlier period.
The company, like other
recyclers throughout the
country, recognized that
continued challenges in the
metal recycling industry remain
an underlying theme, keeping
margins and volumes under
pressure.
The ISA team was able to
improve financial performance
in the third quarter. The entire
team is highly motivated and
excited about the future for
ISA, president of chief financial
officer Todd Phillips said in a
statement.
ISAs board of directors
is evaluating strategic
alternatives as it continues
to focus on efficiencies
and productivity in its core
business, the company said.
The company declined to
NOVEMBER 14, 2016

WEEKLY SCRAP COMPOSITE PRICES

Averages calculated each Friday, based
on data effective from the previous Friday
to Thursday. Prices are in US$/gross ton.
SHREDDED SCRAP
calculation date

11/11/16

Prior Wk

Year Ago

Alabama

$208.00

$190.00

$178.00

Chicago

216.00

198.00

180.00

AMM WEEKLY NO. 1 HEAVY MELT PRICE COMPOSITE

Philadelphia

213.80

185.00

160.00

(price per gross ton)

Pittsburgh

234.20

207.00

180.00

Composite

$218.00

$195.00

$174.50

11/11/16

Prior Wk

Year Ago

$223.00

$205.00

$190.00
190.00

UPDATED: NOVEMBER 11, 2016

425

2016

395

2015

2014

NO. 1 BUSHELING
calculation date

365
335

Chicago

305

Cleveland

234.00

210.00

275

Pittsburgh

230.00

202.00

182.00

245

Composite

$229.00

$205.67

$187.33

11/11/16

Prior Wk

Year Ago

$195.00

$180.00

$160.00

Philadelphia

185.00

161.00

145.00

Pittsburgh

217.60

188.00

152.00

Composite

$199.20

$176.33

$152.33

215

NO. 1 HEAVY MELT

$199.20

calculation date

185
155

Chicago

125
Jan. Feb.

Mar.

Apr.

May

Jun. Jul.

Aug.

BASED ON NO. 1 HEAVY MELTING STEEL AT PITTSBURGH, CHICAGO AND PHILADELPHIA.

Sep.

Oct.

Nov.

Dec.

SOURCE: AMM.

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 12

CALENDAR OF EVENTS
Dec. 21-23

NOVEMBER

Metal Bulletin: 20th Middle East Iron and Steel

Conference; Atlantis, The Palm, Dubai, United Arab
Emirates; www.metalbulletin.com/events

Nov. 15-17

Metal Bulletin: 12 Asia Copper Conference; Grand

Hyatt Shanghai, Shanghai, China;
www.metalbulletin.com/events

Nov. 15-17

American Copper Council: Fall Meeting; Naples

Grande Beach Resort, Naples, FL;
www.americancopper.org

Feb. 1-3

Nov. 16-18

Fabricators and Manufacturers Association, Precision

Metalforming Association and Society of
Manufacturing Engineers: Fabtech 2016; Las Vegas
Convention Center, Las Vegas, Nevada;
www.fabtechexpo.com

American Metal Market: 22nd Mexican Steel Forum;

InterContinental Presidente Cancun, Cancun, Mexico;
www.amm.com/events

Feb. 12-15

American Architectural Manufacturers Association:

80th Annual Conference; JW Marriott Desert Ridge
Resort, Phoenix, AZ; www.aamanet.org

Feb. 20-22

Nov. 17-18

American Metal Market: 10th Steel Conference; Hilton

Rosemont Chicago OHare, Chicago;
www.amm.com/events

American Wire Producers Association: Annual

Meeting; The Meritage Resort and Spa, Napa, CA;
www.awpa.org

Feb. 23-24

Nov. 17-18

American Metal Market: 4th DRI and Mini-mills

Conference; Hilton Rosemont Chicago OHare,
Chicago; www.amm.com/events

Committee on Pipe and Tube Imports: Winter

Meeting; Westin Kierland Resort, Phoenix, AZ

Nov. 17-19

Association of Steel Distributors: Fall Conference;

Encore at Wynn Las Vegas, Las Vegas, Nevada;
www.steeldistributors.org

Nov. 21-23

Metal Bulletin: 24th International Recycled

Aluminum; Grand Hotel River Park, Bratislava,
Slovakia; www.metalbulletin.com/events

Nov. 29-Dec. 1

The Aluminum Association: Aluminum 2016; Messe

Dusseldorf, Germany; www.aluminum.org

DECEMBER
Dec. 5

Society for Mining, Metallurgy & Exploration: Arizona

Conference 2016; JW Marriot Starr Pass Resort,
Tucson, AZ; www.smenet.org

FEBRUARY

MARCH
Mar. 8-9

American Metal Market: 10th Steel Tube and Pipe

Conference; Doubletree Houston Greenway Plaza,
Houston, TX; www.amm.com/events

APRIL
Apr. 29-30

American Coke and Coal Chemicals Institute: Annual

Meeting; The Resort at Longboat Key Club, Longboat
Key, FL; www.accci.org

MAY
May 16-17

Committee on Pipe and Tube Imports: Annual

Meeting; Grand Hyatt Washington, Washington, DC

For inclusion in the Calendar of Events, please email details to rkaranth@amm.com

CLASSIFIED MARKETPLACE
notice

NOVEMBER 14, 2016

notice

help wanted

help wanted

notice

notice

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 13

AMM STEEL PRICES

PRICES EFFECTIVE FRIDAY, NOVEMBER 11, 2016

NOTICE
AMM proposes discontinuing its price for imported
hot-dipped galvanized steel 0.019 inch thick with a G60
coating effective Nov. 16. If you have questions on these
proposed changes, please e-mail tschier@amm.com.

STAINLESS STEELS
Market prices, f.o.b. mill, by grade, not including extra
charges for size, finish, temper, packaging, shipping
and other specifications.
COILED PLATE
Plate produced on a continuous mill.
Grade

US$/cwt

304

90.50

304L

92.50

316

122.50

316L

122.50
BAR

Smooth-turned round bar, 1" diameter, mostly in

10,000-lb quantities.
Grade

US$/cwt

303

123.00

304

119.00

316

164.00

416

101.50

17Cr4Ni

191.00
COLD-ROLLED SHEET

Grade

US$/cwt

304

107.00

304L

109.00

316L

141.00

NA--Not available

To become a price contributor see

Metal Exchanges page.

SHEET AND COIL

Port of Houston prices, c.f.r. port, in US$/short ton.

Midwest market prices per hundredweight, f.o.b. mill.

Reinforcing bar*

$386-$395

Hot-rolled

$25.00

Wire rod (low carbon)

$404-$417

Cold-rolled (Class I)

$36.00

Merchant bar

$530-$550

Hot-dipped galvanized (base price)

$36.50

Beams

$480-$520

Hot-dipped galvanized*

$40.50

Reinforcing bar, Grade 60, No. 5

Hot-rolled coil

$440-$460

Plate

$465-$480

Galvalume

$37.50

2 x 2 x 1/4" angle

$30.05

Cold-rolled coil
Hot-dipped
galvanized,0.012-0.015", G30
Hot-dipped galvanized,0.019", G60

$580-$620

Electrogalvanized

$42.50

Aluminized (Type 1)

$41.50

3 x 3 x 1/4" angle

$30.50

Motor lamination

$39.00

$660-$700

* The price for hot-dip galvanized sheet represents

a base price plus a G90 coating on material 0.040
inch (1 millimeter) thick.

PLATE

Prices in US$/tonne. China, Turkey and India prices

are f.o.b. main port. CIS prices are f.o.b. Black Sea.
China export cold-rolled coil
$535-$545
(rev. 11/11/16)
China export galvanized coil
$605-$615
(rev. 11/11/16)
China export wire rod
$410-$415
(rev. 11/11/16)
Turkey export rebar
$430-$450
(rev. 11/10/16)
Turkey export wire rod
$450-$460
(rev. 11/10/16)
CIS export hot-rolled coil
$425-$435
(rev. 11/07/16)
CIS export cold-rolled coil
$490-$500
(rev. 11/07/16)
India export galvanized coil
$730-$740
(rev. 11/11/16)

Market prices per hundredweight, f.o.b. mill.

OIL COUNTRY TUBULAR GOODS

Average monthly market prices per ton from distributors
surveyed in the Houston area by Pipe Logix, Inc.
Oct
$/ton
$998
$1,183
$1,208
$1,450

TUBING
Carbon - annealed ERW
Carbon - seamless
N80 - ERW
N80 - seamless
CASING
Carbon - annealed ERW
Carbon - seamless
N80 - ERW
N80 - seamless

$791
$1,012
$1,008
$1,142

Cold-Rolled Coil

CARBON GRADE PLATE

Cut-to-length

$24.00

Coiled

$22.75
STRIP MILL PLATE

48-inches

$25.00

60-inches

$25.50

72-inches

$25.75
ALLOY PLATE

8 x 11.5 channels

$29.75

1/2 x 4" flat

$30.25
COLD-FINISHED
$44.50

1" round, 12L14 (carbon)

$53.00

1" round, 4140 (alloy)

$64.00

(special bar quality)

1" round, 1000 series (carbon)

$30.00

1" round, 4100 series (alloy)

$36.00

ROD
Market prices per hundredweight, f.o.b. mill.
Mesh quality low carbon

$21.00-$22.00

Industrial quality low carbon

$22.00-$23.00

PIPE AND TUBE

High carbon

$24.00-$25.50

Market prices in US$/short ton.

Domestic

Cold-heading quality

National mills

$40.50

$28.00

OCTG J55 casing

$820

Line pipe X52

$840

Standard pipe A53 Grade B

$820

Market prices per hundredweight, f.o.b. mill.

OCTG seamless casing P110

$995

W8 x 8

OCTG J55 casing

$690

STRUCTURAL TUBING

Line pipe X52

$600

Standard pipe A53 Grade B

$590

OCTG seamless casing P110

$860

Import

BEAMS
$32.50

Market prices in $/short ton

ASTM A500 Grade B

$800.00-$840.00

400
300

475

200

$546
$462

Apr. 25

CHINA: HOT-ROLLED BAND AND COLD-ROLLED COIL

Cold-Rolled Coil Hot-Rolled Band

Oct. 24

WORLD EXPORT MARKET: HOT-ROLLED BAND

$464

500

600

100

$331
$361
$253

Oct. 26

Apr. 25

Oct. 24

CHINA: REBAR

450

450

400

400

350
$417

350

300
250

300
250

$24.00-$25.00

HOT-ROLLED

600

$592

500

(base prices)

National mills

700

Hot-Rolled Band
$757

Oct. 26

MERCHANT PRODUCTS

(dollars per tonne)

850

350

Market prices per hundredweight, f.o.b. mill.

1" round, 1018 (carbon)

WORLD EXPORT PRICES

UNITED STATES: HOT-ROLLED BAND AND COLD-ROLLED COIL

975

725

$670-$700

*The price for import rebar represents a price paid by a

trader to a foreign mill. It does not represent a delivered
duty paid price from the port to a domestic buyer.

STEELBENCHMARKER PRICING 2015-2016

1,100

BARS

IMPORT PRICES

$294

200 Oct. 26

200
Apr. 25

Oct. 24

$323
$261

150 Oct. 26

STEELBENCHMARKER IS A JOINT VENTURE OF WORLD STEEL DYNAMICS INC. AND AMM/METAL BULLETIN THAT WAS OFFICIALLY LAUNCHED IN APRIL
2006. PRICES ARE PUBLISHED TWICE MONTHLY. STEELBENCHMARKER IS DESIGNED TO PROVIDE A RELIABLE SET OF BENCHMARK PRICES FOR USE
BY PARTICIPANTS IN THE STEEL INDUSTRY AND OTHERS WITHOUT REQUIRING DISCLOSURE OF ACTUAL TRANSACTION PRICES.

Apr. 25

Oct. 24

NOTE: PRICES FOR THE UNITED STATES ARE F.O.B. MILL, EAST OF MISSISSIPPI; CHINA IS EX-WORKS; AND WORLD
EXPORT MARKET IS F.O.B. PORT OF EXPORT. SOURCE: WORLD STEEL DYNAMICS INC., ENGLEWOOD CLIFFS, N.J.

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 14, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 14

AMM NONFERROUS SCRAP PRICES

PRICES EFFECTIVE FRIDAY, NOVEMBER 11, 2016

COPPER

No. 1 heavy copper and wire

NO. 2 HEAVY COPPER AND WIRE
Light copper
RED BRASS SOLIDS
Red brass turnings, borings
Cocks and faucets
Brass pipe
YELLOW BRASS SOLIDS
Mixed yellow brass turnings, borings
Yellow brass rod ends
Yellow brass rod turnings
70-30 brass clips
AUTO RADIATORS (UNSWEATED)
High-grade bronze gears
High-grade low lead bronze
Manganese bronze solids
Miscellaneous nickel-"silver" solids
Manganese bronze turnings

ALUMINUM

Boston

Buffalo

Chicago Cincinnati Cleveland

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

165-175
152-162
142-152
149-159
114-124
......
117-127
98-108
77-87
117-127
107-117
123-133
112-122
151-161
......
126-136
126-136
71-81

181-191
164-174
144-154
156-166
101-111
114-124
119-129
112-122
74-84
119-129
109-119
120-130
129-139
153-163
......
123-133
128-138
78-88

176-191
167-182
147-162
157-167
132-142
120-130
125-135
113-123
85-95
115-125
110-120
121-131
120-130
144-154
139-149
119-129
124-134
84-94

181-191
167-182
147-157
156-166
116-126
109-119
129-139
107-117
84-94
119-129
114-124
120-130
116-126
143-153
133-143
128-138
133-143
88-98

171-186
162-177
147-162
152-162
132-142
115-125
135-145
106-116
85-95
115-125
115-125
136-146
115-125
139-149
149-154
124-134
119-129
79-89

177-187
163-173
146-156
141-146
111-121
117-127
127-137
113-123
94-104
130-140
122-132
143-153
115-125
156-166
151-161
131-141
141-151
86-96

194-204
181-191
155-165
173-183
134-144
122-132
147-157
140-150
102-112
130-140
137-147
143-153
147-157
161-171
151-161
141-151
136-146
86-96

164-179
150-165
140-155
148-158
129-139
112-122
127-137
110-120
72-82
122-132
122-132
123-133
115-125
151-161
......
121-131
131-141
71-81

178-188
164-179
144-159
142-152
132-142
115-125
125-135
118-128
65-75
120-130
120-130
126-136
123-133
149-159
......
119-129
129-139
69-79

181-196
167-182
142-157
157-167
127-137
115-125
120-130
113-123
85-95
120-130
120-130
126-136
120-130
144-154
134-144
129-139
134-144
89-99

176-191
162-172
139-149
170-180
128-138
123-133
143-153
129-139
106-116
136-146
126-136
132-142
133-143
152-162
152-162
137-147
132-142
82-92

193-203
179-189
162-172
164-174
152-162
140-150
140-150
128-138
100-110
143-153
128-138
159-169
135-145
......
144-154
139-149
139-149
77-87

236-246
218-228
198-208
166-176
116-126
161-171
161-171
149-159
101-111
169-179
161-171
162-172
136-146
167-177
157-167
160-170
160-170
105-115

224-239
215-225
186-201
167-177
117-127
152-162
......
148-158
97-102
......
......
......
120-130
163-173
......
156-166
......
101-111

Atlanta

Boston

Buffalo

Chicago Cincinnati Cleveland

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

45-50
43-48
40-42

43-46
39-41
40-41

47-50
45-47
45-47

45-47
41-42
39-43

43-46
41-43
39-44

36-38
32-35
33-36

53-57
47-50
49-53

38-41
35-38
35-38

39-41
37-42
34-39

43-46
40-43
41-44

46-47
44-45
44-45

53-54
52-53
51-53

56-58
54-56
53-54

54-56
51-53
49-51

181-196
167-182
152-167
151-161
126-136
109-119
129-139
117-127
84-94
124-134
124-134
125-135
131-141
143-153
133-143
138-148
118-128
83-93

40-45
39-41
39-42

40-43
37-40
38-40

23-28

23-26

19-24

23-28

21-26

20-25

25-30

16-21

29-34

19-24

17-22

23-28

23-25

32-37

28-32

26-30

39-44
44-47
39-42
51-53
38-41
25-28
40-44
39-44
55-60

38-40
34-36
38-39
53-54
35-37
......
......
37-39
51-54

41-42
37-38
37-38
53-54
39-41
......
40-41
43-44
......

42-47
40-45
41-46
51-56
39-44
36-41
30-34
37-42
48-53

40-45
39-44
......
......
......
......
......
......
......

38-41
37-39
39-44
49-54
35-40
25-30
33-38
37-42
......

39-44
35-40
43-48
51-56
43-48
31-36
36-41
38-43
48-53

37-38
42-47
36-37
46-50
33-34
20-23
32-34
34-37
48-52

49-52
47-49
......
......
57-60
32-37
......
47-50
56-61

34-37
44-46
40-43
......
......
......
35-38
......
......

36-39
41-44
37-41
46-51
35-38
23-26
......
31-35
......

42-47
40-45
......
......
......
......
......
......
......

41-43
39-42
......
......
48-51
18-21
......
38-40
50-55

45-47
49-51
......
59-64
47-51
......
......
47-50
60-63

47-49
40-42
49-51
66-68
50-52
33-35
38-40
50-52
......

47-49
40-42
47-49
65-67
48-50
31-33
40-42
48-50
......

Atlanta
37-42
35-38
......
27-31

Boston
45-48
......
......
25-27

Buffalo
44-49
45-47
21-23
32-36

Chicago Cincinnati Cleveland

43-48
......
42-47
41-43
......
43-47
......
......
20-25
20-24
......
25-29

Detroit
39-43
40-44
......
25-29

Houston
39-44
40-44
......
28-32

L.A.
......
......
......
......

N.Y.
39-44
......
17-19
20-24

Philly
41-46
......
......
26-29

Pburgh
......
......
20-22
22-26

S.F.
35-40
36-40
16-20
19-23

St. Louis
46-50
45-49
......
......

Montreal
51-56
48-49
29-30
35-39

Toronto
43-48
......
......
......

Atlanta

Boston

Buffalo

Chicago Cincinnati Cleveland

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

35-40
29-34
29-34
......

30-32
31-33
31-33
35-40

35-40
34-39
31-33
31-36

37-42
30-35
30-35
38-43

35-39
36-38
34-36
32-36

38-43
39-44
34-39
......

34-39
33-38
33-38
......

......
......
......
......

......
......
......
......

37-42
35-40
34-39
......

41-46
38-43
38-43
41-47

34-39
33-38
30-35
39-45

......
34-39
......
......

(rev. 11/01/16)

HEAVY SOFT LEAD

Mixed hard lead
Undrained,whole old batteries
WHEEL WEIGHTS

ZINC

Atlanta
182-192
169-179
149-164
151-161
136-146
104-114
114-124
120-130
69-79
119-129
114-124
120-130
124-134
133-143
123-133
113-123
118-128
73-83

(rev. 11/01/16)

Segregated low copper clips

Mixed low copper clips
Mixed clips
Aluminum borings, turnings, clean
and dry
Old aluminum, sheet and cast
Used beverage cans, clean and dry
Industrial castings
63S aluminum solids
75S aluminum clips
75S borings, turnings, as is
Aluminum utensils
Painted aluminum siding
Litho sheets

LEAD

ESTIMATED DEALER BUYING PRICES, IN /LB. DELIVERED TO YARD. MONTREAL AND TORONTO PRICES ARE IN CANADIAN CURRENCY

(rev. 11/01/16)

(rev. 11/01/16)

New zinc die cast

OLD ZINC DIE CAST
Old zinc scrap
Zinc die cast automotive grilles

NICKEL

37-41
30-35
30-35
38-43

......
......
......
......

......
......
......
......

(rev. 11/01/16)

New nickel clips and solids

Nickel turnings
New nickel-copper alloy
(e.g., Monel) clips and solids
Nickel-copper alloy (e.g., Monel)
turnings and shavings
Nickel-copper alloy
(e.g., Monel) castings
Nickel-chrome-iron alloy
(e.g., Inconel) solids

Atlanta

Boston

Buffalo

Detroit

Houston

L.A.

N.Y.

Philly

Pburgh

S.F.

St. Louis

Montreal

Toronto

360-410
300-350

335-385
275-325

335-385
275-325

Chicago Cincinnati Cleveland

360-410
300-350

360-410
300-350

360-410
300-350

360-410
300-350

360-410
300-350

335-385
......

360-410
......

360-410
......

360-410
300-350

335-385
......

335-385
......

335-385
275-325

335-385
......

195-235

165-205

165-205

195-235

195-235

195-235

195-235

195-235

165-205

195-235

195-235

195-235

165-205

165-205

......

......

185-230

155-200

155-200

185-230

185-230

185-230

185-230

185-230

155-200

185-230

185-230

185-230

155-200

......

......

......

205-245

185-225

185-225

205-245

205-245

205-245

205-245

205-245

185-225

......

205-245

205-245

......

185-225

......

......

260-285

230-255

230-255

260-285

260-285

260-285

260-285

260-285

230-255

260-285

260-285

260-285

230-255

230-255

230-255

230-255

Monel and Inconel are registered trademarks of Huntington Alloys Corp.

SCRAP

Scrap Prices Today

Estimated buying prices

(carload lots, delivered buyers' works)
In /lb except as otherwise noted.
BRASS MILL SCRAP
No. 1 copper
247.00*
REFINERS' COPPER SCRAP
No. 1 copper
241.00*
No. 2 copper
223.00*
BRASS INGOT MAKERS' SCRAP
(rev. 11/11/16)
Copper
No. 1 bare bright
245.00-248.00*
No. 1
240.00-243.00*
No. 2
221.00-223.00*
Light copper
215.00-218.00*
No. 1 comp. solids (rev. 11/09/16)

174.00-178.00

Comp., borings, turnings

(rev. 11/09/16)
Radiators (rev. 11/09/16)
Yellow brass solids (rev. 11/09/16)

153.00-155.00
141.00-143.00

* Nominal for spot sales.

171.00-174.00

SMELTERS' LEAD SCRAP

Buying prices heavy soft lead (cwt), including delivery
to smelter
(rev. 11/01/16)
Scrap lead
$74.00-$77.00
Remelt lead
$77.00-$79.00
Whole batteries
$33.00-$35.00
Cable lead
$80.00-$82.00
SMELTERS' ZINC SCRAP
(rev. 11/01/16)
New zinc clippings
70.00-73.00
Old zinc (clean)
54.00-57.00
Galvanizers' dross
61.00-64.00
SECONDARY SMELTERS'
ALUMINUM SCRAP
Buying prices delivered to Midwest smelters in full
truckloads containing several grades
(rev. 11/10/16)
Mixed low copper clips
56.00-59.00
Mixed high copper clips
55.00-58.00
Mixed high zinc clips
51.00-54.00
1-1-3 sows
58.00-60.00
Siding, painted
55.00-57.00
Mixed clips
54.00-56.00
Old sheet
53.00-55.00
Old cast
55.00-57.00

Turnings, clean and dry

High grade
54.00-56.00
Mixed grade (max. 5% Zn)
49.00-51.00
Aluminum-copper radiators
108.00-113.00
Nonferrous auto shred (90%
58.00-60.00
alum.) *
* Unmixed full truckload, "twitch" grade
DOMESTIC ALUMINUM PRODUCERS
Buying prices for processed used aluminum cans in
carload lots, f.o.b. shipping point
(rev. 11/10/16)
Used beverage can scrap
67.00-68.00
MILLS, SPECIALTY CONSUMERS' BUYING PRICES
(rev. 11/10/16)
Segregated low copper alloy clips
5052
75.00-78.00
3105
69.00-72.00
Mixed low copper alloy clips
65.00-68.00
Painted siding
63.00-65.00

Nonferrous scrap price changes were made for

these cities: None

American
Metal
Market
Click here for
pricing online

To become a price contributor see

Metal Exchanges page.

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 14, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 15

AMM SCRAP IRON AND STEEL PRICES

PRICES EFFECTIVE FRIDAY, NOVEMBER 11, 2016

NOTICE

NOTICE

AMM proposes discontinuing its consumer price assessment

in Youngstown, which has merged into the Cleveland buying
price, effective March 1, 2017. If you have any questions or
comments, please contact lgordon@amm.com.

AMM proposes listing consumer buying prices for

ferrous scrap in Mexicos Bajio region every Wednesday
beginning Dec. 7, 2016. If you have any questions about
this proposed change, please e-mail tschier@amm.com.

Scrap Prices Today

Ferrous scrap price changes were made for these cities: None

CONSUMER BUYING PRICES

Estimated domestic consumer buying prices in US$/gross ton; delivered mill price. (a) Appraisal price NA--Not available 

Canadian currency; in net tons

Alabama

Chicago

Cincinnati

Cleveland

11/08/16

11/08/16

11/08/16

11/07/16

11/07/16

11/07/16

11/08/16

11/07/16

11/07/16

11/08/16

11/08/16

11/08/16

......

195

205

205

210

203

206

203

191

225

203

203(a)

172

207.00

No. 2 heavy melt

185

......

190

......

......

......

......

......

......

......

......

......

......

No. 1 bundles

207

225

240

230

242

216

......

220

222

......

......

253

......

No. 2 bundles *

......

155

160

......

......

......

......

121

102

......

82(a)

......

......

No. 1 busheling

225

235

235

230

240

221

223

220(a)

237

223

240(a)

239

237.33

No. 1 industrial bundles

......

......

......

......

......

......

......

......

242

......

......

......

......

Shredded auto scrap

220

228

228

235

240

220

225

221

241

225

240(a)

193

227.50

80

130

155

125

83

138

100

155

105

100

......

......

......

Cast iron borings

......

......

132(a)

......

......

......

......

......

95

......

......

......

......

Cut structural/plate, 2' max

......

......

314(a)

......

......

......

......

290(a)

......

......

......

......

......

Cut structural/plate, 3' max.

230

......

......

......

......

......

......

225

257

......

......

......

......

Cut structural/plate, 5' max.

205

230

228

220

225

220

215

201

246

215

225(a)

191

......

Foundry steel, 2' max.

......

......

219

......

177

235

......

265(a)

180

......

185(a)

......

......

DATE REVIEWED:
NO. 1 HEAVY MELT

MACHINE SHOP TURNINGS

Cupola cast
CLEAN AUTO CAST

N. Carolina/
Detroit
Virginia Philadelphia

Ark/Tenn
Border

Pittsburgh

South
Carolina Youngstown

Hamilton,
Ontario Composites

......

......

259

......

100

285(a)

......

180(a)

213

......

......

......

......

......

......

294

......

255

315(a)

......

218(a)

262

......

......

......

......

Unstripped motor blocks

......

......

214

......

285

......

......

180(a)

335

......

......

......

......

Heavy breakable cast

......

......

204

......

85

......

......

123(a)

173

......

......

......

......

Drop broken machinery cast

......

......

274

......

213

......

......

228(a)

......

......

......

......

......

Rail crops, 2' max.

......

......

244(a)

......

348

......

......

230(a)

325

......

......

......

......

Random rails

......

......

214(a)

......

......

......

......

170(a)

245

......

......

......

......

Steel car wheels

......

......

235

......

260

......

......

......

......

......

......

......

......

Rerolling rails

......

......

252(a)

......

......

......

......

......

......

......

......

......

......

......

......

205

......

200

200

......

......

165

......

......

......

......

STEEL (TIN) CAN BUNDLES

* Shredders may also be considered consumers for this grade

AMM INDEXES

DEALER SELLING PRICES

Ferrous Scrap Export Index ($/tonne, evaluated 11/09/16)

Estimated prices in US$/gross ton, shipping point dealer yard

Atlanta

Buffalo

Houston

11/07/16

11/07/16

11/07/16

Canadian currency; in net tons

St. Louis
Montreal

HMS 1&2 (80:20) East Coast (f.o.b. New York)

252.57

DATE REVIEWED:

HMS 1&2 (80:20) West Coast (f.o.b. Los Angeles)

242.00

No. 1 heavy melt

168

163

144

172

155

Shredded Steel Scrap, East coast (f.o.b New York)

256.33

No. 1 bundles

......

......

......

195

......

Midwest Ferrous Scrap Index ($/gross ton, evaluated 11/10/16)

11/08/16

11/08/16

No. 1 busheling

185

218

167

200

175

208.13

Shredded auto scrap

183

215

160

200

280(a)

No. 1 busheling

229.89

Machine Shop Turnings

Shredded steel scrap

225.86

Cut structural/plate, 5' max.

No. 1 heavy melt

MB Iron Ore Index ($/tonne, evaluated 11/11/16)

MBIO Index

79.81

88

83

67

105

120

178

192

169

180

165

EXPORT YARD BUYING PRICES

CONSUMER BUYING PRICE TREND

Estimated prices an export dealer, broker or processor will pay for items delivered to his yard, in US$/gross ton.
Boston
L.A.
N.Y.
Philly

Estimated trends in US$/gross ton, from prior month

DATE REVIEWED:

11/02/16

11/01/16

11/02/16

11/02/16

10/03/16

No. 1 heavy melt

135

110

160

165

90

90

60

65

130

110

55

......

No. 1 busheling

......

120

......

......

105

......

Machine shop turnings

......

40

95

......

40

30

Mixed cast

125

......

170

165

......

......

Unstripped motor blocks

130

95

175

160

100

65

75

65

130

130

50

75

140

120

165

170

100

100

Houston Seattle/Portland
DATE REVIEWED:

11/07/16

11/07/16

No. 1 heavy melt

30

30(a)

No. 1 busheling

30

......

Shredded auto scrap

30

30(a)

Machine shop turnings

20

30(a)

Cut structural/plate, 5' max

30

30(a)

No. 2 bundles

Auto bodies
To become a price contributor see Metal Exchanges page.

Cut structural/plate 5' max.

S.F. Seattle/Portland
10/03/16

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 14, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 16

AMM STAINLESS STEEL SCRAP PRICES

PRICES EFFECTIVE FRIDAY, NOVEMBER 11, 2016

DEALER BUYING PRICES

Boston

Buffalo

Chicago

Cleveland

Detroit

Houston

L.A.

N.Y.

Pburgh

S.F.

Southeast

Montreal

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

33-34

37-38

47-50

40-42

38-53

42-54

35-40

47-48

42-45

35-46

34-35

72-81

304 solids, clips

27-28

33-34

31-35

28-30

30-38

30-38

25-30

31-32

32-35

25-30

20-35

52-62

304 turnings

21-22

16-17

25-28

20-25

20-32

27-35

15-20

21-22

25-30

15-20

15-30

47-54

304 new clips (prompt industrial scrap)

......

33-34

31-35

28-30

30-38

......

25-30

31-32

32-35

25-30

20-35

52-62

430 new clips (prompt industrial scrap)

2-3

......

8-9

4-5

3-7

......

......

4-5

5-6

......

5-9

......

829-851

1,053-1,120

896-941

851-1,187

941-1,210

784-896

1,053-1,075

941-1,008

784-1,030

762-784

1,613-1,814

DATE REVIEWED:

DEALERS' BUYING PRICES (/lb.) Canadian currency

316 solids, clips

DEALERS' BUYING PRICES (US$/gross ton) Canadian currency

316 solids, clips

739-762

304 solids, clips

605-627

739-762

694-784

627-672

672-851

672-851

560-672

694-717

717-784

560-672

448-784

1,165-1,389

304 turnings

470-493

358-381

560-627

448-560

448-717

605-784

336-448

470-493

560-672

336-448

336-672

1,053-1,210

304 new clips (prompt industrial scrap)

......

739-762

694-784

627-672

672-851

......

560-672

694-717

717-784

560-672

448-784

1,165-1,389

430 new clips (prompt industrial scrap)

45-67

......

179-202

90-112

67-157

......

......

90-112

112-134

......

112-202

......

BROKER/PROCESSOR BUYING PRICES

Chicago

Cleveland

Detroit

Houston

N.Y.

Pburgh

Southeast

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

316 solids, clips

62-66

63-64

61-64

62-65

61-64

63-65

63-66

304 solids, clips

46-50

47-48

46-51

47-51

47-48

46-48

47-50

304 turnings

39-43

41-42

40-42

41-46

40-41

38-42

41-44

430 bundles, solids

13-17

......

14-14.5

10-18

......

13-16

10-17

7-12

......

......

......

......

7-13

7-13

10-15

......

12-12.5

7-14

......

12-13

12-14

6-10

......

8-9

......

......

6-10

6-10

316 solids, clips

1,389-1,478

1,411-1,434

1,366-1,434

1,389-1,456

1,366-1,434

1,411-1,456

1,411-1,478

304 solids, clips

1,053-1,120

DATE REVIEWED:
BROKER/PROCESSOR BUYING PRICES (/lb.)

430 turnings
409 bundles, solids
409 turnings
BROKER/PROCESSOR BUYING PRICES (US$/gross ton)

1,030-1,120

1,053-1,075

1,030-1,142

1,053-1,142

1,053-1,075

1,030-1,075

304 turnings

874-963

918-941

896-941

918-1,030

896-918

851-941

918-986

430 bundles, solids

291-381

......

314-325

224-403

......

291-358

224-381

430 turnings

157-269

......

......

......

......

157-291

157-291

409 bundles, solids

224-336

......

269-280

157-314

......

269-291

269-314

409 turnings

134-224

......

179-202

......

......

134-224

134-224

CONSUMER BUYING PRICES

EXPORT YARD BUYING PRICES

Pittsburgh

DATE REVIEWED:

11/10/16

CONSUMER BUYING PRICES (/lb.)

Estimated prices an export dealer, broker or processor will pay for items delivered to his yard, in US$/gross ton.
Boston
L.A.
N.Y.

Philly

S.F.

11/08/16

11/08/16

11/08/16

11/08/16

11/08/16

304 solids, clips

......

36.8-39

49-50

49-50

36.8-39

304 turnings

......

20-21.2

31-32

31-32

20-21.2

11-12

8.3-8.9

10-11

10-11

8.3-8.9

......

824-874

1,098-1,120

1,098-1,120

824-874

......

448-475

694-717

694-717

448-475

246-269

186-199

224-246

224-246

186-199

DATE REVIEWED:
STAINLESS STEEL SCRAP PRICES (/lb.)

316 solids, clips

67-69

304 solids, clips

50-51

304 turnings

42.5-46

430 bundles, solids

19.2-20.3

409 bundles, solids

15.2-16.3

CONSUMER BUYING PRICES (US$/gross ton)

316 solids, clips

1,501-1,546

304 solids, clips

1,120-1,142

304 turnings

952-1,030

430 bundles, solids

430-455

409 bundles, solids

340-365

430 bundles, solids

STAINLESS STEEL SCRAP PRICES (US$/gross ton)
304 solids, clips
304 turnings
430 bundles, solids
(a) Appraisal price

Scrap Prices Today

Stainless steel scrap price changes were made for these cities: None

To become a price contributor see Metal Exchanges page.

Prices are subject to the disclaimer appearing on the Metal Exchanges page.
NOVEMBER 14, 2016

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

AMM PAGE 17

METAL EXCHANGES
PRICES EFFECTIVE FRIDAY, NOVEMBER 11, 2016

LONDON METAL EXCHANGE

NEW YORK FUTURES

Settlement price (*) is the same as the first-session cash asking price. Prices in US$/tonne.
Stocks represent total tonnes in LME warehouses at the end of the preceding day.
11/11/16
Bid

Bid

(in China yuan/tonne)

COMEX COPPER

(prices effective 11/11/16)

(/pound)

11/10/16

Ask

SHANGHAI FUTURES EXCHANGE

Comex, high grade, electrolytic cathode

Ask

ALUMINUM -- HIGH GRADE

Settlement (eff. 11/11/16)

1st session

Spot (Nov)

250.65

Cash

1,776.50

1,777.00*

1,772.00

1,772.50*

Dec

250.90

3 months

1,778.00

1,779.00

1,772.50

1,773.00

Mar

252.00

Stocks

2,105,350

Stocks

2,111,650

May

252.50

ALUMINUM -- ALLOY (380-1, DIN 226, ADC 12)

Opening stocks, short tons

1st session
Cash

1,585.00

1,590.00*

1,560.00

1,570.00*

3 months

1,590.00

1,600.00

1,570.00

1,580.00

Stocks

13,680

Stocks

13,680

ALUMINUM-ALLOY (North American Special)

1st session
Cash

1,715.00

1,725.00*

1,710.00

1,711.00*

3 months

1,725.00

1,735.00

1,720.00

1,725.00

Stocks

79,740

Stocks

79,740

72,534
COMEX GOLD
(US$/troy ounce)

Comex settlement (99.5%, eff. 11/11/16)

Nov

$1,223.50

Dec

$1,224.30

Feb

$1,226.90

Apr

$1,229.60
COMEX SILVER
(/troy ounce)

COBALT

Comex settlement (99.5%, eff. 11/11/16)

1st session
Cash

29,000.00

29,500.00*

28,900.00

29,200.00*

Nov

1,736.40

3 months

29,000.00

29,500.00

28,900.00

29,200.00

Dec

1,738.20

Stocks

590

Stocks

590

Jan

1,741.40

COPPER -- GRADE A

Mar

1,747.80

1st session

PLATINUM AND PALLADIUM

Cash

5,899.50

5,900.00

5,618.00

5,619.00

3 months

5,908.00

5,910.00*

5,634.00

5,635.00*

Stocks

270,850

Stocks

274,950

LEAD
1st session
Cash
3 months

2,150.50
2,163.00
Stocks

2,151.50*
2,163.50
187,500

2,154.00
2,168.00
Stocks

2,155.00*
2,170.00

(US$/troy ounce)
(Nymex settlement prices, eff. 11/11/16)
Platinum (99.95%), Jan

$943.20

Platinum (99.95%), Apr

$946.90

Palladium (99.95%), Dec

$684.70

Palladium (99.95%), Mar

$685.70
NATURAL GAS

187,650

(/mmBtu)

MOLYBDENUM

(Nymex settlement prices, eff. 11/11/16)

1st session
Cash

14,750.00

15,250.00*

14,750.00

15,250.00*

3 months

14,750.00

15,250.00

14,750.00

15,250.00

Stocks

Stocks

Henry Hub, Dec

$261.90
HOT-ROLLED COIL
(US$/short ton)

NICKEL

(Nymex settlement prices, eff. 11/11/16)

1st session
Cash

11,730.00

11,735.00*

11,700.00

11,710.00*

3 months

11,760.00

11,770.00

11,710.00

11,725.00

Stocks

364,410

Stocks

364,410

STEEL BILLET

Nov

$492.00

Dec

$530.00

Jan

$555.00

Feb

$555.00
MIDWEST NO. 1 BUSHELING FERROUS SCRAP

1st session
Cash

300.00

325.00*

300.00

325.00*

3 months

300.00

325.00

300.00

325.00

Stocks

Stocks

TIN
1st session
Cash

21,725.00

21,750.00*

21,900.00

21,905.00*

3 months

21,555.00

21,560.00

21,675.00

21,700.00

Stocks

3,100

Stocks

3,100

ZINC -- SPECIAL HIGH GRADE

1st session
Cash

2,527.50

2,528.50*

2,531.00

2,531.50*

3 months

2,541.00

2,543.00

2,546.00

2,548.00

Stocks

446,650

Stocks

447,450

NOVEMBER 14, 2016

(US$/gross ton)
(Nymex settlement prices, eff. 11/11/16)
Nov

$229.89

Dec

$255.00

Jan

$260.00

Feb

$260.00

TO BECOME A PRICE CONTRIBUTOR

AMM invites you to become a pricing/assessment contributor. Please send your name,
company, contact details and metals/categories of interest to the Editor-in-Chief, Bristol
Voss, at bristol.voss@amm.com. An AMM metals specialist in your category will follow
up by phone or e-mail to establish the details of how and how frequently you would
be willing to provide input. AMM reports on more than 1,200 proprietary steel, scrap,
ferrous and nonferrous categories.

IT IS A VIOLATION OF AMM COPYRIGHT TO PHOTOCOPY/DISTRIBUTE THIS PRODUCT

Aluminum
Copper
Lead
Zinc

15,235
47,000
17,185
20,930

EXCHANGE RATES
Selling prices in US dollars at 11:00 am in NY, based on
Reuters quotes.
$ per
per $
Euro
1.0832
0.9232
Canada (dollar)
0.7400
1.3514
Japan (yen)
0.009374
106.6750
Britain (pound)
1.2599
0.7937
China (yuan)
0.1468
6.8125
Mexico (peso)
0.0480
20.8193
Russia (Ruble)
0.0151
66.0075
Switzerland (franc)
1.0110
0.9892
Australia (dollar)
0.7556
1.3235
South Africa (Rand)
0.0702
14.2450

DISCLAIMER
Important Please Read Carefully
This Disclaimer is in addition to our Terms and
Conditions as available on our website (click here)
and shall not supersede or otherwise affect these
Terms and Conditions.
Prices and other information contained in this
publication have been obtained by us from various
sources believed to be reliable. This information has
not been independently verified by us. Those prices
and price indices that are evaluated or calculated
by us represent an approximate evaluation of
current levels based upon dealings (if any) that
may have been disclosed prior to publication to us.
Such prices are collated through regular contact
with producers, traders, dealers, brokers and
purchasers although not all market segments may
be contacted prior to the evaluation, calculation,
or publication of any specific price or index. Actual
transaction prices will reflect quantities, grades and
qualities, credit terms, and many other parameters.
The prices are in no sense comparable to the quoted
prices of commodities in which a formal futures
market exists.
Evaluations or calculations of prices and
price indices by us are based upon certain market
assumptions and evaluation methodologies, and
may not conform to prices or information available
from third parties. There may be errors or defects
in such assumptions or methodologies that cause
resultant evaluations to be inappropriate for
use. Your use or reliance on any prices or other
information published by us is at your sole risk.
Neither we nor any of our providers of information
make any representations or warranties, express
or implied as to the accuracy, completeness or
reliability of any advice, opinion, statement or
other information forming any part of the published
information or its fitness or suitability for a
particular purpose or use. Neither we, nor any of
our officers, employees or representatives shall
be liable to any person for any losses or damages
incurred, suffered or arising as a result of use
or reliance on the prices or other information
contained in this publication, howsoever arising,
including but not limited to any direct, indirect,
consequential, punitive, incidental, special or
similar damage, losses or expenses.
We are not an investment advisor, a financial
advisor or a securities broker. The information
published has been prepared solely for
informational and educational purposes and is not
intended for trading purposes or to address your
particular requirements. The information provided
is not an offer to buy or sell or a solicitation of
an offer to buy or sell any security, commodity,
financial product, instrument or other investment
or to participate in any particular trading strategy.
Such information is intended to be available for
your general information and is not intended to
be relied upon by users in making (or refraining
from making) any specific investment or other
decisions. Your investment actions should be solely
based upon your own decisions and research and
appropriate independent advice should be obtained
from a suitably qualified independent advisor before
making any such decision.

AMM PAGE 18

AMM MARKET GUIDE

PRICES EFFECTIVE FRIDAY, NOVEMBER 11, 2016

PRECIOUS METALS
(all precious metal prices effective 11/11/16)
GOLD
(US$/troy ounce)
London A.M.

$1,255.65

London P.M.

$1,236.45

Handy and Harman (bullion base)

Handy and Harman (fabricated form)

$1,236.45
$1,372.460

Engelhard (bullion base)

$1,260.79

Engelhard (fabricated form)

$1,355.35

IRIDIUM
(US$/troy ounce)
Johnson Matthey

$675.00
PLATINUM
(US$/troy ounce)

Engelhard (unfab.)

$976.00

Engelhard (fab.)

$1,076.00

Johnson Matthey

$970.00
PALLADIUM
(US$/troy ounce)

Engelhard (unfab.)

$690.00

Engelhard (fab.)

$790.00

Johnson Matthey

$686.00
RUTHENIUM
(US$/troy ounce)

Johnson Matthey

$40.00
RHODIUM
(US$/troy ounce)

Johnson Matthey

$815.00
SILVER
(/troy ounce)

Engelhard (bullion base)

1,858.00

Engelhard (fabricated form)

2,229.60

Handy and Harman (bullion base)

1,771.50

Handy and Harman (fabricated form)

2,214.40

Heraeus Precious Metals

1,773.50

Metalor USA Refining

1,766.00

LBMA

1,859.00

FOOTNOTE

* Price is sourced from U.S. Department of Commerce

data compiled by the U.S. Geological Survey.

BASE METALS

MINOR METALS

ALUMINUM
LME(99.7%) unofficial prices
80.56
Spot(/lb)
3-month (/lb)
80.56
Midwest Premium (rev. 11/09/16)
7.30-7.50
AMM Free Market, /lb
87.30-87.50
6063 extrusion billet upcharge
9.50-10.50
Domestic producer estimated prices ($/lb)
C355.2
1.12
A356.2
1.07
6061 (extrusion hom.)
0.84-0.85
6063 (extrusion hom.)
0.92-0.93
SECONDARY ALUMINUM
AMM Free Market, /lb, delivered Midwest (rev. 11/10/16)
A380.1
82.00-83.00
319.1
86.00-88.00
356.1
90.00-92.00
A360.1
89.00-90.00
A413.1
88.00-90.00
COPPER
Premium (rev. 11/03/16)
5.25-5.75
AMM free market cathode, /lb
225.90-256.40
LEAD
Premium (rev. 11/10/16)
9.00-13.00
AMM free market price, /lb
106.53-110.53
MB battery premium, /tonne
90.00-120.00
NICKEL
Melting material
Premium (rev. 11/02/16)
15.00-20.00
AMM free market price, /lb
546.97-551.97
Plating material
Premium (rev. 11/02/16)
47.74-52.38
AMM free market price, /lb
579.71-584.35
TIN
Grade A premium (US$/tonne)
(rev. 11/10/16)
$550.00-$600.00
AMM free market price
$22,275.00-$22,325.00
US$/tonne
/lb
1,010.39-1,012.66
ZINC
Special high grade premium
(rev. 11/10/16)
6.00-7.00
AMM free market price, /lb
120.63-121.63
SHG average week ending
116.83
11/04/16
ZINC - DIE CASTING ALLOYS
(rev. 11/11/16)
Premium
Price, /lb
Nos. 3 and 7
17.00-19.00 131.63-133.63
No. 5
19.00-21.00 133.63-135.63
No. 2
21.00-23.00 135.63-137.63
Zinc-aluminum foundry alloys
No. 8
20.00-22.00 134.63-136.63
No. 12
22.00-24.00 136.63-138.63
No. 27
27.00-29.00 141.63-143.63

ANTIMONY
(rev. 11/11/16)
MB free market, US$/tonne
$7,300.00-$7,500.00
BISMUTH
(rev. 11/11/16)
MB free market, US$/lb
$4.45-$4.75
CADMIUM
(rev. 11/11/16)
MB free market
min 99.95%, /lb in warehouse
59.00-66.00
min 99.99%, /lb in warehouse
60.00-69.00
CHROMIUM METAL
(rev. 11/11/16)
MB free market, US$/tonne
$7,100.00-$7,500.00
COBALT
(rev. 11/11/16)
MB free market
High grade, US$/lb in warehouse
$13.30-$14.15
Low grade, US$/lb in warehouse
$13.05-$13.65
GERMANIUM
(rev. 11/11/16)
MB free market, US$/kg
$610.00-$710.00
INDIUM
(rev. 11/11/16)
MB free market, US$/kg
$195.00-$240.00
MAGNESIUM
MB Europe free market, US$/tonne
(rev. 11/11/16)
$2,350.00-$2,510.00
AMM free market (US), US$/lb
(rev. 11/01/16)
$1.93-$1.95
MERCURY
(rev. 11/11/16)
MB free market, US$/flask
$940.00-$1,250.00
SELENIUM
(rev. 11/11/16)
MB free market, US$/lb
$8.00-$9.50
SILICON METAL
(rev. 11/09/16)
AMM free market, /lb
90.00-95.00

TITANIUM
Estimated market prices in US$/lb, f.o.b. shipping point.
Sponge, imported for consumption, including tariff
Japan, rotor quality (rev. 11/01/16) *
$4.38
Ingot, 6AI-4V (rev. 11/01/16)
$8.00-$8.25
Plate, alloy, AMS 4911
1/2 inch x 48-in x 120-in
(rev. 11/01/16)
$25.00-$26.00
Bar, alloy, AMS 4928
1-in. dia. round
(rev. 11/01/16)
$19.00-$21.00
Plate, commercially pure,
ASTM-B265 Grade 2,
1/2-in x 96-in x 240-in
(rev. 11/01/16)
$10.75-$11.25
Sheet, commercially pure,
ASTM-B265 Grade 2,
1/8-in x 36-in x 96 in
(rev. 11/01/16)
$13.50-$14.00

FERROALLOYS
FERROCHROME
(rev. 11/10/16)
High carbon
AMM free market, /lb

98.00-105.00

Low carbon
AMM free market, /lb
0.05%C-65% min Cr

206.00-210.00

0.10%C-62% min Cr

177.00-183.00

0.15%C-60% min Cr

174.00-176.00

FERROMANGANESE
(rev. 11/10/16)
High carbon
AMM free market, US$/long ton

$970.00-$1,025.00

Medium carbon
AMM free market, /lb

82.00-84.00

Low carbon
AMM free market, /lb

91.00-94.00

SILICOMANGANESE
(rev. 11/10/16)
AMM free market, /lb

47.00-52.00

FERROSILICON
(rev. 11/10/16)
AMM free market, /lb

71.00-75.00

MOLYBDENUM
(rev. 11/10/16)
AMM free market
Canned molybdic oxide, US$/lb

$6.80-$7.00

FERROMOLYBDENUM
(rev. 11/10/16)
AMM free market, US$/lb

$8.00-$8.50

TUNGSTEN
(rev. 11/11/16)
MB free market, APT, US$/mtu

$198.00-$203.00

VANADIUM PENTOXIDE
(rev. 11/11/16)
MB free market,
min 98% V2O5, US$/lb

$4.65-$4.85

FERROVANADIUM
(rev. 11/10/16)
AMM free market, US$/lb

$10.50-$11.50

To become a price contributor

see Metal Exchanges page

Prices are subject to the disclaimer appearing on the Metal Exchanges page.

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Raju Daswani (646) 274-6257
rdaswani@amm.com
EDITORS
Jo Isenberg-OLoughlin executive editor
(646) 274-6230 jisenberg@amm.com
Thorsten Schier North American steel and
ferrous scrap editor
(646) 274-6240 tschier@amm.com
Tom Jennemann North American nonferrous and
nonferrous scrap editor
(973) 204-3383 tom.jennemann@fastmarkets.com
NEWS TEAM
Lisa Gordon correspondent, scrap
(412) 880-4992 lgordon@amm.com
Michael Cowden correspondent, steel
(773) 643-1244 mcowden@amm.com
Nat Rudarakanchana pricing reporter
(212) 224-3944 nat.rudy@amm.com
Brad MacAulay reporter, nonferrous scrap
(412) 765-2585 brad.macaulay@amm.com
Grace Lavigne pricing reporter
(212) 224-3908 grace.lavigne@amm.com
Kirk Maltais reporter, aluminum
(212) 224-3907 kirk.maltais@amm.com

NOVEMBER 14, 2016

James Lawrence reporter, scrap

(724) 935-6235 james.lawrence@amm.com
Mei Ling Toh reporter
(646) 274-6246 mei.toh@amm.com
Christopher Kavanagh reporter, scrap
(212) 224-3918 christopher.kavanagh@amm.com
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(212) 224-3927 millicent.dent@amm.com
Dom Yanchunas reporter
(212) 224-3954 dom.yanchunas@amm.com
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AMM PAGE 19