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Metal prices are the prices of metal as a commodity that are traded in bulk at a predefined purity or grade. Metal can be split into three major categories, precious metals, industrial metals and other metals. Precious metals and industrial metals are priced by trading of those metals on commodities exchanges. [1]
Some scrap yards' websites have updated scrap prices. In the US, scrap prices are reported in a handful of publications, including American Metal Market, based on confirmed sales as well as reference sites such as Scrap Metal Prices and Auctions. Non-US domiciled publications, such as The Steel Index, also report on the US scrap price, which ...
After producing an average of one million tonnes of scrap in the 1980s, by 2001 the yard produced less than 160,000 tonnes and for ten months had no new vessel arrivals. [ 6 ] In 2001, the Government of Pakistan reduced ship-breaking duties from 15% to 10% and offered further incentives if industry activity improved. [ 5 ]
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British police officers checking for stolen metal at a scrap metal merchant. Metal theft is "the theft of items for the value of their constituent metals". [1] It usually increases when worldwide prices for scrap metal rise, as has happened dramatically due to rapid industrialization in India and China.
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Recycling of one ton of scrap saves 1.1 tons of iron ore, 0.6–0.7 tons of coking coal and around 0.2–0.3 tons of fluxes. Specific energy consumption for production of steel through BF-BOF (primary) and EAF& IF (secondary routes) is 14 MJ/kg and 11.7 MJ/kg, respectively. Thus, it leads to savings in energy by 16–17%.
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