So we have another thing to think about, how much steel scrap is China going to generate internally?
Basically, marriage is a market, like steel scrap or copper.
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Critical to the stainless steel industry, nickel is seeing strong demand from China and the U.S. MacMillan notes that this demand is in part due to America's shortage of stainless steel scrap.
After a period of high prices, with few exceptions the cost of scrap has been on the decline for more than a year, and Steel Dynamics has managed to increase the spread between the price of steel scrap and its average selling price per ton.
Blue Star Steel saves money buying scrap steel, and the environment is spared additional greenhouse gas emissions from a foundry.
The company runs minimills, which produce steel from scrap rather than iron ore and manufacture products in smaller batches than traditional plants.
An even lower-cost group of domestic producers are the mini-mill operators, such as Nucor, which make steel from scrap metal instead of iron ore.
Yet mini-mills cannot do it all: there is not enough scrap to satisfy all steel demand, and steel made from scrap is not high enough quality for all uses.
Best of all, the mini-mills have a natural hedge against a downturn in steel prices, because the price of scrap steel, their input, rises and falls with their finished product.
Hyundai Steel was already a major producer of steel beams and such for construction, forming them out of melted scrap steel.
Nucor ( NUE) is the largest U.S. operator of mini-mills, smaller steel facilities that use scrap as their raw material.
Despite fireworks in the art market, art contains no intrinsic value, just canvas on a stretcher or at best bronze or corten steel sculpture with some scrap value.
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In most auto factories, the leftover steel cutouts are stacked up, then sold to a foundry, where they are melted with other bits of steel and converted into scrap metal.
In 1975, at age 25, he left for Indonesia, where he started a scrap-melting steel plant with a local partner.
The conglomerate was already a major producer of structural steel for construction, forming beams out of melted scrap.
Its biggest product, ferrous scrap, is suffering from weak basic steel demand, but as the economy improves Sims' stock will, too.
An Italian group has leased the biggest chrome mine, and a Turkish outfit has started processing scrap metal at an elderly Chinese-built steel plant.
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