At the beginning of 2023, the price of steel scrap was constantly increasing and on February 23, it reached $480 per ton on the London Metal Exchange. Compared to the same period in 2022, the price of scrap metal was on average about 20-30% lower. In March, the price of scrap metal continued to decrease and on March 20 it was $438 per ton. According to the information of the website scraprice.com, it can be concluded that the highest scrap metal prices are in Turkey. That scrap metal is the most expensive in Turkey should not surprise anyone, because it has been like this for a long time. Next, we could mention several European countries, where the prices of scrap metal are also often high: - these are Poland, Lithuania, Bulgaria. Scrap metal prices vary depending on many factors.
First, prices can be affected by international economic factors such as the level of world steel production, the state of the world economy and the impact of trade deals on steel demand. In addition, local market scrap prices are also affected by factors such as the country's economic situation, supply and demand balance, and competition among recycling companies. Another important factor influencing steel scrap prices is processing technology and production costs. For example, new metal recycling technologies that help reduce production costs can increase scrap prices and, at the same time, reduce product sales prices.