Our MarketFerrous MetalsIn 2007, approximately 482 million tonnes of recyclable ferrous metals were utilized in global steel production. Although industry fundamentals have weakened markedly in line with the world-wide economic and financial crisis, these fundamentals should again improve once the economic outlook and conditions improve. Healthy demand for raw materials for steel production in China, South Korea, Turkey, Russia and India should as a result again resume. Scrap metal became increasingly popular due to the lower emissions it produces. Trading & Manufacturing Co?s pricing is determined by global prices.As raw materials make up an increasing proportion of overall costs, steel makers are continuously looking for more cost effective inputs, and scrap is an ideal solution.Since the early 1990s, the use of recyclable ferrous metals in steel manufacturing has grown dramatically. Global demand for recyclable ferrous metals has over the last few years shown an increasing upward trend. Total global crude steel production increased from 1.05 billion tonnes in 2004 to 1.344 billion tonnes in 2007.About 200 million tonnes of scrap is traded internationally each year, of which about 90 million tonnes are seaborne trade.South Africa?s recyclable ferrous metals market is in excess of 3 million tonnes per annum.
