July 28 (LTIT) –The imposition of trade restrictions by several countries, coupled with Covid-19 related impacts have crippled the global flow of scrap materials. The restrictions in supply have helped in demonstrating the valuable role of secondary commodities.

The ferrous scrap prices surged higher by $30 to $50 per ton in early May this year, even as steel mills production recorded notable decline. The jump in prices was mainly due to huge drop in scrap collection. The analysis by industry experts points to shortage of high-grade ferrous scrap in the U.S. over the next two years.

The recovered fiber prices skyrocketed, triggered by heightened demand for from tissue paper segment.