Metallics demand and prices picked up in December on the back of delayed restocking and seasonal supply tightening. We expect the trend upwards to continue in the short term, but m/m price movements to be thinner in comparison with the high increases of December. In the USA, prices are expected to continue increasing. Supply will […]
Pig iron prices rose m/m for all major regions, driven by rising scrap prices. Supply has tightened in Brazil, extending lead times for US buyers. Additionally, higher domestic consumption in the CIS has restricted availability in Western Europe. In the CIS, pig iron prices increased $48 /t m/m to $385 /t FOB Black Sea. Higher […]
European scrap prices increased significantly in December as mills looked to secure supply ahead of the new year amid tight supply. Scrap prices in Europe currently range between €360 /t and €390 /t depending on the country and grade. European scrap prices rose substantially over the past month as mills looked to secure material ahead […]
The CRUmpi rose by 11.1% m/m to 334.4 in December, its highest value since April 2023. Moreover, the m/m percentage increase is the highest since April 2022 – when prices surged because of the supply disruption caused by the war in Ukraine. Europe and the USA led the sharp price upswing as scrap supply tightened […]
Rising export prices, coupled with tight supply and stronger order books, pushed the US scrap market higher m/m. While some markets are still unsettled at the time of writing, buyers were opting to secure material on a TBD basis. At the same time, dealers are working to ship orders before the seasonal holidays. Although […]
Scrap prices rose m/m in all major Asian markets. Besides more restocking demand from Southeast Asia, the sharp increase in US scrap prices has pushed up import prices in the Asian markets and enabled Asian exporters to raise offer prices. Chinese domestic scrap prices rose to RMB2,910 /t in mid-November and stabilised at this level […]
The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data. The post HRC vs. busheling spread widens in December appeared first on Steel Market Update.
Steel is up again this week. Scrap is up by a lot this month: $85 per gross ton for busheling, by our calculations. The post Final thoughts appeared first on Steel Market Update.
US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU. The post Domestic scrap tags soar in December appeared first on Steel Market Update.
The prices for all grades of pig iron have dramatically risen since SMU’s last report from Nov. 18. The post Miller on scrap: Pig iron market takes off appeared first on Steel Market Update.