Prices for most European grades declined in August The European scrap market has been impacted by weak demand. All of our contacts who buy scrap to feed their production have reported being less active on the spot market. Some even took the decision to stop buying scrap until further notice, and instead use their existing […]
Turkish scrap import prices decreased w/w Turkish scrap prices fell last week, down to $371 /t CFR for HMS 1/2 80:20 (-$25 /t w/w, -$21 /t m/m). Trading activity has remained thin. Scrap prices(1) $/t 12-Aug 19-Aug 26-Aug 02-Sep 09-Sep HMS 1/2 80:20 CFR Turkey 392 395 393 396 371 Shredded CFR Turkey 412 415 413 […]
Members of Thyssenkrupp’s executive board have agreed to allocate more than €2 bn ($2 bn) of capital for construction of the German conglomerate’s first direct reduction iron (DRI) plant. A final go-ahead remains subject to public funding. The company’s intention is to award the contract for the 2.5 Mt/y unit at its Duisburg works in […]
US plate prices were unchanged this past week but remain under pressure. Spot demand is limited, with sources noting that Nucor’s efforts to keep prices flat might be short-lived. Recall that Nucor announced it would keep some plate prices flat and decrease certain cut-to-length items as much as $150 per ton ($7.50 per cwt) with the […] The post Plate Market Report: Prices Hold for Now, Decreases Expected appeared first on Steel Market Update.
Turkish scrap import prices increased marginally w/w Turkish scrap prices rose slightly to $396 /t CFR for HMS 1/2 80:20 (+$3 /t w//w, +$44 /t m/m) due to slow market activity. Last week, Turkish authorities had announced a rise in electricity and gas prices by ~20% for households and ~50% for industrial use. This has […]
We have downgraded our metallics price forecast for 2022 Q4 as demand has proven weaker than expected, with little buying interest amidst steel production cuts related to weak demand and increasing costs, mainly in Europe. We continue to believe restocking will give support to prices in the US and European domestic markets in October, while […]
Prices for five of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days, further declining from the record levels seen in March and April. Through the latest data available as of August 31, pig iron prices decreased 38% in the last month, busheling scrap prices fell 14%, aluminum […] The post Majority of Steelmaking Raw Material Prices Decline Through August appeared first on Steel Market Update.
Diversified metal and mining group, Rio Tinto, says it will construct an aluminium recycling centre at its Arvida plant in Saguenay-Lac-Saint-Jean, Quebec. The company says the new unit will make it North America’s first primary aluminium producer to incorporate post-consumer material into aluminium alloys. Clean aluminium scrap sourced locally from used vehicles and construction materials will be […]
Turkish scrap import prices decreased marginally w/w Last week, Turkish scrap prices fell by a marginal $2 /t w/w (up $28 /t m/m) to $393 /t CFR for HMS 1/2 80:20. Market activity calmed again after a series of purchases in mid-August. Turkish mills have lowered their finished longs offers by 10–20 /t w/w due […]
Steel Market Update sources expect ferrous scrap prices to be sideways or rise slightly going into September. The move would potentially end the four-month streak of declines seen since the spring’s record high tags. Obsolete grades are anticipated to remain relatively stable from August to September, while prime scrap is expected to increase $20-$30 per […] The post September Scrap Prices Expectations Sideways or Rising appeared first on Steel Market Update.