Prices for pig iron in Brazil have increased despite efforts by U.S.-based buyers to lower them. It has been confirmed that a U.S. buyer has purchased a 55,000 MT cargo, presumably for May shipment, at $430/MT FOB South Brazil.
Scrap prices were flat-to-down in major regions on the back of additional supply and slow demand. Asian prices started 2024 on a better footing than those in Europe and the USA. Scrap prices typically rise in January due to tighter supply of both prime and obsolete grades of scrap. However, steady automotive production and a […]
Metallics prices stalled in January on the back of additional supply and quiet demand. We expect prices to be supported in the USA, Europe, and the CIS in the short term, while Asian prices will be under pressure. In the markets outside Asia, scrap supply is expected to tighten as winter progresses. At the same […]
Pig iron prices rose m/m in all major regions aside from Europe on improved buying. Demand in the US remains robust while market participants report that availability of Brazilian material increased after tightening a month prior. Meanwhile, Ukrainian export capacity increased due to greater access to temporary sea corridors. In the CIS, pig iron prices […]
The CRUmpi declined by 1.1% m/m to 330.7 in January, compared to a 5.5% m/m increase in January 2023. Metallics prices typically rise in January due to tighter supply of both prime and obsolete grades of scrap. However, steady automotive production and a milder winter thus far in most major supply markets resulted in greater […]
The US scrap trade was still being finalised at the time of writing, and the tug-of-war between mills and dealers left the market in limbo for several days. Detroit and Midwest mills initially entered the market with bids lower m/m for both prime and secondary grades, but dealers were pushing to keep prices flat. Ultimately, […]
Scrap prices majorly increased m/m in December with supply holding at low levels, as is seasonally expected, while demand strengthened, most noticeably in the USA. The sudden price rise was also seen in Europe, while Asian prices rose by a much lesser extent. Other metallics prices also increased. Scrap prices rise on western markets’ demand […]
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 […]
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 […]