By CRU Principal Analyst Chris Asgill, from CRU’s Global Steel Trade Service Scrap prices have surged over the past month, with import prices up $50-90 /t m/m. Turkish prices have gained the most significant ground, though were below Asian prices a month ago. At the time of our assessment last week Turkish prices were approaching $400 /t […] The post CRU: Scrap Prices Surge on Stronger Steel Markets appeared first on Steel Market Update.
By CRU Principal Analyst Chris Asgill, from CRU’s Steelmaking Raw Materials Monitor Russia will impose tariffs of 5% ferrous scrap exports, with a minimum rate of €45 /t ($55 /t), for a period of six months. The country states that these are to protect the domestic metallurgical industry from supply shortages and high prices. As shown […] The post CRU: Russian Scrap Export Tariffs to Up Pressure on EU, U.S. Scrap Markets appeared first on Steel Market Update.
By CRU Principal Analyst Chris Asgill, from CRU’s Global Steel Trade Service China has banned steel scrap imports for the past year as part of its solid waste management policies that affect imports on a wide range of metal scrap and plastic waste. Recently, policymakers announced that a review on these policies will be sped […] The post CRU: Reclassifying Chinese Scrap Imports is Unlikely to Solve Market Tightness appeared first on Steel Market Update.
By CRU Principal Analyst Chris Asgill There has been a marked rise in Chinese imports of pig iron and HBI this year. This has been primarily due to limited domestic scrap supply that cannot be offset by external supply due to restrictions in scrap imports. Limited scrap supply relative to demand has meant that scrap prices in […] The post CRU: Chinese Pig Iron Imports Lift as High Local Scrap Costs Persist appeared first on Steel Market Update.
By CRU Principal Analyst Chris Asgill Weak steel markets have continued to drive down scrap prices in many regions. In the key supply markets of Europe and the U.S., mills have taken outages as demand has failed to recover seasonally. Meanwhile in Japan, weak steel demand and high steel inventories have continued to limit steel […] The post CRU: Weak Steel Demand and Mill Outages Keep Scrap Demand Low appeared first on Steel Market Update.