Metallics prices upgraded due to higher steel prices and improved sentiment towards demand

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 […]