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Turkish scrap import prices inch upwards as Lira strengthens
Turkish scrap import prices increased for the first time in almost two months.
Turkish scrap import prices increased for the first time in almost two months.
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.
Insights, Skepticism, and predictions from industry insiders.
Which direction is the market moving?
Is the ferrous scrap market potentially signaling an industry recession?
US ferrous scrap prices fell steeply in March for HMS, shredded, and prime scrap, sources told SMU. “The March ferrous market was considerably softer due in general to better-than-expected inflows in February, less demand from US mills thanks to falling finished steel prices, and less demand from lackluster markets overseas,” one scrap source said. The […]
In a surprising turn, a Rocky Mountain mill resumed its purchasing program at half its normal capacity, signaling potential stabilization in the Texas/Gulf region for the upcoming month.
The drop in its offer prices was larger than most industry observers had forecast, especially for shredded scrap.
Monthly SRU survey finds near-term ferrous prices could fall
Even though it’s the fifth of the month, there have been no confirmed purchases by domestic steelmakers. Rumors are circulating about how low prices will drop. Most of the scrap community is forecasting a $50/gt drop for #1 busheling, with shredded and P&S at perhaps $40/gt.