Seven people working in the scrap industry were detained as police and soldiers intervened to break up three days of road blocks and protests in Claxton Bay, Trinidad, against a temporary prohibition of scrap exports. The government’s motive is to crack down on theft, primarily of copper and cables. The ban is intended to be short […]
The transformation the steel industry has undergone has been accelerated over the past 18-24 months, with even greater dynamics underway, said a panel of steel executives and analysts during the first day of Steel Market Update’s 2022 Steel Summit conference in Atlanta, Ga. Demand trajectories across regions are diverging, finished steel consumption in China is […] The post The Global Steel Industry: A Reshaping is Underway appeared first on Steel Market Update.
Turkish scrap import prices increased w/w Turkish scrap slightly edged higher to $395 /t CFR for HMS 1/2 80:20 (+$3 /t w/w, -$11 /t m/m). Market activity has picked up after the initial price increase, and we heard five deals ranging from $387 /t to $402 /t CFR Turkey for HMS 80:20. Scrap prices(1) $/t 22-Jul […]
The following article on the hot-rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Weekly changes in the value of spot HR have continued to drop an average of about $30/net ton but it should […] The post Hot Rolled Futures: Peak Summer Pause? appeared first on Steel Market Update.
The Trinidad and Tobago government has outlawed the shipping of most scrap steel and copper abroad for, provisionally, six months to tackle the theft of infrastructure. Telcom TSTT and water company WASA have been worst hit, with service to customers affected. The prohibition is intended to be short term while the government devises a legislative […]
Though longer term market fundamentals remain good, global metal recycler Sims Limited says significant volatility makes the short-term outlook uncertain. “Aggressive interest rate rises to combat rapidly increasing inflation have reduced the demand for steel, copper and aluminium, and therefore the demand for recycled metal,” the Australia-based company said in commentary accompanying release of its […]
Turkish scrap import prices increased w/w Last week, Turkish scrap prices rose sharply on three new deals from western Europe and North America, lifting our assessment for HMS 1/2 80:20 to $392 /t CFR (+$40 /t w/w, -$14 /t m/m). Scrap prices(1) $/t 15-Jul 22-Jul 29-Jul 05-Aug 12-Aug HMS 1/2 80:20 CFR Turkey 406 406 365 […]
The Kyrgyz government is introducing a six-month ban on shipments of ferrous metal scrap and waste, and ferrous metal ingots outside the Eurasian Economic Union (EEU). The measure is one of a series announced by the government, including restricting exports of precious metals and products containing precious metals to less than 500 kg. Kyrgyzstan previously […]
Three Anhui-based secondary smelters, Dahua, Chaowei and Tianchang, each with refined lead capacity of 200,000 t/y, cut production temporarily on 9 August due to hot weather-related power restrictions. The cutback is expected to last for one week, with an estimated production loss of around 600 t/d at the three smelters. However, we understand that any […]
Turkish scrap prices continued to edge lower, down to $352 /t CFR HMS 1/2 80:20 (-$13 /t w/w, -$54 /t m/m) based on the latest deal from the US. Scrap prices(1) $/t 08-Jul 15-Jul 22-Jul 29-Jul 05-Aug HMS 1/2 80:20 CFR Turkey 406 406 406 365 352 Shredded CFR Turkey 426 426 426 385 372 Notes: […]