Ukraine’s metal sector association Ukrmetallurgprom has reiterated its request for a temporary prohibition on foreign shipments of scrap steel after the latest customs service data showed exports of 101,615 t between January and July were 3.5 times higher than the year-ago period. They were valued at $29.8 M (€27.2 M), up 2.4 times. But the […]
The Kyrgyz government is prohibiting shipments of some types of scrap metal outside the Eurasian Economic Union (EEU) trading bloc for six months from 11 August. The ban covers ferrous scrap and associated waste plus ferrous metal ingots for remelting, also known as charge ingots, the cabinet of ministers announced. A limit of 500 kg […]
The summer cycle has brought more focus around the uncertainty of where HR prices are headed. Spot indexes continue to bleed lower despite price hikes from sheet mills. Market talk is of still lower prices as the gap grows between the slow-moving index versus expectations for HR future prices declines. (The index likely reflects smaller, […] The post HRC Futures: Supply/Demand Uncertainty Pushes HR Forward Curve Lower and Flatter appeared first on Steel Market Update.
August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU. The post Domestic Scrap Tags Could Rebound in August: Sources appeared first on Steel Market Update.
Domestic scrap prices fell for busheling and shredded grades in July, while tags were mostly sideways to slightly up on heavy melting scrap, sources said. “Between tight scrap supplies, slightly better-than-expected domestic demand in the South and Ohio Valley, and relatively stable export pricing, the market trended sideways for obsolete grades in those regions as well […] The post Bush, Shred Prices Down in July, HMS Mostly Sideways appeared first on Steel Market Update.
Next month is expected to bring some stability after months of falling scrap prices, with sources seeing the market as sideways. “The July market expectations are soft sideways,” one scrap source told SMU. “A stable export market combined with reduced inbound scrap flows should halt the recent run of large price drops.” He said that […] The post July Scrap Market Predicted To Be Sideways appeared first on Steel Market Update.
The government of South Africa is to prohibit foreign shipments of copper and carbon steel scrap for six months in an ongoing effort to curb the theft of metal infrastructure. Railway lines, electricity pylons and road barriers have been stolen, mostly for the metal to be exported, according to the police. The thefts have caused […]
Metallics prices have fallen in most global markets over the last month, driven by weak steel demand and improved metallics supply. Lower finished steel prices and EAF margins have weighed heavily on metallics prices across major markets. Scrap bids from key buyers have reduced further amid ample availability, while recent pig iron price cuts have […] The post CRU: Weak Demand Pushes Global Scrap Prices Down appeared first on Steel Market Update.
Domestic scrap prices continued to tumble this month on soft demand and strong inbound scrap flows, but the market could come into balance in July, sources said. “After this more-than-expected drop in prices for June, the market next month should be sideways at worst,” one source said. He noted that the export market remains firm and […] The post US Scrap Prices Sink in June on Weak Demand appeared first on Steel Market Update.
Foreign shipments of ferrous scrap from Ukraine increased 3.1 times in a rising trend to 77,452 t year-on-year in the first five months of 2023, according to customs data. Exports were 8,280 t in January, 16,500 t in February, 15,450 t in March, 16,190 t in April and 21,003 t in May. Most material went […]