Morning Steel & Scrap Report 20/9/21

FOB China HRC The index kept flat on Friday (17.9.21) at US$909/t, MTD US$909/t.   Markets are inactive today with China on holiday for the Mid-Autumn Festival that runs through tomorrow.   Chinese production cuts have targeted rebar and wire rod output because the margins are narrower than for HRC. That led to prices to …

Steel and Scrap Morning Report 17/9/21

FOB China HRC The index kept flat yesterday (16.9.21) at US$909/t, MTD US$909/t.   Three major construction steel mills in Jiangsu province were heard to be expanding output cuts to 30pc for the rest of September, and a private mill shut down all its three blast furnaces for the rest of the month with no …