Will we reach $260/t CFR for physical scrap? Stronger Chinese demand for finished steel products has helped increase Turkish scrap import prices over the past week. Again, there were a handful of physical bookings completed late last week between $255-$258/t CFR. According to Platts a US based seller transacted an HMS 90:10 cargo (which also …
Tag archives: SS
Steel & Scrap Morning Report
Iron ore futures firmer as Australian volumes surge
Iron ore futures advanced on Tuesday on renewed optimism over a swift economic recovery in China and hopes for further demand after the rainy season. The world’s biggest steel producer brought in 101.68 million tonnes of iron ore last month, surging from 87.03 million tonnes in May, data from the General Administration of Customs …
Continue reading “Iron ore futures firmer as Australian volumes surge”
Steel & Scrap Morning Report
FOMO drives China iron ore sentiment
Iron ore futures rallied sharply on the first trading day of the week on market optimism over steel demand as China’s recovery gathered momentum. An upturn in industrial output suggests that the economy expanded in last quarter after cratering in the opening three months due to the coronavirus impact, according to Bloomberg Economics. The robust …
Steel & Scrap 13-07-20
Crash, Bang, Recovery
It was never going to be easy recovering from the largest economic shock the world has ever encountered. After record drop in consumer spending, GDP, travel and so many other indicators, it is hard to quite fathom the scale of the disruption, or the mountain left the climb to bring things back to normal. Debt …
Derivative Fact Sheet
Steel & Scrap 09-07-20
Steel and Scrap Update 8/7/20
*Physical scrap fixtures continue to be rangebound* A handful of physical fixtures have been reported over the past week, with traded levels holding relatively steady at around $255/t CFR. The most recent fixture was a UK based seller transacting a 15kT cargo, split across 14kT HMS 80:20 at $253/t and 1kT shredded scrap at $258/t …