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Firm raw material prices support steel

Firm raw material prices support steel (July 4, 2017)

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Last week the global ferrous market continued to enjoy a positive momentum, as raw material prices remained firm and continued to support finished steel levels across the globe.

Iron ore stabilised at levels above the $60/t CFR Qingdao, a level not recorded since end of May this year. The firm iron ore levels supported prices in China, with both long and flat steel prices looking up. The effect of higher iron ore prices was also felt in the CIS, where both coils and billet mills pushed up their export offers.

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Stainless Steel CRC / Italy Delivered Basis EUR/t 5.0%
Rebar / Turkey FOB USD/t -0.0%
E6 New cutting scrap (DKP) / Turkey / delivered basis, TRY/t 0.0%
HMS 1/2 Scrap / Taiwan CFR USD/t 2.0%
E40 Shredded Scrap / Italy Delivered Basis EUR/t 3.0%
Billet / CIS-Black Sea FOB USD/t 0.0%
Heavy Scrap / China / CNY/t 1.0%
HMS 1&2 80:20 / Turkey CFR USD/t 0.0%
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More Global Prices

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KORE 58% Fe / Qingdao CFR USD/t 5.15%
E3 Demolition Scrap / Germany Ex-Works EUR/t 0.0%
Billet / Tangshan Ex-Works CNY/t 1.0%
KORE 62% Fe / Qingdao CFR USD/t 4.94%
KORE 65% Fe / Qingdao CFR USD/t 4.36%
E2 & E3 Shipbreaking scrap /Turkey / Delivered basis / USD/t 0.0%
E8 Light New Scrap / Italy Ex-Works EUR/t 1.0%
HMS 1&2 80:20 / UAE, delivered basis AED/t 1.0%
HMS 1/2 80:20 / Bangladesh / CFR USD/t 5.0%
Billet / Saudi Arabia / Ex-Works SAR/t 0.0%
Billet / GCC / CFR USD/t 0.0%
Shredded Scrap / Turkey / CFR USD/t 0.0%
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