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Global price rally continues, demand outlook improves

Global price rally continues, demand outlook improves (Aug. 1, 2017)

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The rally in global steel prices continued last week, supported by scrap levels approaching a new record level and iron prices stabilising at above $68/tonne cfr Qingdao.

As an indicator as we head into August, HRC exported from the CIS is currently at its highest level of the year, at $500/t fob Black Sea. Chinese HRC export levels meanwhile are some $25/t above the prices registered in July 2016.

While the market is enjoying the pricing momentum, ArcelorMittal, the largest steelmaker in the world, also noted that global demand has performed better than expected during the first part of this year. As a result the company has increased its outlook for apparent steel demand in 2017. 

Latest prices

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CRC / N America Ex-Works USD/s.ton 0.0%
HRC / N America Ex-Works USD/s.ton 2.0%
Plate / N America Ex-Works USD/s.ton 0.0%
HDG / Italy Ex-Works EUR/t 0.0%
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 0.0%
HRC / S Europe CIF EUR/t 2.0%
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More Global Prices

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E3 Demolition Scrap / Austria Ex-Works EUR/t 0.0%
E40 Shredded Scrap / Italy Delivered Basis EUR/t 0.0%
Pig Iron / Brazil FOB USD/t 2.0%
Shredded Scrap / Turkey / CFR USD/t 0.0%
CRC / Italy Ex-Works EUR/t -1.0%
E3 Demolition Scrap / Germany Ex-Works EUR/t 1.0%
E3 Demolition Scrap / Italy Delivered Basis EUR/t 7.0%
Billet / Tangshan Ex-Works CNY/t 1.0%
KORE 62% Fe / Qingdao CFR USD/t 4.67%
Billet / CIS-Black Sea FOB USD/t 0.0%
Heavy Scrap / China / CNY/t 0.0%
Pig Iron / Black Sea FOB USD/t 1.0%
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