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Iron ore at record low, scrap peaks

Iron ore at record low, scrap peaks (May 9, 2017)

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Last week steel prices in China recovered somewhat, supporting an increasing sentiment across the globe. Iron ore prices surpassed on the 27 April the $67/t cfr Qingdao, according to Kallanish’s price index, over $2/t above mid-April’s bottom. The rebound supported a recovery in Chinese finished steel prices as well as in scrap levels in Turkey. Nevertheless market sources noticed that it is still too soon to talk about a change in trend, as the recovery could be short-lived going into May.

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Billet / CIS-Black Sea FOB USD/t 0.0%
Rebar Import / Kuwait / CPT KWD/t 0.0%
KORE 58% Fe / Qingdao CFR USD/t -0.14%
HMS 1 Scrap / US Midwest Delivered Basis USD/t 0.0%
HMS 1&2 80:20 / Turkey CFR USD/t 0.0%
HMS 1/2 Scrap (80:20) / Rotterdam FOB USD/t 0.0%
KORE 62% Fe / Qingdao CFR USD/t -0.11%
Shredded Scrap / Turkey / CFR USD/t 0.0%
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Billet / Tangshan Ex-Works CNY/t 0.0%
KORE 65% Fe / Qingdao CFR USD/t -0.06%
Heavy Scrap / China / CNY/t 0.0%
HMS 80:20 Scrap / Benelux / delivered dock, EUR/t -1.6%
Rebar / Turkey FOB USD/t 0.0%
HMS 1/2 Scrap (80:20) / US East Coast FOB USD/t 0.0%
Rebar Domestic / Kuwait / Ex-Works / KWD/t 0.0%
Rebar Import / Bahrain / CPT / BHD/t 0.0%
Rebar Local / Bahrain / CPT / BHD/t 0.0%
Rebar / Saudi Arabia / Delivered Basis / SAR/t -0.0%
Rebar / UAE / Ex-Works AED/t -2.0%
A3 (HMS 1&2 80:20) Short-Sea Scrap / Turkey CFR USD/t 0.0%
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