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Iron ore at seven months low, scrap stable

Iron ore at seven months low, scrap stable (May 30, 2017)

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Last week the Kallanish iron ore index reached a seven-months low at $58.24/tonne CFR Qindgdao; the correction came as Chinese rebar and HRC prices moved up during the week, indicating that mills have manged to increase somewhat their marginality. While the lower iron price is set to force the market to move down somewhat its finished steel levels, the outlook is for a gentle correction as mills in China are enjoying a better than anticipated market. 

Latest prices

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HMS 80:20 Scrap (West Africa origin) / India / CFR USD/t 3.0%
Rebar / Singapore CFR USD/t 1.0%
Rebar / Turkey / ex-Works / $/t / excl. VAT -0.8%
HRC / Turkey Ex-Works USD/t -2.0%
HRC / Turkey FOB USD/t -0.0%
E40 Shredded Scrap / India / CFR USD/t 2.0%
E40 Shredded Scrap / Pakistan / CFR USD/t 4.0%
CRC / N America Ex-Works USD/s.ton -0.0%
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More Global Prices

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HRC / N America Ex-Works USD/s.ton 1.0%
E3 Demolition Scrap / Italy Delivered Basis EUR/t 0.0%
E1 Heavy Demolition Scrap / Italy Delivered Basis EUR/t 0.0%
Welded Pipe (S235) / Turkey FOB USD/t -1.0%
Wire Rod / N Europe / Ex-Works EUR/t -1.0%
Merchant Bar / Italy Ex-Works EUR/t 1.0%
Rebar / Italy Ex-Works EUR/t 0.0%
Wire Rod / Italy Ex-Works EUR/t -3.0%
Billet / Italy Ex-Works EUR/t 2.0%
Wire Rod / China FOB USD/t 0.0%
Heavy Scrap / China / CNY/t 0.0%
Billet / Manila CFR USD/t 2.0%
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