STEEL FIRST OUTLOOK: How far will seaborne scrap prices rebound?

Metal Bulletin Research (MBR) explains what has driven the sharp rebound in seaborne scrap prices and considers where the major benchmark prices will move to next.

Prices for Turkish imports of HMS 1&2 (80:20) grade scrap from Northern European climbed by 79%, or $134 per tonne, from a trough at $168.69 per tonne cfr Turkey on February 11 this year, to $302.40, on the same basis, on April 28. The initial rally in mid-to-late February was largely driven by Turkish buyers returning to the market to source sufficient volumes for higher electric arc furnace (EAF) production schedules in March and April. While output via this steelmaking process in March remained 0.7% below the levels seen in the corresponding month last year, EAF production jumped...


Metal Bulletin Research

May 02, 2016

11:01 GMT