STEEL WEEK IN BRIEF: Scrap price falls; fresh US sanctions against Iran; global excess steel supply finding its way to Middle East…

Fastmarkets MB reviews the major stories that have affected the steel market during the week ended November 9.

Raw Materials Japanese H2 scrap continued to lead price falls in the Asia markets amid weak demand from end users and bearish sentiment among traders. It is unlikely that there will be any spot-market activity in 2019 for direct-reduction (DR) grade iron ore pellets, according to Saudi Arabian steelmaker Rajhi Steel. Demand for pig iron exported from Brazil improved during the week ended Friday November 9 due to an expected reduction in supply when the rainy season starts. Turkish domestic auto bundle scrap prices have gone down in line with falling domestic rebar prices, while ship scrap prices have risen thanks to strong imported...

Published

Ross Yeo

November 09, 2018

21:24 GMT

London