May 2019

WEEKLY SCRAP WRAP: Turkey begins recovery after US tariff cut; other markets 'will follow'

The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel.

US PIG IRON: Deal prices stable on scrap market bottoming, rising iron ore costs

The pig iron market in the United States was stable this week, with the scrap market said to be around the bottom while the cost of iron ore continued to increase, Fastmarkets heard on Friday May 17.

Export pig iron prices from southern Brazil down on reduced sales

Pig iron export prices from the south of Brazil have gone down slightly this week on lower sales to Asia, Fastmarkets heard on Friday May 17.

EUROPE ALLOY STEEL SCRAP: Prices down on declining demand, scrap costs despite nickel uptick

European and UK austenitic and chrome steel alloy scrap prices decreased over the past week because of declining demand and lower ferrous scrap costs, sources told Fastmarkets on Friday May 17.

CIS PIG IRON: Market flat on stable sales prices

The market for pig iron exports from the Commonwealth of Independent States (CIS) was stable during the week ended Thursday May 16, with several sales to the United States at prices equal to those heard at the start of the month.

UK SCRAP: Light iron market tracks weaker May settlements

The UK’s light iron market has dropped over the week ending May 17, losing another £5 ($6.41) per tonne following a £10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.

DAILY SCRAP REPORT: Turkish mills return to deep-sea markets after US removes extra duty

The Turkish steel producers resumed their purchases from the deep-sea scrap market at slightly higher prices at the end of this week after news of the removal of additional US import tariffs on Turkey-origin materials, sources said on Friday May 17.

INDIA IMPORT SCRAP: Prices continue to fall but may recover after election

The price of shredded ferrous scrap imported into India fell again this week after deals were agreed at lower prices, market sources told Fastmarkets on Friday May 17.

GERMANY FERROUS SCRAP: Domestic prices down in line with global market

German steelmakers have settled their monthly scrap contracts for May at prices with an average decrease of €5-10 per tonne from last month, sources told Fastmarkets.

IRON ORE DAILY: Seaborne prices exceed $100 per tonne for first time since May 2014

Physical iron ore markets continued to strengthen on Friday May 17 with the seaborne price breaching $100 per tonne cfr China for the first time in five years, amid a bullish performance by futures.