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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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February 2015 | Steel Raw Materials


Chinese scrap consumption wanes with steel output: Scrap Highlights


Slack scrap and metallics consumption has also been exacerbated by Chinese mills lowering output 5% in mid-to-late January, compared to levels at the beginning of the month, in order to implement maintenance programmes.

Chinese scrap and metallics suppliers remained under pressure to lower benchmarks to remain competitive with relatively low alternative steel making raw materials costs through to mid-February. Hot metal production costs in China stand at a multi-year lows, owing to substantial declines in domestic and seaborne iron ore prices. This have prompted some domestic steel producers to reduce their consumption rates of costlier scrap in the basic oxygen (BOF) and electric arc furnaces (EAF) to make their charge and melt mixes more cost competitive. As a...

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