December 2016 | Steel Scrap and Metallics Forecaster
Major seaborne scrap benchmarks break higher after month long hiatus in activity: Latest Analysis
MBR maintains its view that Turkish electric arc furnace steel producers will experience greater competition for volumes from integrated producers all over Europe as most BOF steelmakers proportionally reduce their charge of hot metal in favour of more cost competitive scrap.
MBR understands Turkish mills broke their month-long hiatus from the scrap market and concluded new deals in the week commencing 12th December, with the news of three deep-sea bookings for January shipment. As a result, Metal Bulletins daily Turkish HMS#1&2 (80:20) import index broke out of its recent narrow range and edged $11.39/t...
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