February 2017 | Steel Raw Materials
Scrap prices see spring revival: Latest Analysis
Signs of a turnaround in scrap are positive for coal and coke demand. In this week’s issue we highlight several miners’ plans to increase seaborne supply, just as Chinese coke producers are focussed on cutting volume to protect price.
As we highlighted in last weeks issue, greater demand for scrap and their supplements (metallics) in the USA has supported suppliers in their monthly contract negotiations for February delivery. Settlements in Philadelphia were quick to reflect the downturn in east coast export prices through January, but in the Midwest, where flat-rolled steel producers in particular enjoy very high margins, comparatively small erosions were recorded at the time of writing. Indeed, Pittsburgh and...
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