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

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April 2017 | Steel Scrap and Metallics Forecaster


Prime scrap and metallic supplements continue to outperform: Latest Analysis


US, Brazilian, and Russian pig iron, out of the Baltic though not Black Sea, have each increased through April and besides their own comparatively tight market dynamics, have been assisted by stronger than expected prime scrap pricing, especially in the USA.

In last month’s issue we detailed that our negative outlook for pricing was based on the combination of high scrap, if not high pig iron supplies, falling steel prices in China and the low and still falling prices of hot metal. That just as China provided upward relief to much of the world’s steel and steelmaking raw materials prices earlier in the year, so the reverse was going to be true now. Certainly the downturn in Chinese steel markets has accelerated through April, especially for flat-rolled steels and actually surpassed our expectations. So much...

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