November 2018 | Steel Scrap and Metallics Forecaster
Scrap joined the downtrend in the Chinese steel and steelmaking raw material markets: Latest Analysis
The US market found greater support from domestic factors this month with steel capacity utilization rates being above 80% for seven straight weeks.
Scrap joined the downtrend in the Chinese steel and steelmaking raw material markets
The price decline came later than we expected, but is likely to continue. Last year, the growth in scrap demand in China was mainly attributed to higher use at integrated mills, as scrap was cheaper than hot metal production costs. Since December 2017 heavy scrap has been at a premium to hot metal, so unless there are significant reductions in blast furnace iron production compared with those in crude steel (the...
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