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

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December 2018 | Steel Scrap and Metallics Forecaster


Weak steel prices in China keep the pressure on scrap and metallics tags: Latest Analysis


Tighter steel margins in China have also contributed to a pickup in demand for lower-cost Australian-origin iron ore, with the strongest rise in capesize freight rates over the last month coming on the key shipment route from Dampier to Qingdao.

Weak steel prices in China keep the pressure on scrap and metallics tags

Chinese domestic heavy scrap prices averaged 2,508 yuan ($364) per tonne delivered including VAT in December, down by 236 yuan compared with the 2,743 yuan averaged in November. Apart from one downward weekly correction in late August, the price drop which originated in November was the first decrease since May and we believe this downward trend will continue. We calculate that the discount for hot metal production costs to ferrous...

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