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

Chinese scrap prices move downwards and poised to decline further: China Market Analysis

Announced winter cuts, in particular to blast furnace (BF) iron output, in theory might lead to higher scrap demand, should steel output not fall at the same pace, but we do not expect that to happen this year.

Domestic heavy melt scrap prices in China started to decrease in mid-November, and continued to drop through December. The price averaged 2,508 yuan ($364) per tonne delivered incl. VAT in December, down by 236 yuan compared with the 2743 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. We have argued that relatively cheap hot metal production costs would take their toll on elevated ferrous scrap prices, as...


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