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

Change font size:   

November 2019 | Steel Raw Materials

Margin gains downstream suggest scrap price “ridge” is here to stay: Scrap Highlights

The extraordinary demand-pull for steel in China this year – still over 7% through the first 10 months according to our calculations – has, however, been of little benefit to international or indeed domestic Chinese steel suppliers

Chinese ferrous scrap prices remained stubbornly high in November so far at a dollar equivalent before tax of around $350 per tonne delivered. The value of Chinese heavy steel scrap contrasts with international benchmarks such as Turkey’s imported blend of HMS#1&2, which are still struggling to rally in parallel. In the week ending November 22, the Turkish benchmark of north European origin was over $90 per tonne below Chinese prices. The substantial “differential” or premium for made-in-China scrap has been narrowing almost weekly since exceeding $122 per tonne after the early October holidays, however, which suggests that China might finally be big enough to...


To read the rest of this analysis please take a free sample or subscribe

FREE Sample

Receive a free sample of  market analysis and price forecasts.

Free Sample


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.


Already subscribed?