ASCOR UK HOME ABOUT US OUR SERVICES OUR NETWORK NEWS CONTACT US NEWS 25 November 2021 Sluggish trading in the scrap market Turkey. The situation in the Turkish market is still unfavorable, but nevertheless, steelmakers continue to make deals with Europe and Canada. Iskenderun-based mill purchased 20,000t of HMS 1&2 (80:20) from Belgian supplier at lower price $487/t CFR, also bonus material at $509/t CFR in the amount of 10,000t and the same volume of shredded scrap at $513/t CFR from the mentioned supplier. Meanwhile, a producer from Marmara bought HMS 1&2 (95:5) in the amount of 50,000t from a Canadian trader. Despite the fact that transactions are being made, the trade is still sluggish, and many Turkish steelmakers are in waiting mode now. Turkish lira is still falling and more local producers are raising prices for the finished material. It is not known when this situation will stabilize. Asia. China has seen a rise in prices for raw and finished material, despite production cutting and unfavorable forecasts for the near future. Australian ore fines 62% Fe hits over $100/t CFR for the first time since early November. Coking coal futures also rose by 12% on the day and reached $336.3/t. However, no deals were made on the platforms and buying activity in the seaborne market has almost dropped to zero. READ MORE... 24 November 2021 No deals on the scrap market Turkey. The situation in the segment of imported scrap in Turkey is now extremely incomprehensible, and the mood is negative. Iskenderun mill purchased HMS 1&2 (80:20) this week at a lower price from a European supplier, the price of the mentioned material was $487/t CFR. And also, the same manufacturer bought bonus and shredded material, the price of the first was $507/t CFR, the price of the second - $510/t CFR. In the meantime, activity in the country's domestic market has practically dropped to zero due to high prices, the reason for this was the fall of Turkish lira. At the moment, producers are not ready to purchase scrap at a high cost, therefore US suppliers have lowered the price tag for HMS 1&2 (80:20) to $493/t CFR Turkey, comparing to the previous day - $495/t CFR. Asia. Tangshan has announced an orange hazard level due to air pollution until the end of November, accordingly, local mills will be required to cut the production during this time. Meanwhile, the price of the Tangshan billet has risen by $6.3/t amid mentioned news. The price of Australian ore fines 62% Fe also rose up, at this moment the price of the material is $99/t CFR, and its futures have grown by $4.5/t, but this is not for a long time. At this day no deals have been made yet, because all market participants are waiting for weakening prices and are in no hurry to purchase the material. READ MORE... 22 November 2021 Turkey purchases scrap for January shipments Turkey. Turkey continues to make deals with the Baltic region and the EU to buy imported scrap for January shipments. A steelmaker from Marmara purchased HMS 1&2 (80:20) at $495/t CFR and bonus material at $520/t CFR from a Baltic trader, total volume of purchased material was 30,000t. Supplier from the Netherlands closed a deal with another in Marmara mill and sold HMS 1&2 (75:25) for $486/t CFR and also bonus material for $506/t CFR for a total of 25,000t. Meanwhile, the domestic market in Turkey underwent changes again, due to the fall in the local currency, the scrap purchase price has increased again. Most steelmakers have raised their prices by $13-57/t. Some mills have left prices unchanged, but insiders are sure that this is not for long. Everyone is waiting for further price revisions. Asia. Imported Australian iron ore jumped by $4.75/t This Friday. The price has risen following the increase in the cost of steel, but not in the long term, as weather conditions in major steel production regions are worsening and the output continues to decline. About 20 factories in Tangshan have cut operations of almost 63 converters and 71 BFs. Moreover, due to weak demand, rebar output will be reduced by almost 40% during this month. At this moment the price of Australian ore fines 62% Fe is $91.25/t CFR. READ MORE... 19 November 2021 Discounts on scrap for Turkey Turkey. Turkey finally closed a deal with a UK supplier and booked 20,000t of HMS 1&2 (80:20) at a lower price of $488/t CFR and shredded scrap at $507/t CFR for 5,000t. Local producers are still demanding discounts on imported scrap, arguing that the conditions on the domestic market are difficult, because finished product sales are still weak and Turkish lira has fallen to record-low level. Nevertheless, suppliers from the US and the Baltic region are still not going to reduce the price tag. Average price from the mentioned sellers for HMS 1&2 (80:20) is around $495-498/t CFR Turkey. In addition, Karadeniz-based company made a short-sea deal with a Bulgarian supplier and acquired HMS 1&2 (90:10) at $488/t CFR for 2,500t. Due to new contracts for November 18, the price of HMS 1&2 (80:20) from US dropped to $495/t CFR comparing to the previous day - $498/t CFR. Asia. Iron ore price does not rise above $90/t CFR. At this moment the price of Australian ore fines 62% Fe is $86.5/t CFR, $3/t less than a day ago. Due to the reduction of steel production in the largest cities in China, the demand for ore fell to the lowest level. Accordingly, rebar futures also lost $7.4/t, while the price of the Tangshan billet did not change. No deals were made on November 18, despite the fact of improving activity during last few days. READ MORE... 18 November 2021 No deals due to high scrap price Turkey. At the moment Turkey has not yet entered into any deals for imported scrap and negotiations are slow. Producers do not want to buy the product at a high price, but suppliers do not intend to reduce the cost. Also, the situation on the domestic market has become even more complicated due to the fall of Turkish lira to record-low level. However, the Baltic supplier does not intend to sell scrap at lower than $500/t CFR for HMS 1&2 (80:20). Meanwhile US East Coast supplier is willing to sell the same product for at $498/t CFR Turkey. Asia. Iron ore price remains the same for now ($89.5/t CFR) unlike its futures which lost $0.3/t. And also iron ore began to rise in demand in the seaborne market, trading volumes on platforms increased by 110,000t and have reached 380,000t by this moment. Rebar sales are still not strong, but nevertheless, its January contracts have risen in price by $13.8/t. But pessimistic sentiments due to restrictions on steel production will prevent iron ore prices from rising too high. READ MORE... 17 November 2021 Possible revision of scrap prices can be soon Turkey. No deals were made оn Tuesday and trading dropped again. Market participants cannot come to an agreement about the price of the material, but there is a possibility of decreasing amid sluggish domestic trade and the fall of Turkish lira. The situation is expecting to be resolved in the near future, because producers need the material for December shipments, but for now Turkish buyers are not in hurry to make deals. Due to the lack of purchases on the market, the price of US scrap remains at $498/t CFR for HMS 1&2 (80:20) for Turkey. Asia. Australian coking coal price has fallen by $24/t. Mid-volatile coal was sold to India this week at volume 35,000t at $375/t FOB for December shipment. After such a sharp drop, buyers will begin to demand even bigger discounts, therefore market prices are currently unstable. At the same time interest of Chinese buyers in imported material has almost come to zero. China's coal production reached 357.09 million t, the highest in several years. Meanwhile, the price of iron ore has recovered, but according to insider’s forecasts , it will not rise high throughout the winter season. On Tuesday Australian ore fines 62% Fe price is $89.5/t CFR, it is $1/t higher than the previous day. Volumes on platforms also increased to 270,000 t. READ MORE... 16 November 2021 Turkey is actively buying scrap Turkey. Demand for imported scrap is on the rise in Turkey. USA supplier sold HMS 1&2 (80:20) at $500/t CFR and shredded scrap for $520/t CFR to Marmara-based producer. At the meantime the deal with Russian seller was $494.5/t CFR for HMS 1&2 (80:20) also for Marmara. The lowest price for the same product was offered by the UK at $490/t CFR for another buyer from Marmara. Domestic prices also keep rising. This increase was due to the fall of the local Turkish currency and almost five local producers raised their scrap prices by TRY 50-675/t ($5-66/t) to offset the fall of lira. The market situation is very unfavorable and for now Turkey is waiting for a further revision of the currency rate. Asia. The weakening of steel production in China forced the price of iron ore to slump even further. Steel production dropped to its lowest level since winter 2017, according to the official data. Australian ore fines 62% Fe lost $1/t and now the price is $88.5/t CFR, and rebar futures also lost $17.4/t. According to preliminary forecasts, the situation will not improve in the near future, as weather conditions are worsening and adversely affect production. READ MORE... 15 November 2021 Prices for scrap are stable, the coal is falling Turkey. Prices for imported scrap for Turkey are still at the same level, but producers still claim discounts due to poor demand for finished products. US supplier sold 14,000t of HMS 1&2 (80:20) at stable price $500/t CFR to Izmir company, and also 30,000t of shredded scrap at $520/t CFR for December shipments. Also, due to the fall of the local currency, Turkey is forced to raise prices for finished products in the domestic market. Depending on the quality of the material and the place of production, the price increased from $2/t to $43/t. At this moment the situation is very unfavorable, because prices are rising, but demand remains low. Asia. After a short optimistic period, iron ore prices in China began to fall again. At the moment Australian ore fines 62% Fe down to $89.5/t CFR and its futures lost almost $3.7/t. The price of rebar is also falling and demand is weakening. Rebar futures dropped $30.3/t. It is unclear how long the decrease will be, that is why Chinese buyers are not in hurry to make any deals in steel segment. Demand for imported coal has also fallen, while the cost of coking coal from Australia has slipped by $5-7/t since October. The price of 75,000t premium coal was at $399/t FOB for late October shipment. But as of November, no deals have been made yet. READ MORE... 12 November 2021 Scrap demand is getting lower, but not for the long-term Turkey. Scrap purchases in Turkey are starting to slow down again. After purchases for December shipments, the market calmed down. The demand for finished products is still low, for this reason Turkish buyers got into wait-and-see mode. Even an offer from the Baltic region with a price of $500-505/t CFR for HMS 1&2 (80:20) is still open, but producers are not in a hurry to accept it. Still, Turkey needs material for further supplies, therefore, buying activity is expected to increase later. Due to lack of activity in the scrap market, price assessment from the US East Coast at $500/t CFR for HMS 1&2 (80:20) for Turkey. Asia. Iron ore prices in China have finally begun to recover amid rising demand for construction steel. At this moment the price of Australian ore fines 62% Fe has increased to $94/t CFR. Trading volumes at ports doubled to 348,000t. Rebar futures also up by $30.7/t, and its sales increased to 225,000t, comparing the past two weeks, where volumes were less than 200,000t. However, the outlook for iron ore price for the long-term is unfavorable. Prices are expected to fall by 2022, and by 2030 the minimum price tag could be $52/t CFR. READ MORE... 11 November 2021 Stable prices for scrap in Turkey Turkey. Buying activity on the Turkish scrap market began to slow down. Steelmakers are waiting for price cuts and insisting on discounts amid fallen demand for finished products. In the meanwhile prices for HMS 1&2 (80:20) remain around $500-505/t CFR and suppliers do not consider the reducing. Offers from Bulgaria were $475/t CFR for mentioned material, at the same time Romania's offer was heard at $480/t CFR, but there no deals were confirmed. Asia. Steel demand in China continues to fall, as well as the price of iron ore. Probably steelmakers will cut material production even further due to this situation. Raw material prices will only recover if buyers decide to restock for the winter, but the possibility is too low. At the moment the price of Australian ore fines 62% Fe is $89.45/t CFR, and its futures fell by $3.8/t to $83.9/t, the lowest price in three years. READ MORE... 10 November 2021 Scrap import in Turkey is growing Turkey. Turkey showed interest in the Baltic region this month and made a deal with Sweden seller for HMS 1&2 (80:20) at $500/t CFR and shredded material at $520/t CFR in the beginning of this week. Sales from other Baltic suppliers are also expected soon, as Turkey still needs scrap shipments for December, and probably in a couple of weeks producers will start purchasing for January. In addition, Marmara steelmakers entered into deals with suppliers from St. Petersburg for 20,000 t of HMS 1&2 (80:20) at $497/t CFR and also bonus material at $517/t CFR for 10,000 t. According to unconfirmed reports, last week the same region made a purchase from the UK – the transaction price was $495/t CFR for HMS 1&2 (80:20). In October, the demand for scrap in Turkey was quite high. The construction season is approaching and producers are ready to purchase the material even at a higher cost. At the end of October prices are up to $504/t CFR for HMS 1&2 (80:20), almost $64/t higher than in the beginning of the month. According to official data, supply volumes for November and December shipments reached 1.3 million t in October, comparing with September shipments which have been 100,000 t lower. Asia. Steel production and transportation have stopped due to the early arrival of winter in some northern provinces of China. As a consequence, the price of iron ore may fall due to insufficient demand. According to the latest data, Tangshan billet is down $23.5/t and Rebar futures lost $8.6/t since Monday. Now all market participants are waiting for further changes. READ MORE... 09 November 2021 Sluggish scrap trading around the world Turkey. At the beginning of this week Turkish scrap market is in the wait and see mode again. Buyers are in not rushing to make deals for at least the next couple of days to estimate the situation. At the same time, suppliers want to raise the price for HMS 1&2 (80:20) to $510/t CFR Turkey. Further forecasts are unknown, but since no deals were made, the price for scrap from the US remains at $500/t CFR for HMS 1&2 (80:20) for Turkish producers. Asia. Iron ore demand in China is falling, and steel sales, which were already rather sluggish, are likely to decline further. This stagnation in the market is due to snowfalls that began in northern China this weekend that is why production at some local mills has been halted. The transportation of the material in several provinces also stopped. According to statistics, the import of iron ore to China has been falling month-on-month and reached 91.61 million t after the launch of steel production reducing program. Nevertheless iron ore futures are up by $1.6/t comparing with their early November’s losing of 12%. At the same time, purchasing activity in the seaborne market has improved since Friday and delivery volumes doubled to 360,000t. The demand for imported scrap is dropping in Vietnam. Compared to October 21, this week's price from a Japanese supplier has dropped by $20-25/t, H2 scrap was offered for $525-530/t CFR Vietnam. Unlike Asian suppliers, US suppliers are not going to consider options for lowering prices, so last week price of HMS 1&2 (80:20) was at $535/t CFR Vietnam. Vietnamese buyers do not focus much on the overseas scrap market in general, they are waiting for the end of Kanto tender on November 10 to understand the situation with prices. READ MORE... 08 November 2021 Scrap trading keeps improving Turkey. There have been no transactions in the Turkish market at the end of this week, but nevertheless the outlook is improving and the forecasts are positive. Producers will continue to make purchases as this winter promises to be tough. At the moment scrap price in the Baltic region and US is at $495-500/t CFR. but there is a possibility that the US will raise to $505/t CFR. Asia. Imported Australian coal in China is falling in demand due to increased domestic production. However, Australia even raised the price of the product and closed two deals at the end of October, which were $7-9/t higher than last week. Deals were at $406/t FOB for 37,500t of mid-volatile material and $404/t FOB for 75,000-t of premium coal. China's coal production rose to 11.9 million, it is a new year high, so that is why buyers have now directed their interest to the domestic market. Europe. No deals from the continental Europe this week. According to market sources, the average European scrap price for Turkey should be around $490-495/t CFR for HMS 1&2 (80:20). At the same time, offers from US and Baltic increased to $498-500 t CFR for HMS 1&2 (80:20). Only the UK did not change the price and offers $491/t CFR for the same product. Russia. Prices are falling due to low demand on the Russian scrap market. A supplier from St. Petersburg sold A3 scrap for at $490/t CFR Turkey, this is $15/t lower than a week ago. But such price is due to the low quality of the material and does not mirror current situation on the scrap market. The average level of deals might be around $495-500/t CFR according to the recent offers from the USA and Europe. The demand for the product has also weakened in the seaborne market. Buyers from the Far East have already filled their stocks and now they are waiting for the price to fall. Last week’s deal was at $549/t CFR South Korea, but this week the price is $540-545/t CFR South Korea, for A3 material. READ MORE... 05 November 2021 Turkish scrap market gains again Turkey. Buying activity in Turkish scrap market is finally starting to grow. The country purchases scrap at higher prices from the US, the UK and the Baltic region. An Izmir based mill purchased 11,000 t of HMS 1&2 (80:20) at $500/t CFR from a Finnish seller. UK deal was closed for HMS 1&2 (80:20) at $491/t CFR Marmara. Another steelmaker from the same region booked HMS 1&2 (80:20) at $500/t CFR from the US, and also shredded material at $520/t CFR. Moreover according to unconfirmed reports, Denmark sold HMS 1&2 (80:20) at $498/t CFR to a local producer from Iskenderun. At this date, the atmosphere in the market is more positive and allows to make profitable deals at higher levels. US raised prices are about $510-520/t CFR for HMS 1&2 (80:20), while Baltic offers are at $495-500/t CFR for the same material. Turkish producers even showed their interest in short-sea shipping. A supplier from Italy sold HMS 1&2 (75:25) at $470/t CFR for prompt shipment to Izmir company. According to the latest data, the scrap price has risen from $494/t CFR (a day ago) to $500/t CFR for HMS 1&2 (80:20). Asia. After a few days of activity Iron ore is falling again in price amid sluggish demand in the seaborne market. No sales or deals were made on November 4, forecasts for the near future are pessimistic, at least until China cancels output restrictions, what can be done only at March 2022. At the meanwhile rebar futures dropped $24.9/t. At last, Australian fines 62% Fe fell down again by $3.25/t to $95.5/t CFR while its futures slugged by $1.1/t. READ MORE... 04 November 2021 Turkey looks for minor price for imported scrap Turkey. Turkey's expectations for the purchase of imported premium scrap do not match sellers' proposals. Suppliers are offering at least $500/t CFR for HMS 1&2 (80:20), Denmark offers $508/t CFR for HMS 1&2 (80:20), while Turkish steelmakers want the same material at $490-495/t CFR. US East Coast price assessment at $494/t CFR Turkey for HMS 1&2 (80:20). At least Turkey has managed to get at lower price HMS 1&2 (80:20) at $490/t CFR from Russian scrap supplier. Prices in domestic market of the country also moved down, against the background of negative moods in import scrap market. Due to fluctuations in dollar-denominated marks, which have lost $22-26/t, many local factories have cut their tags for material by TRY 100-130/t ($10-13). Asia. Buying activity in the seaborne market has risen again, iron ore is also starting to rise in price. Growing demand allowed sellers to make deals at high levels. Trade continues to evolve, producers rushing to buy material as long as the price remains below $100/t, despite a strong decline in production in China and unfavorable short-term outlook. Chinese traders are not currently targeting import offers due to the extended gaps between bids and offers. Indonesian offer was at $675/t CFR China, while maximum bid was around $620/t CFR. Russia. Demand for Russian coacking coal has grown abroad, especially by Chinese traders. The offer was heard $350-355/t CFR China. According to official sources, exports in October is going to exceed 2 million t comparing 1.7 million t last month. READ MORE... 03 November 2021 Low level prices for scrap in the market Turkey. Buying activity in Turkey is finally moved off dead point, negative sentiment is still present in the market. HMS 1&2 (80:20) at $494/t CFR and also shredded material at $514/t CFR from the US supplier were bought by Turkish steel producer. 25,000 t of HMS 1&2 (80:20) for December shipment was booked from the UK by another Marmara mill at $489/CFR. Insufficient demand in the market does not allow exporters to raise prices, so transactions are made al lower levels. Following the same principles, the countries of continental Europe began to sell scrap to Turkey at incredibly low levels. Benelux has cut prices even more than Britain. Rotterdam offers are $443/t FOB for HMS 1&2 (75:25) and $448/t FOB for HMS 1&2 (80:20). Last week deal for the Netherlands was at $485/t CFR for 25,000 t of HMS 1&2 (75:25). Asia. As part of the pollution cut program, Chinese manufacturers are to close 20 BFs and 20 converters in Handan city by the end of December. In the first weeks of November, many mills are also required to cut production, which could have a further impact on iron consumption. However, low-grade material in the seaborne segment is still in high demand and buying activity is growing. Total purchase by Chinese customers was 400,000 t. According to the latest data iron ore tags dropped by $2.3-7.8/t at ports. Australian ore fines 62% Fe lost $6.25/t and fell below $100/t CFR, the lowest since September 2021. READ MORE... 02 November 2021 Turkey is in waiting mode Turkey. Scrap market in Turkey continues to fall, deals are still not being made and forecasts are not so well. At the moment, market participants are waiting for further changes. The demand for finished product in Turkey is weak and negatively affects the scrap market. Suppliers are willing to offer $ 500/t CFR for HMS 1 & 2 (80:20). At the same time, Turkey is considering $ 490-495/t CFR for the submission. At the moment, US East Coast price for HMS 1&2 (80:20) up to $500/t CFR Turkey comparing to last week $504/t CFR. All the market is in the waiting mode now. Asia. The decline in steel production led to an even greater drop in market prices in China. The country is actively reducing production due to environmental pollution, as a result of which the demand for iron ore in China is falling. In this month steel PMI had dropped to 38.3% - these are the lowest rates since February 2020. Rebar futures got down by $21.3/t amid cocking coal futures which have lost 5%. Besides of that, steel production in China was affected by the decline in demand for finished products. There is also a slowdown in purchasing activity on the seaborne market after a stable previous week. Moreover, China will launch a new system to track the fulfillment of coal contracts. The platform will be launched in November, it will provide the control of contracts to exclude the possibility of speculation. Coal consumption is expected to grow by winter, but its futures have lost value by 5% or $16.1/t to $337.2/t in January contracts - information is up-to-date from Monday. In the meantime, iron ore futures in Australia fell to a lowest point since May 2020. At the moment daily price assessment is $96.35/t and iron ore fines 62% Fe is $102.25/t CFR. READ MORE... 01 November 2021 Slow bying activity in Turkish market Turkey. The Turkish market is still in a lull due to the holidays. There are no transactions or purchases. However, the market sentiment is not positive enough. Suppliers’ prices are not going down, so Turkish buyers are not ready to purchase , they are just waiting for the prices to fall. On October 29, the US East Coast daily price assessment for HMS 1&2 (80:20) remains at $504/t CFR Turkey. At the same time, Benelux is changing direction to other buyers instead of Turkey due to sluggish buying activity, the country has full stocks for December and trade is slow at the moment. The Netherlands sold HMS 1&2 (80:20) at $495/t CFR, it is $5/t below daily market price. Average price of the European scrap in the Turkish market at the moment should be at $500/t CFR. Also in August, imports of iron ore and coal in Turkey are slightly went down. The country reduced the import of coking coal by 6.5% and received 583,045 t of material. In August 2020, shipments from the US traders were up 80% compared to August 2021. Asia. China continues to cut steel and coal production due to air pollution in several largest cities. And for now Tangshan billet price is the same for the second day. But rebar futures are down by RMB 66/t ($10.3/t) amid slumping coal futures. Buying activity in the seaborne market is also very sluggish, no transactions or purchases were made, but nevertheless, interest in purchasing metal remains the same. Australian ore fines 62% Fe dropped again by $4.5/t to $107.25/t CFR after plunging of January contracts. READ MORE... 29 October 2021 New restrictions against iron ore production Turkey. Scrap market in Turkey is in a lull on October 29. Mills are about to make discounts for rebar, because foreign customers do not show high interest in finished products. Scrap segment is weakening amid sluggish demand. Baltic suppliers are willing to sell HMS 1&2 (80:20) at $510/t CFR Turkey. Meanwhile, mills are not in the mood for any positive price corrections this week. The price level in the Turkish import scrap market is unclear at the end of October. Anyway, the daily price level is estimated at the same point – at $504/t CFR Turkey. Asia. Scrap prices in Bangladesh started to skyrocket, while prices in the domestic scrap market are increasing as well. Mills are trying to buy more material to cover stocks despite a loss in the recent past. However, it is not a fact that mills will be able to mirror prices for finished products. Last week shredded scrap in containers from the UK jumped by $5-10/t to $585-590/t CFR Chittagong. However, scrap import prices are not supposed to drop anytime soon due to high freight costs. Australian coal prices are declining amid sluggish trading. Sellers should definitely reduce prices in order to sign a contract with Asian buyers. Afterwards SE Asia booked 75,000 t of low-volatile material at $397/t FOB. Moreover, this week coking coal futures continued to slump, losing 13% since October 22, reaching $391.4/t on October 28. In the meantime, Australian ore fines 62% Fe dropped by $8/t to $111.75/t CFR North China amid new output restrictions, following the drop in its futures on the DCE (-$3.7/t). Due to the deteriorating climatic conditions, Chinese mills impose restrictions not only on production, but also on transportation. Against the backdrop of these limits, the demand for seaborne trade has grown recently. Actually, Chinese buyers booked 430,000 t of iron ore fines on trading platforms on October 28. READ MORE... 28 October 2021 Unstable market prices Turkey. At the very end of October the sentiment became negative in the Turkish import scrap market. The fresh deal with an exporter from Benelux was heard at $485/t CFR Marmara for 25,000 t of HMS 1&2 (75:25). Actually, the transaction is for late November shipment. Due to the lowered price level, the daily price estimation for HMS 1&2 (80:20) from the US decreased to $504/t CFR Turkey. Still, the nearest forecast is unpredictable as the finished steel segment can either grow or fall next week. Iran. In October Iranian HBI is in high demand in China. After a silent period in the global market Persian Gulf Saba Steel sold 70,000 t of HBI last week. The price for the material was at $402.6/t FOB China in the recent contract. Iron ore price went down on Wednesday amid plunging steel tags which as for now are the main cause of reduction. Asia. Tokyo Steel has raised its purchase price for HMS 2 by $13/t for the eighth time in last month. The actual price level is at to $495.2/t. Kovdor GOK will reduce exports this month because of high demand in the domestic market. The company will export in October 23% less than in September. Thus, sales to the local mills will improve by 69%. In the meantime, Australian iron ore fines 62% Fe dropped to $119.75/t CFR North China, while its futures on the DCE waned as well. As the consequence of new regulations by NDRC, coal futures lost at around $39/t on the DCE. Rebar futures decreased by $41/t, while Tangshan billet fell by $9.4/t. READ MORE... 27 October 2021 Demand for scrap is rising Turkey. Turkey purchases scrap metal from the US exporters. A mixed batch from the US that included 20,000 t of HMS 1&2 (90:10) and 20,000 t of HMS 1&2 (80:20) was sold at price of $513/t CFR to the mill from Marmara region. Another company from Iskenderun region booked a lot from the US with HMS 1&2 (80:20) priced at $510/t CFR and shredded material priced at $530/t CFR. Actually, the daily price level for HMS 1&2 (80:20) from the US did not change over the day (staying at around $505/t CFR Turkey) amid the silence in the market. Turkish local scrap prices kept rising on October 26. Evidently, it was caused by US dollar strengthening as well as national currency fluctuations. In average, the price for domestic ferrous scrap increased by $13-16/t. UAE. The Gulf Cooperation Council took a look back on the past period from January to September 2021. Crude steel output has relatively dropped amid poor sentiment in the UAE during last months as there were not enough projects which unfortunately paired with excessed capacity in the long segment. The construction activity went down by 2% this year in Dubai. The steel volume in the UAE has subsided by 82,000 t. Nevertheless, these days most of the producers are interested in export directions, trying to open new possibilities for the business. Meanwhile Australian iron ore fines 62% Fe jumped by $3.5/t to $122/t CFR due to the better demand in China this week. Its futures on the DCE also took a step up of $1.8/t in January contracts. READ MORE... 26 October 2021 Silent scrap market in Turkey Turkey. Import scrap market is silent at the beginning of the last week of October. Prices are unchanged due to the unwillingness of the buyers to purchase new material. Mills have already bought enough scrap for November shipments. As for now, the daily price level for HMS 1&2 (80:20) from the US is at around $505/t CFR Turkey. However, some exporters from the Baltic region hope that the price will increase to $510/t CFR for HMS 1&2 (80:20) in the nearest future. A new week in Turkey started with raising prices for ferrous scrap because of the depreciation of the Turkish lira compared to the US dollar. On October 23-25, about four Turkish producers set their purchase prices by around $10-32/t to compensate lira dropping. Asia. China is planning to reach the carbon neutrality by 2060. The government is considering to gain the share of non-fossil energy use to more than 80% by 2060. Country will pay the highest attention to control a number of industries, including coal power and steel. Russia. An upward movement of scrap price initiated by NLMK caused the counter-moves of all companies in the Federal regions. A3 is currently tagged at $347-361/t in the Federal District, while the same grade delivered by railway in the south of the country is estimated at $352-356/t. In the Ural region, A3 is quoted at $369-372/t. Last week Australian iron ore fines 62% Fe dropped to $118/t CFR North China. Its futures have fallen down as well. The seaborne market is still low. Nevertheless, 170,000 t of iron ore futures were booked on trading platforms versus 90,000 t booked on Friday,22. READ MORE... 22 October 2021 Scrap prices have continued ticking up Turkey. Turkish steelmakers keep purchasing import scrap. There were deals disclosed on Thursday from Venezuelan and the USA exporters. On October 20 the price assessment for HMS 1&2 (80:20) from the US East Coast has moved to $505/t CFR Turkey. Iran. Problems with power outages in Iran in summer that negatively impacted the production process had almost no effect on the overseas shipments. Direct Reduced Iron (DRI) export supplies increased. Overseas sales surged by 286.8% y-o-y to 673,000 t. Such huge growth can be explained by cancellations of limitations against exporters and last electricity problems, which made mills sell DRI and raw materials instead of downstream products. CIS. Russia. Russian Metalloinvest plans to construct the world's biggest hot-briquetted iron (HBI) plant, to help speed up the transition to green steel production and will produce 2.08 million t of HBI per year. In the meantime, on October 21 the raw material assessments were: Australian iron ore 62% Fe had significant lost by $6.95 and priced at $117.50/t CFR North China. Coking Coal, premium low vol. Index was $399.00/t FOB Australia and $615.25/t CFR China. HBI Index quoted at $265.00/t Venezuela export. READ MORE... 21 October 2021 Import ferrous scrap prices move up Turkey. Turkish steelmakers resumed import scrap deals on Wednesday at higher levels. Exporters from Europe managed to fix another price increase for scrap cargoes for December shipments. According to some assessments, ferrous scrap HMS 1&2 (80:20) from the US East Coast reached $502/t CFR Turkey on October 20. Japan. Japanese steel producer Tokyo Steel zooms up the ferrous scrap purchase price again. Starting October 21, the price level for HMS 2 varies within $454.1-497.8/t at all assets. Brazil. Brazilian miner Vale begun to slow down output of iron ore due to lower prices, and could cut its production next year unless price level improve. However, in the third quarter Vale’s iron ore production demonstrated noticeable changes and jumped 18% on quarter to 89.4 million t. In the meantime, on October 20 the raw material assessments were: Australian iron ore 62% Fe priced at $124.45/t CFR North China. Coking Coal, premium low vol. Index was $399.00/t FOB Australia and $613.50/t CFR China. HBI Index quoted at $265.00/t Venezuela export. READ MORE... 20 October 2021 Some silence, no significant shifts Turkey. Turkish import scrap prices were stable on Tuesday as Turkish mills paused scrap purchases to evaluate the situation in the market. According to some assessments, ferrous scrap HMS 1&2 (80:20) quoted at around $495.00/t CFR Turkey based on the deals with European suppliers. Asia. Iron ore continued to go down slowly on Tuesday. Among the factors impacted the prices were both low steel output in China and supply reduction from major producers. Australian iron ore 62% Fe came to $123.50/t CFR China. In the meantime, Anglo-Australian multinational mining BHP Group announced a decrease of iron ore and coking coal production in the first quarter for the financial year 2022 mainly due to the maintenance works at some of its assets, including those at the Jimblebar iron ore mine. Iron ore production for the first quarter declined about 6% to 62.3 million tonnes from last year, mainly reflecting higher planned maintenance during the quarter. On October 19 the raw material assessments were: Coking Coal, premium low vol. Index had tagged at $399.00/t FOB Australia and $613.50/t CFR China. HBI Index priced at $265.00/t Venezuela export. READ MORE... 19 October 2021 Import prices for ferrous scrap are strong Turkey. At the beginning of the new week, the Turkish import scrap prices have continued to rise. Baltic scrap booked in Turkey at higher prices. As a result, on October 18, ferrous scrap HMS 1&2 (80:20) from the US East Coast was priced at 496.00/t CFR Turkey. China. China intends to increase domestic coal production by 55 million t. According to local media sources, from the total 976 coal mines under inspection, 153 can increase annual supply by about 220 million t or by 55 million t in the last quarter of this year. In the meantime, on October 18 the raw material assessments were: Australian iron ore 62% Fe Index fluctuated continuously and quoted at 124.15/t CFR China. Coking Coal, premium low vol. Index had tagged at $399.00/t FOB Australia and $613.50/t CFR China. HBI Index remained at $265.00/t Venezuela export. READ MORE... 18 October 2021 Ferrous scrap is going up, coking coal is stable Turkey. Multiple deals of ferrous scrap at higher levels were concluded in the Turkish market with US, European, and Baltic exporters. Considering the latest assessments, HMS 1&2 (80:20) from the US East Coast has moved to $492/t CFR on October 15 versus $480/t CFR two days ago. In the meantime, domestic scrap prices went up in Turkey, following import ones. Asia. Australian coking coal export prices were stable amid low trading activity on the one hand and limited offers on the other. Offers for premium coking coal from Australia remained at last week’s level of $403‑405/t FOB for November‑December laycan. In the meantime, on October 15 the raw material assessments were: Australian iron ore 62% Fe Index tagged at 125.45/t CFR China. HBI Index was still at $265.00/t Venezuela export. READ MORE... 15 October 2021 Ferrous scrap is expected to reach its high level Turkey. On October 14 Turkish import ferrous scrap prices continued to soar. Meanwhile, both buyers and sellers expecting prices to reach $500/t CFR in the near-term period. Imports of HMS 1&2 (80:20) surged to 490.00/t CFR Turkey and reached the highest level since July 12, when the index tagged at $492.50/t CFR Turkey. Asia. On October 14 Australian iron ore 62% Fe Index raised slightly to $126.00/t CFR North China (+$2.40/t from October 13) on continued buying interest in the market. Chinese restocking came back stronger on the day as prices were deemed favorable. CIS. Russia. Russia and India have signed a memorandum of understanding for the increase the supply to India of coking coal to 40 million t/year. At present, Russia exports 8 million t/year of all types of coal to India. In the meantime, on October 14 the raw material assessments are: Coking Coal, premium low vol. Index had some fluctuations and quoted at $401.25/t FOB Australia and $613.00/t CFR China. HBI Index was still at $265.00/t Venezuela export. READ MORE... 14 October 2021 Scrap prices continue to move up, iron ore drops again Turkey. Prices of import scrap to Turkey reached more than a two-month high. In the last period scrap exporters have achieved large price increase due to higher demand from Turkish importers. According to some assessments HMS 1&2 (80:20) from the US East Coast has moved to $480/t CFR Turkey on October 13 versus $463/t CFR a day ago. Asia. Iron ore prices dropped again on Wednesday amid ongoing steel plunge and negative import data. Australian iron ore 62% Fe Index lost another $4.90 over the previous day and quoted $123.60/t CFR North China. Numerous output restrictions imposed on steelmakers in China seriously impacted the raw material demand. Some official data shows that iron ore imports to China fell by 1.9% month-on-month and 11.9% year-on-year to 95.61 million t in September. In the meantime, on October 13 the raw material assessments are: Coking Coal, premium low vol. Index had some fluctuations and tagged at $401.00/t FOB Australia and $612.00/t CFR China. Ferrous scrap HMS 1&2 (80:20) surged to 480.25/t CFR Turkey (+$12.75 in one day). HBI Index was still at $265.00/t Venezuela export. READ MORE... 13 October 2021 Iron ore dropped, no deepsea scrap contracts Turkey. No new import deepsea scrap contracts were reported in Turkey on Tuesday, 12 October, however exporters trying to keep high price offers. In the meantime, import prices for short-sea scrap cargoes to Turkey have risen by around $15/t since late September. One of the Romanian suppliers was heard to sell HMS 1&2 (80:20) at $453/t CFR Turkey. Meanwhile, on October 12 price assessment for HMS 1&2 (80:20) from the US East Coast stood at $463/t CFR Turkey. Asia. Malaysian Lion Industries is selling its stake in Antara Steel Mills hot-briquetted iron (HBI) plant located in Labuan to Singapore’s Esteel Enterprise. The price of proposed deal is estimated at $122 million and would enable the Lion Industries to increase funds and focus on recovering of its flat steel business. Australia. Iron ore dropped on Tuesday amid trading activity slowdown, lack of data for steel output, and strong decrease of steel tags. Australian iron ore 62% Fe Index lost $8.45 and quoted $128.50/t CFR North China after its futures on the DCE lost $4.3/t on daily basis. In the meantime, on October 12 the raw material assessments are: Coking Coal, premium low vol. Index still had some changes over the previous day and tagged at $401.00/t FOB Australia and $609.50/t CFR China. HBI Index still remained at $265.00/t Venezuela export. READ MORE... 12 October 2021 Scrap prices fluctuate amid a good demand Europe. Benelux scrap exporters raise their export prices in the Turkish scrap market amid US and Baltic scrap suppliers’ active campaign, high scrap quotes and good demand from Turkish mills. At the end of the last week, a Benelux scrap exporter sold a 40,000 t mixed scrap lot to Turkey, in which HMS 1&2 (80:20) was tagged at around $450/t CFR. According to some assessments HMS 1&2 (75:25) and HMS 1&2 (80:20) are quoted at $415/t FOB Rotterdam and $420/t FOB Rotterdam, respectively. In the meantime, scrap prices in Russia demonstrate temporary stabilization. In early October steelmakers on the Russian steel scrap market took a pause to assess the purchase dynamics after price decline in September. In the Central Federal District, A3 scrap is quoted at $332-343/t, in the Southern Federal District the same material is quoted at $329-338/t and offers of A3 in the Ural Federal District remain at around $340-351/t (20% VAT exclusive, FCA collector). On October 11 the raw material assessments are: Australian iron ore 62% Fe Index changed by $11.90and reached to $136.95/t CFR North China. Coking Coal, premium low vol. Index demonstrated some changes over the previous day and was traded at $401.00/t FOB Australia and $605.00/t CFR China. Ferrous scrap HMS 1&2 (80:20) went up by $5.50/t to 463.00/t CFR Turkey. HBI Index still remains at $265.00/t Venezuela export. READ MORE... 11 October 2021 Scrap prices are going high India. Indian shredded scrap import prices rose to a record high level throughout the last week, along with Indian mills made several deals. Indian imports of shredded scrap were estimated at $532.50/t CFR Nhava Sheva, up $17.50/t on week, and up slightly from the previous high of $530/t CFR Nhava Sheva over 9-16 of July. It is considered that the strong demand for import scrap is because Indian DRI (direct-reduced iron) and coking coal prices are up and the market is coming into the peak season for Indian steelmaking. In general, the strong demand for import scrap is caused by that Indian DRI (direct-reduced iron) and coking coal prices are up and the market is coming into the peak level for Indian steelmaking. Vietnam. Vietnam witnessed a sharp rise in import scrap prices this week. Offers for Japanese H2 scrap increased by $20-25/t week-on-week, ranging at $520-530/t CFR Vietnam. Price offers for higher grades of scrap such as shindachi and busheling from Japan were coming at around $640/t CFR Vietnam. Australia. Australian exporters of premium hard coking coal have increased their offer prices, citing limited volumes for export by $13/t on average to $403-405/t FOB for November-December laycan. However, no contracts were signed this week as customers continued to wait amid high prices. In the meantime, on October 8 the raw material assessments were: Australian iron ore 62% Fe Index changed by $7.25 and reached to $125.05/t CFR North China. Coking Coal, premium low vol. Index remained at $396.00/t FOB Australia, $605.00/t CFR China. Ferrous scrap HMS 1&2 (80:20) went up by $2.50/t to 457.50/t CFR Turkey. HBI Index was $265.00/t Venezuela export. READ MORE... 08 October 2021 New deals of import scrap, coking coal imports fall Turkey. The scrap import market is continuing to strengthen in Turkey. Several Turkish steelmakers closed deals from the Baltic region, Venezuela, and Europe at higher levels. It is expected that Turkish mills continue scrap purchases for November shipment in the coming days. Pakistan. Import scrap prices rose up in Pakistan this week amid the higher levels achieved in Turkey and stronger local steel market. On October 6, a mixed cargo (the UK- and the EU-origins) of 5,000 t of shredded scrap was booked at $535/t CFR Pakistan. Another 2,000 t batch of shredded was sold by a UK supplier by $530/t CFR on Wednesday. Most prices for the UK- and the EU-origin shredded scrap were recently seen at a price of $515-520/t CFR. The main purchasing driver is better demand for finished steel in the country. India. Indian coking coal imports continued to go down in September on the continued rise in material prices and limited supply from Australia. According to some assessments, the volume of coking coal handled by major state-run ports lost 26% month-on-month and 22% year-on-year, coming to 3.2 million t. The coking coal prices are going higher and added 54% over a month and 67% over the past two months in September. CIS. Russian Kovdor GOK, which belongs to Eurochem, increased the iron ore export by 10% month-on-month, to 378,000 t in September. The whole volume was shipped to China via the Murmansk port. In the meantime, on October 7 the raw material assessments are: Australian iron ore 62% Fe Index still remains at $117.80/t CFR North China. Coking Coal, premium low vol. Index is $396.00/t FOB Australia, $604.00/t CFR China. Ferrous scrap HMS 1&2 (80:20) went up by $5/t to 455.00/t CFR Turkey. HBI Index is $265.00/t Venezuela export. READ MORE... 07 October 2021 Demand for scrap stays strong Turkey. Demand for import ferrous scrap stays strong from Turkish mills, resulting in a general rise in the price level for import scrap. A Marmara‑based mill bought 22,000 t of HMS 1&2 (80:20) at $448/t CFR and 8,000 t of shredded material at $463/t CFR from a US scrap supplier. For now, the price for American HMS 1&2 (80:20) increased by $5-6/t, in comparison to the same previous deals made in the end of September. The further price increase is expected and exporters benefit from good buying activity seen from Turkish producers. In addition, an Iskenderun‑based mill booked a mixed batch of HMS 1&2 (80:20) at a price of $444/t CFR, bonus material at $459/t CFR and rails at $464/t CFR from one of the Latvian exporters. Asia. The rating agency Moody’s Investors Service predicts iron ore to drop to $70-80/t CFR after 2022, based on its medium‑term iron ore price forecast. It states that the commodity will fall further on easing market balance. The benchmark iron ore spot price was $116/t CFR on September 30, it has slumped by 51% from $237/t CFR was seen on May 12. In the meantime, on October 6 the raw material assessments are: Australian iron ore 62% Fe Index still remains at $117.80/t CFR North China. Coking Coal, premium low vol. Index is $396.00/t FOB Australia, $604.00/t CFR China. READ MORE... 06 October 2021 Scrap market has minor price fluctuations, coking coal prices has grown Turkey. Suppliers are setting their price level in Turkey’s imported scrap market. For now, price assessment for HMS 1&2 (80:20) from the US East Coast remained at $443/t CFR Turkey. However, scrap mixed price dynamic continued in the Turkish import scrap market throughout September fluctuating within $433.5-440/t CFR for HMS 1&2 (80:20). Asia. Japan. Tokyo Steel, the largest steel producer in Japan, is pushing its ferrous scrap purchase price higher at all of its assets again. The company tries to adjust its price policy to secure needed volumes in the local market, increasing HMS 2 price by $18/t for inland arrival at Tahara and Utsunomiya assets, whereas those at other works added $9/t regardless of shipment way. The new prices are valid beginning from October 6. Australia. A new Australian iron ore exporter Fe Ltd has completed its first shipment of high-grade iron ore lumps of 60,500 t from JWD project on October 2 with a delivery to one of the steel mill in SE Asia. Resources of JWD project are estimated at 10.7 million t of direct-shipping high-grade iron ore with an average Fe content of 63.7%. About 65% of the volume is lump ore and another 35% is iron ore fines. CIS. Russia. Coking coal prices have increased in Russia. GZh rank tags have grown by $92.5/t to $345-350/t CFR China and those for K rank by $150/t to $490-500/t CFR China. Such price growth is supported by some factors including active global demand and logistics issues. In the meantime, Australian iron ore 62% Fe Index still remains at $117.80/t CFR North China on October 5. READ MORE... 05 October 2021 Scrap price made a little step up Turkey. As we can see from the current situation in the market – mills began to restock for November shipments. That means the price trend will be clear in the nearest future. In the most recent deals, HMS 1&2 (80:20) was traded at $440/t CFR Iskenderun (the transaction from the continental Europe), at $443/t CFR Izmir (from the US). Still, there is a slight chance that prices will dive. As for now, HMS 1&2 (80:20) from the US is estimated at $443/t CFR Turkey, adding $3/t over the day due to the healthy demand and positive sentiment. In the meantime, Australian iron ore 62% Fe Index went up by $0.8/t to $117.80/t CFR North China on October 4. READ MORE... 04 October 2021 Upturn in the scrap market Turkey. Last week ended on a positive note. The fresh deal with supplier from the US for November shipment revitalized import scrap market. Actually, HMS 1&2 (80:20), shredded scrap and bonus grade were purchased at $443/t CFR Izmir, $458/t CFR Izmir and $458/t CFR Izmir respectively. In the train of transaction, many suppliers also raised their bids as they count on further positive corrections. Also, HMS 1&2 (80:20) from Finland was traded at $434/t CFR Marmara at the end of last week. Due to the latest news from the finished steel segment, price level for HMS 1&2 (80:20) from the US is estimated at around $440/t CFR Turkey at the very beginning of October. Australian iron ore 62% Fe Index went to $117/t CFR North China on October 1 amid the start of the holidays as well as concerns on demand after the 7th of October. READ MORE... 01 October 2021 Unexpected wave of scrap procurement Turkey. The word got round that some mills began to restock for November shipments. Actually, a mixed lot from continental Europe was traded to an Iskenderun-based producer. The average price of the transactions was estimated at $442/t CFR Iskenderun, while HMS 1&2 (80:20) was priced at $434.5/t CFR Iskenderun. A deal from St. Petersburg was also disclosed to the import scrap market. HMS 1&2 (80:20) changed hands at $435/t CFR Iskenderun earlier this week. Another deal was closed with a supplier from the Baltic region – HMS 1&2 (80:20) was purchased at $430/t CFR Marmara. As the sentiment in the segment got better and demand recovered, insiders expect prices to jump a bit in the next possible deals. As for now, the price level for HMS 1&2 (80:20) stays at $438/t CFR Turkey. Australian iron ore 62% Fe Index increased by $3.45/t to $118.25/t CFR North China just before the holidays. In the meantime, its futures on the DCE went up by $4.2/t in January contracts. READ MORE... 30 September 2021 Stability caused by silence Turkey. The daily price estimation for HMS 1&2 (80:20) does not move at the very end of September, being at $438/t CFR Turkey. Nobody can predict the future of the market as prices in the most recent transactions vary. Insiders hope that both sellers and buyers will come to an agreement regarding pricing policy in the future transactions as mills will have to start procurement for November shipments soon. In the meantime, local scrap market has caught the wave of price upturn. Some producers raised purchase price for the domestic material by $5-32/t over past four days. However, the surge was triggered not by the better demand but by the strengthened US dollar. Australian iron ore fines 62% Fe Index went up by $2.45/t to $114.80/t CFR North China on September 29, following the same move in its futures on the DCE in January contracts. The raw material segment leaves a lot to be desired these weeks. The main reason for the weak market is that China enhanced restrictions regarding steel output and the permitted level of emissions. READ MORE... 29 September 2021 Sort of stability in the market Turkey. This week is not as silent as it was predicted. Still, the price level did not make any considerable changes. The daily price estimation for HMS 1&2 (80:20) remains the same – at $438/t CFR Turkey on September 29. Lately, a batch from Venezuela that was consisted of the solo grade – HMS 1&2 (80:20) was purchased at $434/t CFR Izmir. Another deal was also disclosed recently – HMS 1&2 (80:20) from Europe was sold at around $425-427/t CFR Marmara. Insiders suppose there will be no dramatic corrections in the nearest future. Australian iron ore fines 62% Fe Index dropped to $112.35/t CFR North China on September 28 amid weaker demand, forthcoming holidays and continuing output restrictions in many provinces. Its futures on the DCE went down by $3.9/t in January contracts. READ MORE... 28 September 2021 Price got higher amid fresh transaction Turkey. Import scrap market surprised the majority of the players with fresh deals closed at the very beginning of the week. In most cases, Mondays are silent. However, it was reported that a mixed batch from the Baltic region was traded at the average price of $449.5/t CFR Karadeniz on Monday, 27. HMS 1&2 (80:20) was estimated at $442/t CFR Karadeniz. The price was reasoned by the good quality of the material. In comparison, HMS 1&2 (80:20) was traded at $433/t CFR Iskenderun last week. Due to the most recent deal, the price level for HMS 1&2 (80:20) jumped to $438/t CFR Turkey. Russia. Prices for A3 material went down in all regions of the country and . In the Central District A3 is tagged at $333-348/t. Meanwhile, the same material in the south of Russia is quoted at $334-341/t. A3 in the Ural Federal District is priced at around $345-349/t. Australian iron ore fines 62% Fe went up to $118.5/t CFR North China. Its futures on the DCE also added a few points to the nominal price - +$2.5/t in January contracts. The upturn happened amid better trade as well as healthier demand and firm price level of the steel. Rebar futures gained $14.8/t, while Tangshan billet increased by $3.1/t. READ MORE... 27 September 2021 Some more deals disclosed Turkey. Some fresh deals were disclosed in the import scrap market at the end of last week. A mill from Karadeniz region bought a mixed lot from Estonian supplier at the average price of $441.5/t CFR Karadeniz. In that transaction HMS 1&2 (80:20) was estimated at $434/t CFR Karadeniz. Another seller from the Baltic region traded HMS 1&2 (80:20) at $433/t CFR Marmara. Considering the latest deals, the price level for HMS 1&2 (80:20) went down to $433-434/t CFR Turkey. Australian iron ore fines 62% Fe went to $110/t CFR North China, following its futures on the DCE upturn of +$2.7/t in January contracts. READ MORE... 24 September 2021 Time to plan further procurement Turkey. The import scrap market stays calm at the end of the week with no fresh deals for the last several days. The main reason for the quiet period is that the majority of the mills have already restocked for October shipments. Of course, the stiffened US dollar supplements matters. Needless to say, buyers hope for negative corrections in the future possible deals. As for now, nominal price for HMS 1&2 (80:20) from the US, Europe and the Baltic region is at around $435-440/t CFR Turkey depending on the quality of the material and its origin. Insiders do not expect any sharp changes in the price level soon. Although, any case scenario could happen next week. Australian iron ore fines 62% Fe moved up to $108/t CFR North China over the day amid good demand right before a weeklong holidays starting from October 1st. Due to the number of sales, the sentiment went up in the raw material market, supporting the iron ore price. READ MORE... 23 September 2021 Silence captured the market Turkey. Insiders suppose this week will be silent due to the unwillingness of sellers to make a discount. On the other hand, producers also do not hurry to accept current levels as they have time to wait and see. All in all, the import scrap market had healthy demand for the last 2 weeks. The price estimation for HMS 1&2 (80:20) remains at $440/t CFR Turkey. Europe. Last week there were no fresh deals heard in the European market. Suppliers from Benelux were inactive, while the ones from the Baltic region as well as from the US sold the material at around $438/t CFR Turkey. In the meantime, HMS 1&2 (80:20) from Benelux is estimated at $433-435/t CFR. As for the British finished steel segment – the situation is mostly stable with dockside prices unchanged because of the slow business activity. Australian iron ore fines 62% Fe Index jumped up to $107.55/t CFR North China, while its futures on the DCE added $6/t in January contracts. READ MORE... 22 September 2021 A pause in the procurement Turkey. The majority of the mills have restocked for October shipments. Thus, the import scrap market has time to overthink last transactions and to set out further prospects of procurement. Despite the availability of material in the segment, prices can not jump as high as wished by the sellers. Price level also do not dive because of the healthy sentiment. Taking into account the current lull – price estimation for HMS 1&2 (80:20) from the US stays at $440/t CFR Turkey. Asia. Japanese HMS 2 was pushed up by $4.6-18.2/t (depending on the work) by Tokyo Steel on September 22. The price is at around $446.9-474.2/t at three of the southern assets. The northern work of Utsunomiya keep the purchase price unchanged – at $428.6/t. Australian iron ore fines 62% Fe Index stays at $94/t CFR North China amid silent market. The future of the segment can unfold in different ways. Anyway, China’s restrictions will not ease in the nearest future which means the price will be affected by output cut for a while. READ MORE... 21 September 2021 Scrap stable, though iron ore nosedove Turkey. Considering the silence at the beginning of the week, the daily price estimation for HMS 1&2 (80:20) stays at the same level – at around $440/t CFR Turkey. The most recent deals were closed at the end of last week – a mixed lot from St. Petersburg, including HMS 1&2 (80:20) and bonus grade, was traded at the average price of $437.5/t CFR Marmara. HMS 1&2 (80:20) was estimated at $430/t CFR Marmara. Australian iron ore fines 62% Fe continued to nosedive on September 20 – the price went down to $94/t CFR North China amid weak fundamentals and production cuts in China. Iron ore fines lost $139/t CFR over the last 4,5 months. The price is highly affected by emission restrictions in China as well as negative sentiment. Insiders expect further diving of the price. READ MORE... 20 September 2021 More deals from the last week Turkey. After taking a short break from the active procurement, mills began to buy the material again. At the very end of last week a mill from the Iskenderun region purchased a mixed lot from the Baltic region at the average price of $446.5/t CFR Iskenderun. It is known for sure that HMS 1&2 (80:20) was priced at $439/t CFR Iskenderun in that transaction. Considering the above, price estimation for HMS 1&2 (80:20) from the US stays at the same level. Asia. It is safe to say that Asian finished steel segment is mostly all the same. Actually, demand in the South Korea leaves a lot to be desired. Nominal prices for Russian A3 is currently at $485-490/t CFR South Korea, while HMS 1 from the US is at $495-500/t CFR South Korea. Japanese HMS 2 is tagged at $434/t CFR South Korea. Meanwhile, business activity slowed down in Pakistan as well. Anyway, there were some small fresh deals heard in the market. Shredded scrap from the UK was sold at $525/t CFR Pakistan. Offers for shredded scrap in containers from Europe are at around $523-525/t CFR Pakistan, which means that they added $5/t CFR over last 10 days. The price went up on increased level of freight and limited availability of containers. Australian iron ore fines 62% Fe decreased to $101/t CFR North China amid new restrictions of the China’s government. This lead to active booking on trading platforms as many buyers were willing to purchase at such price level. It is reported that 790 000 t of fines were booked at the end of last week after the new plunge. READ MORE... 17 September 2021 A pause in the procurement Turkey. After some of the mills have restocked for October shipments, the business activity slowed down again. Buyers took a pause to look at the market condition. In the meantime, exporters hope for the positive corrections as the freight level has significantly increased lately and domestic prices were jacked up as well. As for now, the price estimation for HMS 1&2 (80:20) remains at $440/t CFR Turkey. Asia. Asian finished steel segment has improved this week due to the number of closed deals in the Turkey. Offers for containerized HMS 1&2 (80:20) from the US are heard at $465/t CFR Taiwan this week. Actually, the material was bought at $460/t CFR in the mid-September. Japanese H1 is tagged at $495/t CFR Taiwan. Meanwhile, Japanese H2 was bought at $485/t CFR Vietnam. HMS 1&2 (80:20) from Hong Kong is quoted at better terms than a week ago – at around $485/t CFR Vietnam (+$10/t over the week). Australian iron ore fines 62% Fe went down to $107.5/t CFR North China amid negative sentiment and slack demand. Its futures on the DCE lost $3.4/t in January contracts over the day. READ MORE... 16 September 2021 A little step towards the bright future Turkey. More or less the price level is stable in the recent deals. Material of better quality is purchased at higher levels, while it works the same way vice versa. A batch with a mix of grades from the US was bought by a mill from Marmara region at the average price of $451.5/t CFR Marmara. HMS 1&2 (80:20) was estimated at $441.5/t CFR Marmara in that deal, shredded scrap and bonus grade – at $456.5/t CFR Marmara. A fresh transaction was made between Venezuelan exporter and Izmir producer. HMS 1&2 (80:20) was traded at $436.5/t CFR Izmir. Taking into consideration the latest deals, price estimation for HMS 1&2 (80:20) from the US went up to $440-441/t CFR Turkey in the mid-September. Europe. The sentiment in the finished steel segment in the southern Europe got a little worse amid sluggish demand. Prices for Italian scrap went down with one exception of E8 (priced at EUR 445-460/t). E3 is tagged at EUR 380-390/t, while E40 is at EUR 430-445/t. Australian iron ore fine 62% Fe dropped to $116/t CFR North China amid the same reason as previously – Chinese production cut activities. Iron ore futures on the DCE lost $2.9/t in January contracts as well. Benevolent intentions of the Chinese government to reduce emissions seriously impact the price of the material. All in all, the yearly output decreased by 13.2%. Needless to say, that the plunge in the segment influence the steel market. Still, there are no specific predictions on the situation. READ MORE... 15 September 2021 Active business though prices are vague Turkey. It turned out that these days import scrap market was alive and kicking as many fresh deals were recently disclosed. A mixed lot with HMS 1&2 (80:20) and bonus grade from the Baltic region was purchased at $438/t CFR Marmara and $453/t CFR Marmara respectively. HMS 1&2 (80:20) from Sweden was sold at $439/t CFR Marmara this week also. Actually, HMS 1&2 (80:20) was sold in the mixed batch which included shredded material and bonus grade as well. The average price in this transaction is $457/t CFR Marmara. Another deal was heard - a lot of 35,000 t, including HMS 1&2 (85:15) and P&S, was traded at the average price of $449/t CFR Iskenderun. One more transaction from overseas with an exporter from the US became known yesterday. HMS 1&2 (85:15) and P&S material were purchased at $443/t CFR Iskenderun and $458/t CFR Iskenderun respectively. Despite the nu,ber of the deals and business activity these days, the price estimation for HMS 1&2 (80:20) went down to $437-438/t CFR Turkey. Asia. After a period of low prices and negative demand, Tokyo Steel announced an increase in its purchase prices for the material at some of the assests. HMS 2 added $4.5-9.1/t, being at $430-460/t depending on the work. Australian iron ore fines 62% Fe met one more step down – the price decreased to $121.25/t CFR amid extended output restrictions in China. READ MORE... 14 September 2021 Scrap price dipped amid new sale Turkey. The daily price estimation for HMS 1&2 (80:20) decreased to $440/t CFR Turkey after a fresh deal from the US was disclosed in the import scrap market. In that transaction HMS 1&2 (80:20) was priced at $436.5/t CFR Marmara. However, players do not lose courage. Most of them do believe that the finished steel segment will gain momentum in the nearest future. Russia. Export is on a pause these days in the Russian scrap market. Suppliers are not satisfied with current price levels and definitely do not agree to sell the material at these terms. A3 from St. Petersburg is priced at $442/t CFR, while the same grade from the south of Russia is tagged at $432/t CFR. A3 is estimated at around $485-490/t CFR in the eastern parts of the country. Australian iron ore fines 62% Fe went down to $123.25/t CFR, after its futures on the DCE lost $4.1/t in January contracts. The plunge was supported by the increased number of Chinese mills that have cut steel output in September 2021. READ MORE... 13 September 2021 Price gets lower from Europe Turkey. Some more fresh deals were recently disclosed to the market at the end of the second week of September. Despite the moderate activity in the finished steel segment, the price level lost $1.5/t, being assessed at $443/t CFR Turkey. Lately, a mixed lot from Belgium, including HMS 1&2 (80:20), shredded scrap and bonus grade, was sold at the average price of $436/t CFR to a mill from Marmara region. In the other deal from the Baltic region, HMS 1&2 (80:20) was estimated at $445/t CFR Marmara. A batch of different grades from Benelux was purchased at $440/t CFR Marmara. However, the details are not unveiled yet. The most obvious direction of the trend is seen in the deals ex. Europe – the price level is definitely going down. Nevertheless, there is no clarity for the other lines (the US, Baltic region). Europe. As was already mentioned above, price trend for the material from Europe is moving down in the mid-September. HMS 1&2 (80:20) from the continental Europe was traded at around $433-435/t CFR in the most recent deal. Thus, the price lost $7-9/t CFR from the previous transaction. Actually, HMS 1&2 (75:25) from Rotterdam is estimated at $390/t FOB, while HMS 1&2 (80:20) from the same region is at $395/t FOB. In the meantime, the E3 grade from Italy is at $459-471/t delivered. Australian iron ore fines 62% Fe did not move over the past few days amid speculations on slow recovery of supply from Brazil and trade cut from Australia. READ MORE... 10 September 2021 Iron ore plunged, scrap stays still Turkey. The daily price assessment for HMS 1&2 (80:20) from the US remains at $444.5/t CFR Turkey at the end of the second week of September. Still, there are no fresh deals heard in the import scrap market. Both buyers and suppliers understand that sooner or later but the material will be needed. Asia. Due to the recent transactions in the Turkish market, some Asian mills also tried to pick up momentum. This way, containerized HMS 1&2 (80:20) from the US was sold at $453/t CFR Taiwan. The same deals were heard also at $450/t CFR Taiwan. Meanwhile, offers for Japanese H1 are at $480/t CFR Taiwan. However, importers were not as active in the other regions. Bids for HMS 1&2 (50:50) from Hong Kong are at around $460/t CFR Vietnam, while the material is really offered at $475/t CFR Vietnam. Insiders suppose that many mills suffered from the lockdown and are just not ready to play at full capacity. Australian iron ore fines 62% Fe went down to $129.5/t CFR, following the same decrease in its futures on the DCE in January contracts. This price level was seen for the last time in November 2020. The main reason for such plunge is worsened sentiment and production cuts in China. Still, the price is supported by the steel. Tangshan billet added $7.7/t, while rebar futures gained $35.6/t over the day. READ MORE... 09 September 2021 Still nothing new Turkey. After a set of fresh deals was recently closed, silence seized the market again. However, some negotiations are underway. Still, the price estimation for HMS 1&2 (80:20) remains at $444.5/t CFR Turkey, waiting for the next step of the market players. And yet, insiders do not agree with each other regarding possible future of the finished steel segment. Some believe that prices will jump in the next transactions, other suppose that the level is going to wane. Australian iron ore fines 62% Fe went down to $132/t CFR, after its futures on the DCE decreased by $2.5/t in January contracts. Nevertheless, 170 000 t of iron ore fines were booked on trading platforms on September 8. The plunge happened due to the worsened restrictions in China. READ MORE... 08 September 2021 More deals for scrap Turkey. Things got better on the second week of September. Mills started the procurement for October shipments. Anyway, the daily price assessment for HMS 1&2 (80:20) stays at $444.5/t CFR Turkey despite a few fresh deals that were recently disclosed. A mixed lot from the UK, including HMS 1&2 (80:20) priced at $445/t CFR Izmir and shredded scrap priced at $453/t CFR Izmir, was traded for an October shipment. Also, HMS 1&2 (80:20) from Benelux was purchased at $435/t CFR Iskenderun. Australian iron ore fines 62% Fe jumped to $137.5/t CFR North China, following even bigger step in its futures on the DCE in September contracts (+$6.2/t) amid improved maritime trade. Even 420,000 t of iron ore fines were booked on trading platform on September 7 due to the lowered levels. READ MORE... 07 September 2021 Gradually, the trend comes out Turkey. First days of the week are mostly silent in the import scrap market. The price level for HMS 1&2 (80:20) remained at $444.5/t CFR Turkey due to the absence of fresh deals. Last week ended with a transaction from the Baltic region, where HMS 1&2 (80:20) was estimated at $445/t CFR Turkey. Asia. Despite different speculations in the finished steel market, trading activity in some parts of Asia seems to gather pace. The quotes for the shredded material from Europe gained at least $10/t during last 7 days, being at $530-535/t CFR Pakistan. What’s more, shredded scrap was recently traded at the new assessment – at $530/t CFR Pakistani. In the meantime, the same grade from the UK and Europe is offered at around $525/t CFR India. Still, Indian market is in a lull with no fresh deals amid sluggish demand. Shredded scrap in containers from the US and the UK is tagged at $540/t CFR Bangladeshi. Australian iron ore fines 62% Fe decreased to $132/t CFR North China amid worsened sentiment as well as output cut. Its futures on the DCE also went down (by $9.8/t) in January contracts. READ MORE... 06 September 2021 These are the first steps Turkey. As it was already predicted, some mills began to restock for October shipments in early September. A mixed lot of 30,000 t from St. Petersburg was purchased at the average price of $439.5/t CFR Marmara. The transaction included HMS 1&2 (80:20) priced at $432/t CFR Marmara. Also, same grade from the Baltic region was booked at $444.5/t CFR Iskenderun. HMS 1&2 (80:20) from Venezuela was traded at $444/t CFR Iskenderun. The actual difference of the price for the one and the same grade is explained by the quality of the material. Another fresh deal was disclosed recently – an Iskenderun mill bought HMS 1&2 (95:05) at $444.5/t CFR. The updated price estimation for HMS 1&2 (80:20) is at around $444.5/t CFR Turkey on September 6. As for the local Turkish scrap market, the downtrend continues with more announced slides for the domestic material (-$4-12/t). Asia. Some new contracts were signed during first days of September in South Korean market. Actually, HMS 1 from New Zealand was traded at $475/t CFR South Korea. In the meantime, the workable price for HMS 2 from Japan was at $437-446/t CFR South Korea. Price for A3 from Russia is assessed at $490/t CFR South Korea. Australian iron ore fines 62% Fe went up to $142.5/t CFR amid steel price increase, also following an upturn in its futures on the DCE in January contracts (+$1.9/t). Rebar futures added $20.1/t, while Tangshan billet gained $6.2/t on September 3. READ MORE... 03 September 2021 Silent scrap market Turkey. The first week of September ends with a silence in the Turkish import scrap market. Market participants hope that there will be more negotiations as well as fresh deals next week. As for now, price estimation for HMS 1&2 (80:20) stays at the same level – at around $447-450/t CFR Turkey on September 3. Australian iron ore fines 62% Fe hit the rock bottom of $140/t CFR, being at $139.5/t CFR on September 2. Actually, the sentiment leaves a lot to be desired amid idle market. There were no fresh deals heard on trading platforms. Due to the numerous restrictions of the production in China, the price continues to decrease. However, iron ore futures on the DCE added $1.3/t in January contracts. READ MORE... 02 September 2021 Keeping a low profile Turkey. On the second day of September the market seems to be in the same place. Yesterday there were no prompt actions taken either by sellers or by importers. Still, market insiders expect the move every moment now as mills will have to restock for October shipments. As for now, price estimation for HMS 1&2 (80:20) stays at $447-450/t CFR Turkey. Australian iron ore fines 62% Fe followed the plunge in its futures on the DCE which fell by $6.6/t over the day. Thus, the price was at $141.5/t CFR on September 01. The drop was caused by the spread of output cuts among more Chinese provinces. Meanwhile, prices for steel also went down. Tangshan billet decreased by $3.1/t, rebar futures lost $10.2/t. READ MORE... 01 September 2021 So far - no moves Turkey. The first day of autumn greeted players with nothing but silence in the market. The situation is almost the same as before. Two different approaches do not meet each other halfway. Nobody wants to bow. Still, insiders expect fresh deals for October shipments in the nearest future as many mills will have to restock. The daily price estimation for HMS 1&2 (80:20) did not change over the day. It remains at $447-450/t CFR Turkey on September 1. Australian iron ore fines 62% Fe went down to $148.5/t CFR due to the new supply reduction in the southern region of China. The price also decreased in its futures on the DCE in January contracts. In the meantime, Tangshan billet added $7.7/t, while rebar futures lost $7.1/t. READ MORE... 31 August 2021 The lull continues, hopes for early September Turkey. The price estimation is at around $447-450/t CFR Turkey for HMS 1&2 (80:20) on the last day of summer. The latest deal with the same material was heard with a European supplier last week, where HMS 1&2 (80:20) was priced at $442/t CFR Iskenderun. Market players do not expect any violent changes as both suppliers and importers are pushing their own agenda. It is clear that with current freight level and situation in the domestic market, exporters will not be ready to accept some more negative corrections. Still, mills continue to insist on discounts in negotiations. Anyway, the time moves on and sooner or later but buyers will need to restock. Insiders believe that the trend will be revealed early in September. Russia. There is no certain direction of the price trend in the Russian scrap market as some of the mills are rising or widening their tags, while others make downward adjustments. In the central region of Russia A3 material remains at the same level – at $355-362/t. In the meantime, A3 in the south of the country is estimated at $355-365/t at the end of the month. As for the price range in the Ural district, A3 is quoted at $343-354/t. Australian iron ore fines 62% Fe moved to $152.75/t CFR, following step down in its futures on the DCE in January contracts. Still, the sentiment in the market is negative. On the other hand, steel prices are certainly on the rise. Rebar futures went up by $20.4/t, while Tangshan billet added $3.1/t. READ MORE... 30 August 2021 Still nothing much about changes Turkey. Import scrap market is quiet at the beginning of the week. The last month of the summer seems to end with silence. The price estimation stays at the same level as on Friday, 27. Market participants do not expect any sharp changes. Still, everyone is expecting a certain price trend to be disclosed with fresh deals. Buyers are waiting for the level of around $440/t CFR Turkey. Russia. Despite the lull in the Turkish market, Russian suppliers are offering material at own ideas. A3 from St. Petersburg is quoted at around $450/t CFR Turkey, while the same grade from Rostov-on-Don is at $440/t CFR Turkey. Europe. After a few deals disclosed during last week, the level for HMS 1&2 (80:20) from Benelux stabilized at $445/t CFR. As for the shredded material, the price is assessed at $525-540/t CFR on August 30. In the meantime, HMS 1&2 (75:25) from Rotterdam is quoted at $402/t FOB. Australian iron ore fines 62% Fe went up to $153/t CFR, following an increase (+$3.5/t) in its futures on the DCDE in January contracts. In spite of sluggish demand, the sentiment became a little better on Friday. READ MORE... 27 August 2021 Hopes deferred on early September Turkey. As for today, it seems like nobody is willing to make the first step as nobody wants to be the trendsetter. Market participants are waiting for the fresh deals in order to understand the current level of purchase price. However, both suppliers and sellers understand, that they are looking for different corrections in possible transactions. Still, the material just has to be bought to fulfill late September and October shipments. Thus, we will be able to see the workable price in the nearest future. Price estimation for HMS 1&2 (80:20) is at $448-450/t CFR Turkey on August 27. Asia. This week, a batch from the US, including containerized HMS 1&2 (80:20), was traded at $440/t CFR Taiwan. Also, on the fourth week of August A3 material from Russia was bought at $480/t CFR South Korea. Actually, A3 is tagged at $490/t CFR South Korea on August 27. Offers for H2 from Japan are heard at $470-485/t CFR Vietnam, while HS from the same region is quoted at $585/t CFR Vietnam. Japanese HMS 2 is offered at $447-461/t CFR South Korea. Australian iron ore fines 62% Fe climbed to $150/t CFR on August 26. READ MORE... 26 August 2021 A deal on level below Turkey. The price assessment for HMS 1&2 (80:20) from the US is at $448-450/t CFR Turkey on August 26. Though, in the most recent deal with Benelux exporter the same material was traded at $446.5/t CFR Iskenderun. In that transaction of 35,000 t, which included HMS 1&2 (80:20) as well as bonus grade, the average price was estimated at around $450/t CFR Iskenderun. Market participants are waiting for the clarification of the trend next week. Australian iron ore fines 62% Fe went up by $0.85/t to $149.5/t CFR North China on August 25. Actually, 410,000 t of fines were booked on trading platforms yesterday. READ MORE... 25 August 2021 Safe but low Turkey. Import scrap market is moving sideways on August 25. Generally, moods did not change over past few days. Buyers continue to insist on negative corrections in prices. Thus, daily price estimation for HMS 1&2 (80:20) from the US is at $449-450/t CFR Turkey amid silence and negative sentiment. Russia. Prices for ferrous steel scrap are waning in the second half of the month. The market was greatly influenced by Turkish one. Suppliers are not ready to grant any discounts because of the local segment with its bearish moods as well. Quotes for A3 from St. Petersburg are heard at $450/t CFR Turkey, which matchable with $414-416/t FOB. The same grade from Rostov-on-Don is tagged at $440/t CFR Turkey. Mainly, all prices lost around $10/t over the week. A3 grade from the Russian Far East is estimated at $493-495/t CFR South Korea. Australian iron ore fines 62% Fe went up to $148.60/t CFR North China amid better expectations and after its futures on the DCE increased on August 24. Actually, Rio Tinto, Australian iron ore producer, managed to sell 340,000 t of Pilbara Blend Fines for late September shipment. READ MORE... 24 August 2021 Market being at the same place Turkey. Import scrap market remains at the same position as it was last week. There are no negotiations, demand is mostly sluggish, buyers are unwilling to buy the material at current levels, waiting for the corrections. Price estimation for HMS 1&2 (80:20) from the US stays at $450/t CFR Turkey amid silence in the segment. Russia. Something of a dutch concert took place in the domestic market. Certain companies have lowered their bids, while others decided to increase prices amid poorness of supply. A3 grade is quoted at $355-361/t in the Central region of Russia, while the same material in the Ural district is priced at $343-347/t. In the south of Russia, where some of the suppliers have raised their bids, A3 material is at $317-365/t CPT mill. Europe. After a deal with a Turkish importer just after the mid of August, market became still again. As for now, HMS 1&2 (80:20) from Benelux is quoted at $445/t CFR. Insiders believe that this is not the bottom and the price level will wane more in the future transactions. HMS 1&2 (75:25) is assessed at around $402/t FOB on August 24. Australian iron ore fines 62% Fe moved down to $140/t CFR following the decrease in its futures on the DCE in January contracts. The drop is driven by pessimistic sentiment in the segment. READ MORE... 23 August 2021 No changes in the sentiment Turkey. Last week ended in the similar vein as it had started. Price level did not change that much over past 10 days. Mainly, HMS 1&2 (80:20) from the US is quoted at $450/t CFR Turkey. In those rare deals that were recently disclosed – HMS 1&2 (80:20) came to $455/t CFR Marmara (the deal with Sweden exporter). Also, a mixed lot from the US, including HMS 1&2 (80:20), shredded material and bonus grade, was purchased by the Iskenderun-based mill at $450/t CFR, $470/t CFR and $470/t CFR respectively. Asia. Two new transactions were disclosed to the Pakistani scrap market last week. Shredded material was bought at around $535/t CFR Pakistani from Europe and the UK. Actually, demand for such grade was healthy just before the holidays. Offers for shredded scrap were heard at $530-535/t CFR Pakistani on August 18-19. The same material is tagged at $540-550/t CFR Bangladeshi, while HMS 1&2 (80:20) is quoted at $510-515/t CFR Bangladeshi. In the meantime, South Korean market was silent and stable in the mid August. Offers for HMS 2 from Japan are at $449-462/t CFR South Korea. HMS 1 from the US is quoted at $500-505/t CFR South Korea , while A3 from Russia is at $495/t CFR South Korea. Australian iron ore fines 62% Fe went up to $145.25/t CFR, following an increase in its futures on the DCE in January contracts (+$2.3/t). READ MORE... 20 August 2021 Iron ore price plunged, while scrap stays calm Turkey. There were no more deep-sea fresh deals in the import scrap market this week. Despite the silence in the segment, price level for HMS 1&2 (80:20) from the US is still at $450/t CFR Turkey on August 20. In the meantime, the same grade in the short-sea market is quoted at $420-430/t CFR Turkey. As for the local market, many mills have already gone for more negative corrections in the purchase price for domestic material. Actually, the price lost around $5-12/t in the middle of the third week of August. Asia. Prices continue to fall in the Japanese market as well. Tokyo Steel has announced decrease in its purchase price at Tahara and Takamatsu assets – by $4.6/t and $9.1/t respectively. The price level is at $442-457/t at the other works. This week negative moods prevail in the Chinese segment too. Market players are depressed with too low local prices. Australian iron ore fines 62% Fe slumped to $140/t CFR, while its futures on the DCE went down by $7.8/t in January contracts. As for now, dismal future for the price level is being predicted by the insiders. Sluggish demand and the prospects were behind the plunge that happened on August 19. READ MORE... 19 August 2021 Fresh deals on the not much favorable levels Turkey. Finally, some fresh deals were recently disclosed in the import scrap market. A supplier from Benelux sold a mixed batch of 40,000 t to a mill from Karadeniz region. HMS 1&2 (80:20) was estimated at $445/t CFR Karadeniz. One more deal was heard from the eastern coast of the Baltic region, - HMS 1&2 (80:20) was traded at $475/t CFR Izmir. The daily price estimation for HMS 1&2 (80:20) from the US stays at $450/t CFR Turkey. Australian iron ore fines 62% Fe decreased to $152/t CFR just after the drop in its futures on the DCE in January contracts (-$3.2/t). Tangshan billet waned by $9.2/t, while rebar futures fell by $31/t. READ MORE... 18 August 2021 Overpassing the bottom Turkey. Prices for HMS 1&2 (80:20) passed the new milestone of $450/t CFR, moving to $449/t CFR Turkey in the fresh deal with Venezuelan exporter. The deal for September shipment was disclosed recently in the import scrap market. Anyway, the price estimation for HMS 1&2 (80:20) from the US is considered at $450/t CFR Turkey on August 18 amid the absence of transaction with US suppliers. Europe. European finished steel segment was greatly impacted by global downtrend. In the UK HMS 1&2 (80:20) is quoted at $365-379/t delivered, while shredded material and P&S are offered at $385-400/t delivered. It implies that the drop over 2 weeks is around $27-41/t. In the Benelux scrap market situation is much the same. The price estimation for HMS 1&2 (80:20) is at around $445/t CFR. Insiders suppose that the current level will not last long and prices will wane more in the nearest future. Australian iron ore fines 62% Fe fell to $159/t CFR amid steel output cut and after the same decrease in its futures on the DCE. Actually, only 80,000 t of mid-grade fines were booked on trading platform on August 17. READ MORE... 17 August 2021 The slide goes on Turkey. Turkish mills have little by little pursued their downward trend agenda. A mixed batch from the Baltic region was traded at the average price of $473/t CFR Izmir. HMS 1&2 (80:20) was estimated at $455/t CFR Izmir in that transaction. Thus, the daily price level for HMS 1&2 (80:20) from the US went down to $455/t CFR Turkey on August 17, losing around $10/t over one week. Some more negative corrections were noticed in the domestic Turkish scrap market in the middle of August. Global downtrend influence the local trade, pushing prices for the material. Currency fluctuations also have a certain impact on the price level. Asia. Vietnamese import scrap market is also suffering from downgoing prices as well as from lockdown and covid-19 restrictions. Offers for H2 from Japan were heard at $472-475/t CFR Vietnam, while HMS 1&2 (50:50) from Hong Kong is quoted at $475/t CFR Vietnam. Australian iron ore fines 62% Fe went up to $161.5/t CFR, following an increase of $1.4/t in its futures on the DCE. Meanwhile, in the light of moderate manufacturing output rebar futures dropped by $23.8/t, while Tangshan billet lost $7.7/t over the weekend. READ MORE... 16 August 2021 Prices down in the mid August Turkey. Prices went down in the import scrap market amid sluggish demand. HMS 1&2 (80:20) from the US is quoted at $459-460/t CFR Turkey on August 16. Buyers continue to insist on negative corrections, while suppliers do not accept such levels. Some insiders suppose that downtrend took up the segment for a while. Asia. Most of the mills in the South Korea were subject to global barrage of silence. National holidays in Japan also influenced the market. Japanese HMS 2 is estimated at $412-422/t FOB (or $445-455/t CFR South Korea). A3 from Russia is quoted at $495/t CFR South Korea, while HMS 1 from the US did not change over the week. Price level also decreased in the Chinese import scrap market. HRS 101 (Chinese grade for P&S) from the Japan is estimated at $590-600/t CFR. In the domestic scrap market prices also waned by $12/t for HS. Russia. Price levels decreased by $3-4/t for A3 material. Actually, A3 from Rostov-on-Don is quoted at $450/t CFR Turkey, while the same grade from St. Petersburg is at around $460/t CFR Turkey. Australian iron ore fines 62% Fe stopped at $161/t CFR amid stable futures in the middle of August. READ MORE... 13 August 2021 Future of the market is unclear Turkey. It is expected to be the real bottom of the market. Still, we may see it going deeper down. On the other side, it may also kick off after touching its lowest levels. Anyway, all speculations can work but we will see the trend only next week. As for now, the daily assessment for HMS 1&2 (80:20) from the US waned to $460/t CFR Turkey amid silence and negative sentiment. Europe. Quotes for the material decreased in the European market as well. As August is expected to be the holiday-month, suppliers tend not to rush and wait for the next steps in the global finished steel field. Generally, prices went down amid the lull – the average loss is about EUR 10-40/t. Australian iron ore fines 62% Fe went down to $161/t CFR due to the weak market, pessimistic moods and recently tightened output in Tangshan. In the meantime, iron ore futures on the DCE went down by $5.2/t in September contracts. READ MORE... 12 August 2021 Still market Turkey. Import scrap market is still as a mouse in the mid of August. Buyers are well aware of the supplier’s need to sell the material as well as they do understand that there are plenty of offers now. Thus, the price is definitely under the pressure. On the other hand, exporters realize that sooner or later but mills will have to restock. For sure, players are whipped up with the silence. As for the daily price level, HMS 1&2 (80:20) from the US is estimated at $460-461/t CFR Turkey. Australian iron ore fines 62% Fe went up to $164.75/t CFR, following its futures on the DCE increase by $2.75/t in September contracts. Only 80,000 t of iron ore fines were booked on trading platforms yesterday. READ MORE... 11 August 2021 Workable level for scrap is waning Turkey. Prices went deeper on the second week of August. Unfortunately for the suppliers, they went deeper down. Mills are trying to get more negative corrections. The workable level for HMS 1&2 (80:20) is somewhere at $450/t CFR Turkey. Still, some players hope for the best and believe that next week the trend will change. As for now, import market is mostly silent with some rare transactions heard. Australian iron ore fines 62% Fe decreased to $162/t CFR on August 10 due to the speculations on tightened production cuts. Moreover, recently raised levels of supply make the situation more complicated. READ MORE... 10 August 2021 Downtrend continues in the scrap market Turkey. Some insiders supposed that prices will begin to grow this week as it is almost mid of the month. However, nothing was done yet and only negative corrections were noticed in the fresh deals. HMS 1&2 (80:20) from the Belgium was bought at $458/t CFR Iskenderun, while the same material from the UK was heard to be traded at around $460/t CFR Marmara. The average price for the mixed batch from Denmark is at $471/t CFR Karadeniz. In the meantime, a considerable lot of 20,000 t of HMS 1&2 (80:20) from Venezuela was purchased at $460/t CFR by a mill from Izmir region. Thus, the daily price estimation for HMS 1&2 (80:20) from the US decreased to $460-461/t CFR Turkey on August 10. Russia. The price range was volatile in Russian scrap market at the beginning of August. A3 in the federal region increased to $336-355/t, while the same material in the south of Russia is quoted at the same level as last week – at $359-362/t delivered by rail and $321-377/t delivered by trucks. The material in the Ural District is offered at $347-351/t. As for now, it seems like most of the mills are trying to hold price increases to a minimum. Australian iron ore fines 62% Fe dropped to $163.25/t CFR due to the influence of imposed restrictions in Tangshan city as well as weak demand. Iron ore futures on the DCE went down by $6.6/t in September contracts as well. READ MORE... 09 August 2021 Time to think over Turkey. There is no agreement between suppliers and mills so far. Buyers are still not happy about current price levels and are waiting for negative corrections. It should be noted they have time to wait. All the procurement for August was finally done and there is time before importers will begin restocking for September shipments. As for now, price estimation for HMS 1&2 (80:20) from the US stays at $463-464/t CFR Turkey. Asia. Asian finished steel segment is not all the same. Tags for Japanese HMS 2 are lowered by Tokyo Steel to $442-445.7/t at all works. In the meantime, buyers from the South Korea are looking for prices at around $414-415/t FOB from HMS 2 from Japan. HMS 1 from the US is quoted at $500-505/t CFR South Korea, while A3 from Russia is at $490-495/t CFR South Korea. Besides, two fresh deals with Russian exporters were heard last week – about 90,000 t of A3 were traded at $495/t CFR South Korea. Buyers from Bangladesh were active last week with a fresh transaction with US. In that deal 30,000 t, including HMS 1&2 (80:20) and shredded material, were purchased at the average price of $545/t СFR Bangladesh. Australian iron ore fines 62% Fe went up to $170.75/t CFR amid better sentiment in the market and slightly recovered trade. Its futures on the DCE also increased in September contracts (by $1/t). Actually, 170,000 t of iron ore fines were booked on trading platforms at the end of last week. READ MORE... 06 August 2021 All hopes for the next week Turkey. For the last couple of days the lull in the import scrap market became intimidating. The price assessment for HMS 1&2 (80:20) from the US stays at the same level of $463-464/t CFR Turkey on August 6. Europe. Silence and sluggish demand in Turkey influence European finished steel segment. Buyers are trying to insist on some positive corrections, while importers are definitely playing with time. The majority of the players are sure that sooner or later but the level will increase. Mills are just trying to gain benefit from the current circumstances. The price estimation for E3 from Italia is at $520-525/t delivered, while E40 is quoted at $532/t delivered. All in all, tags for different grades lost around $10-40/t over last 20 days. Australian iron ore fines 62% Fe fell to $170/t CFR after its futures on the DCE decreased by $8.1/t in September contracts. The sharp drop happened amid intensified restrictions in Tangshan city. READ MORE... 05 August 2021 Some activity among current price level Turkey. Finally, some of the mills began procurement for September shipments. HMS 1&2 (80:20) from the US was traded at $464/t CFR Izmir along with shredded material at $479/t CFR Izmir and P&S at $479/t CFR Izmir. Thus the average price in that deal was at $474/t CFR Izmir. The other fresh transaction was concluded with importer from Karadeniz region, in which the average price of materials was at $463/t CFR. Despite negative moods, price estimation for HMS 1&2 (80:20) from the US did not change over the day, staying at $463-464/t CFR Turkey amid subtly expecting growth. Australian iron ore fines 62% Fe went back to $182.5/t CFR amid new portion of restrictions in Tangshan city and after its futures on the DCE moved down by $0.8/t in September contracts. READ MORE... 04 August 2021 Downtrend continues - prices are falling Turkey. After series of fresh deal in the import scrap market, the price level moved down to $463-464/t CFR Turkey for HMS 1&2 (80:20) from the US on August 4. Insiders do not anticipate any positive corrections due to the negative sentiment in the segment. However, upturn always can happen as buyers will certainly need material for September shipments in the nearest future. As for now, some more August shipments were arranged by mills from Marmara region. A mixed lot from the US, including HMS 1&2 (80:20), shredded scrap and bonus grade, was purchased at the average price of $474/t CFR Marmara. HMS 1&2 (80:20) was estimated at $464/t CFR Marmara in that transaction. The same grade from Sweden was traded also at $464/t CFR. Meanwhile, a mixed batch from the US was bought at the average price of $473/t CFR Marmara. Australian iron ore fines 62% Fe took one more step up, adding $0.75/t, to $183.5/t CFR due to the active business in the market and following the increase in its futures on the DCE (+$1.3/t) in September contracts. READ MORE... 03 August 2021 Two-way story Turkey. The price level remains at the same point – at around $467/t CFR Turkey for HMS 1&2 (80:20) from the US on July 3. The demand is sluggish and buyers were inactive in the field at the beginning of the week. Still, some of the market players hope for the best and expect some positive corrections in the price closer to the mid week. As we can see from the latest deals that were recently disclosed – price tended to decrease. Two different August shipments were heard in the finished steel segment at the very end of July – a batch from St. Petersburg with HMS 1&2 (80:20) priced at $470/t CFR Marmara and the same grade from the Netherlands was traded at $460/t CFR Marmara. Australian iron ore fines 62% Fe slightly went up to $182.75/t CFR, following an increase (+$4.2/t) in its futures on the DCE in September contracts. READ MORE... 02 August 2021 Decline after decline Turkey. Despite the fact that many mills have to continue their procurement, there are only negative corrections in the price. The quotes for HMS 1&2 (80:20) from the US decreased to $467-469/t CFR Turkey at the very beginning of August. Insiders are not sure about possible future of the import scrap market as the sentiment remains pessimistic for the second week in a row. July ended with a deal from Benelux – 45,000 t of mixed materials from Belgium were traded at the average price of $476.25/t CFR Marmara. Another deal was recently disclosed – HMS 1&2 (80:20) and bonus grade from the Baltic region were purchased at $469/t CFR Iskenderun and $484/t CFR Iskenderun respectively. Asia. Prices are falling in the Asian market as well. Offers for HMS 2 from Japan moved down by $9.1/t to $429.2/t FOB during last 20 days. A3 from Russia is quoted at $488-491/t CFR South Korea, while HMS 1 from the US is at around $500/t CFR South Korea. A surprisingly deep drop was noticed in Australian iron ore fines 62% Fe at the end of the month amid worsened moods in the steel segment. The price went down to $182/t CFR, following even bigger decrease (-$13.5/t) in its futures on the DCE in September contracts. READ MORE... 30 July 2021 Compound steel segment Turkey. Most probably this week as well as July will end up like this – slow business, low prices, and questionable demand. After a deal with US exporter was disclosed (HMS 1&2 (80:20) was bought at $471/t CFR Marmara), many suppliers decided to wait for some positive corrections. Some market players believe that quotes will definitely add some amount next week, while others expect another week of silence. All in all, downtrend in the Turkish import scrap market had a certain impact on all other countries. Of course, some of the mills around the world were also influenced by COVID-19 restrictions and lockdowns. Actually, Asian finished steel segment leaves a lot to be desired, - demand is sluggish, price satisfies neither sellers nor buyers. Offers for HMS 1&2 (80:20) from the US are heard at $443/t CFR Taiwan. Shredded material from the UK is priced at $520-540/t CFR India. Australian iron ore fines 62% Fe lost $5/t after a little jump on July 28, so the price is now at $194.5/t CFR. In the meantime, its futures on the DCE lost $3.5/t in September contracts. The drop has happened due to the worsened expectations regarding supply reduction in China. READ MORE... 29 July 2021 Downtrend prevails in the market Turkey. Nominal price went down at the end of July as importers do not accept positive corrections. On the contrary, suppliers are trying to avoid deep decrease in quotes as even the current level does not satisfy many of them. Offers for HMS 1&2 (80:20) from the Baltic region and Europe went below $476-478/t CFR Turkey on July 28. The price estimation for the same grade from the US is at around $475/t CFR Turkey. Insiders suppose that downtrend will continue at least till the next week. Europe. Of course, the situation in the Turkish finished steel segment influence the market in Europe. Thus, prices in Benelux also dropped this week amid negative sentiment. HMS 1&2 (80:20) from Rotterdam is assessed at $432/t FOB, while HMS 1&2 (75:25) from the same region is offered at $427/t FOB. The downfall is expected to prolong as long as international segment would get stabilized. Australian iron ore fines 62% Fe slightly increased to $199.5/t CFR, adding $0.5/t CFR on better demand, while its futures on the DCE gained $4.3/t in September contracts over the day. READ MORE... 28 July 2021 Hopes for the best shifted towards the end of the week Turkey. Slow and steady are taken the steps towards fresh deals and constructive negotiations as well. Turkish importers do not hurry to buy the material. Thus, the price level does not move. However, the situation is far from being clear. Some players suppose that the trend will certainly go down due to the mismatch of number of offers in the current market and the real need of the mills. Anyway, the price is stable, though it seems like the workable level will be clarified only nearer to the end of July. Australian iron ore fines 62% Fe moved down to $199/t CFR amid output reduction and increased tension between China and the US after discussing import tariffs. Even bigger decrease was noticed in its futures on the DCE (-$4.2/t) in September contracts. READ MORE... 27 July 2021 Not in a hurry to reactivate Turkey. After a long period of holidays, import scrap market can not recover just as the week started. Some of the players are discombobulated with current situation in the finished steel segment. The nominal price for HMS 1&2 (80:20) from the US, Europe and the Baltic region slowly keeps going down. However, not all the mills have successfully restocked for late August shipments. Anyway, the price for HMS 1&2 (80:20) from the US is estimated somewhere at $482-484/t CFR Turkey. Australian iron ore fines 62% Fe did not lost or gained anything over the last days. Nevertheless, its futures on the DCE climbed by $1.9/t in September contracts. The majority of the mills in China have started steel output reduction. As supply tightens, demand is gathering pace. Rebar futures added $2.5/t, while Tangshan billet went up by $6.2/t. READ MORE... 23 July 2021 Waiting for the next week Turkey. Suppliers are waiting for the next week to start as they strongly believe it will be a good start for the next round of fresh deals. Still, possible high activity does not mean that prices will go up. However, being aware of the needs to restock, some exporters will definitely try to make some positive corrections in the purchase price. The nominal level for HMS 1&2 (80:20) form the US is expected to say at $482-485/t CFR Turkey. Australian iron ore fines 62% Fe experienced one more step down – to $202/t CFR following its futures on the DCE decreased by $5.6/t in September contracts. As port inventories moved up and Chinese government ordained to cut production till the end of 2021, sentiment became totally negative. These two factors are the reason for the two days in a row reduction of the price. As for now, market participants are not happy about the possible future for the raw material segment. READ MORE... 22 July 2021 Silence on Turkey. Continuing silence in the import scrap market was expected by all of its participants. Therefore, there were no negotiations, no fresh deals. Price assessments are still at their previous levels being unchanged for several days as for now. Australian iron ore fines 62% Fe went down to $211.5/t CFR after its futures on the DCE fell by $9.1/t in September contracts. The drop happened due to worsened moods amid new restrictions from the Chinese government. READ MORE... 20 July 2021 Nobody expects any deals this week Turkey. Official holidays started in Turkey with seamlessly silent import scrap market. The assessment of the price for HMS 1&2 (80:20) from the US stays at $484.5/t CFR Turkey. There are not so much offers in the market as suppliers were aware of calm period well in advance. Asia. Tokyo Steel, the largest steel company, has cut prices for HMS 2 by $4.6/t at some of its assets. It is the second step down during last 10 days. Australian iron ore fines 62% Fe lost $0.5/t CFR due to the Tangshan’ production cuts. Its futures on the DCE went down as well – lost $2.5/t in September contracts. Insiders do not believe that this decrease has something to do with serious regress. It seems more like a fluctuation in the price level. READ MORE... 19 July 2021 Holidays are almost here Turkey. Import scrap market remains silent with no fresh deals amid upcoming Ramadan. Most of the buyers are already on holiday mode. Thus, insides expect new transactions most likely next week. Due to the absence of business activity, HMS 1&2 (80:20) from the US remains at $484.5/t CFR Turkey on July 19. Europe. As we already know, Turkish scrap market is extremely quiet for the past few days. Needless to say, that this situation has also an impact on European finished steel segment. Last week only one lot with shredded material was disclosed. A mill from Pakistan booked shredded scrap ex. Benelux at $550/t CFR Pakistan. In the meantime, the same material from the same place is estimated at $520-560/t CFR India. Australian iron ore fines 62% Fe moved up to $220/t CFR, following the same increase in its futures on the DCE in September contracts (+$1.1/t). READ MORE... 16 July 2021 Soft market after a day off Turkey. Nothing has changed within a day in the finished steel segment due to the national holiday on July 15 as it was predicted by the participants of the market. As for now, HMS 1&2 (80:20) from the US stays at the same level as yesterday, - at $484-485/t CFR Turkey. Insiders believe that some market players are going to pick up momentum right before next holidays (20th – 21st of July). However, even high business activity does not mean for sure that prices will have positive corrections. Anyway, the situation can be deemed as unclear as both uptrend and downtrend could happen next week. Australian iron ore fines 62% Fe went up to $118.75/t CFR amid bearish moods and firm demand, following its futures on the DCE upturn by $2.7/t in September contracts. READ MORE... 15 July 2021 Scrap market on mute Turkey. Turkish import market is silent on Thursday, 15. There are no deals heard. However, insiders suppose that some negotiations were underway yesterday. HMS 1&2 (80:20) from the US is estimated at $484-485/t CFR Turkey in the mid July. Australian iron ore fines 62% Fe stayed at $216.25/t CFR amid firm demand and positive sentiment. Still, market players expect that the segment will be under downtrend in the nearest future. READ MORE... 14 July 2021 Prices are waning further Turkey. Turkish import scrap market does not satisfy suppliers with current price levels. Still, there are some fresh deals for August shipments heard in the mid July. A mixed lot of 46,000 t from the US, including HMS 1&2 (80:20), shredded scrap and bonus grade, was traded at the average price of $495/t CFR Marmara. HMS 1&2 (80:20) was estimated at $485/t CFR. Another deal was also made with the exporter from the US. In that transaction HMS 1&2 (80:20) was also priced at $485/t CFR Marmara, while shredded material was at $500/t CFR Marmara. A batch of mixed grades (at the average price of $494/t CFR) from Canada was purchased by the mill from Izmir region. The price assessment for HMS 1&2 (80:20) has decreased to $484.5/t CFR Turkey. Australian iron ore fines 62% Fe remained at $216.5/t CFR asP the sentiment became better. Rebar futures increased by $4.4/t over the day, while Tangshan billet lost $4.6/t because of the worsened demand. READ MORE... 13 July 2021 The drop was not expected though exists Turkey. Nominal prices went down in the import scrap market at the third week of July. A fresh deal with the German supplier was disclosed yesterday. A mixed lot of 30,000 t, including HMS 1&2 (75:25) and bonus grade, was traded at $486.5/t CFR Marmara. Insiders suppose that price for HMS 1&2 (80:20) from the Baltic region, Europe went down to $490/t CFR Turkey. Meanwhile, price estimation for the same material from the US dropped to $496/t CFR Turkey. Russia. Downtrend prevails in the Russian scrap market with consumers lowering their bids in July. In the Central region A3 is quoted at $316-340/t, while the same grade in the Ural district is estimated at $326-359/t. The drop in prices in the latter area had more hasteless pace of reduction. In the south of Russia A3 material is estimated at $332-346/t delivered by railway. Australian iron ore fines 62% Fe took back its $2/t and went up to $216.25/t CFR amid positive sentiment in the segment. Iron ore futures on the DCE added $3.9/t in September contracts. In the meantime, Tangshan billet and rebar futures also increased amid higher expectations. READ MORE... 12 July 2021 Heading the mid of July with silent import scrap market in Turkey Turkey. Importers did not hurry to restock during the second week of July. However, many of mills have declared their need for the material for August shipments. Still, suppliers are trying to push for positive corrections, while buyers took a break in negotiations. As for now, HMS 1&2 (80:20) from the US stays at $498/t CFR Turkey. Asia. High business activity was noticed in the South Korean import scrap market at the end of last week. Actually, 75,000 t of HMS 1 from the US was traded to buyers form South Korea at $513/t CFR. In the meantime, quotes for A3 from Russia did not change, staying at $514-518/t CFR South Korea. In comparison with these price levels, offers for HMS 2 from Japan are heard at $436.2/t FOB, while HS grade from the same region is estimated at around $459.9/t FOB. Heading the mid of July, Tokyo Steel has decreased HMS 2 price by $4.5/t at two of its assets. Australian iron ore fines 62% Fe went down to $214.25/t CFR (- $2.75/t) amid worsened sentiment in the segment, following drop in its futures on the DCE in September contracts (- $3.4/t). READ MORE... 09 July 2021 Intermittence in procurement Turkey. After a burst of activity in the import scrap market, buyers took a step back. Still, insiders believe that this is just a short break before heavy trading. Due to the absence of fresh deals, the price estimation for HMS 1&2 (80:20) from the US stays at the same level as yesterday. Vietnam. All in all, Vietnamese scrap market is not at its best on the second week of July. Importers are fenced in their business due to the COVID restrictions. However, there are some offers heard from Japan, Australia and the US. H2 from Japan is quoted at $490-500/t CFR Vietnam, while HMS 1&2 (50:50) from Hong Kong is priced at around $480-485/t CFR Vietnam. HMS 1&2 (80:20) from the US is currently offered at $515-520/t CFR. Australian iron ore fines 62% Fe decreased to $217/t CFR amid twisted moods in the segment because of the new strict regulations of Chinese government regarding environment issues. Its futures on the DCE went down by $8.7/t in September contracts as well. In the meantime, only 90,000 t of iron ore fines were booked on trading platforms on July 8. READ MORE... 08 July 2021 Sharp prices for buyers in the scrap market Turkey. The situation in the import scrap market improves day by day. Buyers began to restock, purchasing material at sharp prices. Meanwhile, suppliers are trying to make some positive corrections. Yet, prices began to decrease as there are too many offers in the market at the moment. Insiders believe that the segment will be stabilized in the middle of next week. Actually, HMS 1&2 (80:20) from the US was bought at $498/t CFR Izmir, while the same grade from another US supplier was traded at $496/t CFR Marmara. Thus, the price assessment of HMS 1&2 (80:20) from the US moved down to $496-498/t CFR Turkey. Australian iron ore fines 62% Fe increased to $222.25/t CFR, following its futures on the DCE upturn in September contracts (+$2/t) on July 7. In the meantime, rebar futures gained $20.8/t, while Tangshan billet added only $10.8/t. Only 250,000 t of iron ore fines were booked on trading platforms yesterday. READ MORE... 07 July 2021 First steps towards active business Turkey. As it was already predicted, the silence in the import scrap market was replaced with active business. Of course, these are first steps towards healthy and wealthy market. However, it seems like mills are waking up as many of them need material for August shipments. This way, 28,000 t of mixed grades, including HMS 1&2 (80:20), shredded scrap and bonus material, from Finland were traded at the average price of $510/t CFR Marmara for August shipment. Taking into account recently improved interest of buyers, positive moods, negotiations and fresh deals, price estimation for HMS 1&2 (80:20) from the US increased to $500-501/t CFR Turkey. Australian iron ore fines 62% Fe made a little jump up to $220.5/t CFR amid firm demand, following the same increase in its futures on the DCE. Actually, 340,000 t of iron ore fines were booked on trading platforms on July 6. READ MORE... 06 July 2021 Waiting for the reverse trend Turkey. For more than a week silence has captured the import scrap market. There are no deep-sea or short-sea deals. Aposteriori, such calm periods with the total absence of any kinds of deals are always followed by periods of high business activity. Thus, it is the matter of time when buyers will have a need to restock. As for today, prices are stable. The current assessment for HMS 1&2 (80:20) from the US remains at the same level. India. Indian finished steel segment is at a standstill as well. Still, there are some offers heard, - shredded material from Europe is estimated at $530-540/t CFR, while HMS 1&2 (80:20) from the UAE is quoted at around $480/t CFR. Australian iron ore fines 62% Fe went up to $220/t CFR, after its futures on the DCE gained $6.6/t in September contracts on July 5. READ MORE... 05 July 2021 Silence in the finished steel segment Turkey. The absence of deals in the Turkish import scrap market lasts for more than a week. Still, there are some negotiations heard. Insiders believe that this week will certainly jazz the market up. It is known, that suppliers from the Baltic region are willing to push for at least $505/t CFR Turkey in possible fresh deals. As for now, price estimation for HMS 1&2 (80:20) from the US stays at $499/t CFR Turkey. Bangladesh. Bangladeshi import market suffers from monsoon season and proceeding lockdown. However, last week was productive with 64,000 t of US HMS 1&2 (80:20) and shredded material being bought at $530-540/t CFR Bangladesh. Moreover, 26,000 t of HMS 1&2 (80:20) and bonus grade were purchased from Australia at the average price of $533/t CFR Bangladesh also in late June. Meanwhile, Australian iron ore fines 62% Fe climbed to $216/t CFR amid positive sentiment in the segment, while its futures on the DCE added $2.5/t in September contracts. Nevertheless, only 80,000 t of fines were booked on trading platforms on Friday 2. READ MORE... 02 July 2021 Still scrap market Turkey. As it was anticipated, finished steel market is on pause at the very beginning of July. However, some negotiations are underway. Buyers are pushing for negative corrections, while suppliers are trying to hold the current level. Due to the silence in the import scrap market, price estimation for HMS 1&2 (80:20) from the US stays at $499/t CFR Turkey on July 2. Australian iron ore fines 62% Fe got back $2.5/t over two days, while its futures on the DCE remained at the same level. The estimated price for fines is now at $216.5/t CFR. As for now, market participants do expect betterment in the segment next week amid improving iron ore price. READ MORE... 30 June 2021 Stable prices & rare deals Turkey. The most recent deal heard in the import scrap market – was the one with the UK supplier. A mixed lot of 45,000 t, including HMS 1&2 (80:20), shredded material and bonus grade, was traded at the average price of $505.5/t CFR Marmara. Thus, it seems like prices are mostly stable in the finished steel segment. HMS 1&2 (80:20) from the US is estimated at $499/t CFR Turkey. Australian iron ore fines 62% Fe went down to $212.5/t CFR after its futures on the DCE decreased by $5/t in September contracts. This drop is considered to be a consequence of Chinese forthcoming celebrations. READ MORE... 29 June 2021 Moderate condition of the finished steel segment Turkey. Turkish import scrap market is silent at the very end of June. Last week there were not a lot of fresh deals as well. The situation is complicated as buyers are not willing to purchase material at high rates, while sellers are not read for discounts. The price estimation for HMS 1&2 (80:20) from the US East Coast is at around $499/t CFR Turkey. Australian iron ore fines 62% Fe increased to $218/t CFR, following its futures in September contracts upturn (by $3.2/t). The new wave of price growth happened due to the recently climbed steel price. Meanwhile, rebar futures are also up at $20.5/t. Tangshan billet added $3.1/t over the day. READ MORE... 28 May 2021 A pause turned into a plunge Turkey. After a period of active business and price surge, it is surprisingly silent in the import scrap market at the very end of May. There are no negotiations as buyers prefer to wait for a while. Meanwhile, suppliers are trying to push tags. The stability of scrap quotes wavered and price assessment for HMS 1&2 (80:20) from the US waned to $508-510/t CFR Turkey on May 28. Domestic market is under a huge influence of global trends. Thus, prices were recently revised for the second time in a week amid negative sentiment. Australian iron ore fines 62% Fe jumped to $189.5/t CFR, after its futures on the DCE added $8.1/t in September contracts. Despite new regulations governed by China’s authorities regarding speculations in the market, the price managed to move up. Rebar futures gained $23.4/t, while Tangshan billet - $4.7/t. READ MORE... 27 May 2021 Unclear prospects Turkey. Mainly, prices in the Turkish import scrap market are stable despite absence of fresh deals this week. Actually, tags for HMS 1&2 (80:20) from the US are somewhere at $512/t CFR Turkey. However, there are few rather slow negotiations heard, so the real level of quotes for the material is unclear. Needless to say suppliers are pushing to get higher bids. Still, the situation in the finished steel segment is ambiguous, so that even insiders can not predict the nearest future. Meanwhile, Turkish local mills revised purchase prices for domestic material by deducting around $11-22/t depending on the grade. Australian iron ore fines 62% Fe keep moving down after Chinese government announced decision to take control over prices for the raw material and steel during next 5 years. The actual price assessment is at $181/t CFR, while futures on the DCE went down to $155.2/t in September contracts. Rebar futures decreased by $39.3/t, while Tangshan billet lost $37.4/t. READ MORE... 26 May 2021 Finished steel segment slowed down Turkey. Business activity is slow in the import scrap market at the end of May. Actually, there were no fresh deals for several days as many of market participants are in wait-and-see mode. Other buyers just completed their procurement. Of course, China’s impact on the situation is also sufficient. Insiders suppose that despite many negative factors, the market will be pretty much firm in the nearest future. Thus, tags for HMS 1&2 (80:20) from the US are still estimated at $512/t CFR Turkey. Australian iron ore fines 62% Fe increased to $191.5/t CFR, after a little jump in its futures on the DCE in September contracts. Since last week, the price is almost stabilized. However, market players do feel that demand has lowered significantly. READ MORE... 24 May 2021 Negative moods in the market Turkey. The daily price estimation for the material ex. US is near $512/t CFR Turkey at the beginning of the last week of May. Buyers are not as active as before, while suppliers are still trying to push scrap tags. Some new deals were disclosed in the market, including the one with a Romanian exporter. HMS 1&2 (80:20) in the amount of 1700 t was traded at $475/t CFR Marmara. Insiders suppose prices for the same grade will wane amid expectative silence. Australian iron ore fines 62% Fe made one more step down – to $198/t CFR on May 21. In the meantime, its futures on the DCE lost $7.2/t in September contracts. The price reduced that much amid worsened moods in the finished steel market as well as China’s intervention into price control. Rebar futures and Tangshan billet decreased by $11.5/t and $12.4/t respectively. READ MORE... 21 May 2021 Surging prices in global scrap market Turkey. Several more fresh deals were recently heard in the import scrap market on May 20. Buyers started to buy material even for July shipments. In the meantime, suppliers are trying to push scrap tags amid bullish moods and healthy demand. Actually, a mixed batch from Russia, including HMS 1&2 (80:20), P&S material and HMS 1&2 (90:10), in the amount of 25,000 t was traded at the average price of $512.5/t CFR Iskenderun. A lot from Poland with HMS 1&2 (80:20) changed hands at $507.5/t CFR Iskenderun. The price estimation of HMS 1&2 (80:20) from the US moved up to $511-513/t CFR Turkey at the end of the fourth week of May. Australian iron ore fines 62% Fe went down again by $6.5/t to $208/t CFR, after its futures on the DCE decreased by $7.8/t in September contracts. The downtrend was caused by the Chinese government which decided to keep a close watch on prices. Meanwhile, rebar futures and Tangshan billet dropped more, by $19.1/t and $23.3/t respectively. READ MORE... 20 May 2021 Finished steel segment goes up Turkey. After a break in the import scrap market due to the holidays, market participants resumed procurement for June and even early July shipments. Two batches form Russia were traded to Marmara and Iskenderun bases mills. In the first one, the price for HMS 1&2 (80:20) was estimated at $507/t CFR Marmara, while in the second one – the same material was priced at $506.5/t CFR Iskenderun. Recently, HMS 1&2 (80:20) was also bought from the UK for June shipment. The lot mixed with bonus grade was purchased at the average price of $510/t CFR Izmir. Taking into consideration healthy demand and high business activity this week, quotes for HMS 1&2 (80:20) from the US are at $506-508/t CFR Turkey on May 20. Australian iron ore fines 62% Fe decreased to $214.5/t CFR on May 19 amid futures on the DCE waning (-$7.8/t). Tangshan billet also went down – by $26.5/t, while rebar futures lost $46.8/t. Also, only 190,000 t of iron ore fines were booked on platforms yesterday. Nevertheless, insiders predict high steel supply in the nearest future. READ MORE... 17 May 2021 Market takes a breath Turkey. Import scrap market is braced for the come-back of the buyers after holidays. Due to the silence in the finished steel segment, tags for the material did not move within a weekend. HMS 1&2 (80:20) from the US is still assessed at $502/t CFR Turkey. Asia. All in all, there is a certain uptrend in the Asian scrap market in May due to the global positive sentiment. Tokyo Steel revised its purchase price for HMS 2 by $9.2/t. In the most recent deal with the UK supplier, shredded scrap was traded at $492/t CFR India. However, due to the outbreak of coronavirus pandemic in the country, there is almost total silence in the market. Still, some offers are heard – this week shredded material from Europe is quoted at $520-530/t CFR India, while HMS 1&2 (80:20) increased to $500/t CFR. Australian iron ore fines 62% Fe went down to $209/t CFR after its futures on the DCE lost $6.7/t in September contracts. In the meantime, rebar futures decreased by $42.5/t, Tangshan billet was lowered by $23.2/t. The back to the basics of last week levels happened amid measures taken by Chinese government. Tangshan city deterred domestic producers from rising costs. READ MORE... 14 May 2021 Business slowed down amid holidays Turkey. After a period of high business activity, nominal prices have stopped at around $501-503/t CFR Turkey for HMS 1&2 (80:20) on May 13. Due to the holidays, the majority of market participants are out of the market. Insiders believe that some of the mills will resume to procurement on Monday. South Korea. The sharp rise in scrap tags was also spotted in the South Korean finished steel segment. HMS 2 from Japan is estimated at $490-492/t CFR South Korea in the mid-May, while shredded material from the same region is now quoted at $524-530/t CFR South Korea. A producer from South Korea has recently bought HMS 2 from Japan at current levels. As for the material from Russia, A3 is offered at $510/t CFR South Korea. In the meantime, HMS 1 from the US is assessed at $520/t CFR South Korea on May 14. Australian iron ore fines 62% Fe strode since the beginning of May. Actually, there was a huge step back yesterday. Iron ore fines decreased to $218/t CFR Qingdao, after its futures on the DCE went down by $18.6/t in September contracts. Insiders suppose that the previous leap in prices was the result of speculations. However, most of the participants of the market presume that positive sentiment will help iron ore fines to recover. READ MORE... 13 May 2021 Keep on going Turkey. Some more fresh deals were recently disclosed in the import scrap market. Actually, mills continue to restock for June shipments despite of holidays. HMS 1&2 (80:20) from the Baltic region was traded at $500/t CFR Iskenderun a few days ago, while a batch of the same grade from the UK changed hands at $499/t CFR Izmir. A mixed lot from Europe at the average price of $500/t CFR Iskenderun was also spotted in the market. HMS 1&2 (80:20) from the US is estimated at $502/t CFR Turkey in May 13. Australian iron ore fines 62% Fe spiked to $237/t CFR on May 12. What’s more, blend fines 62% Fe from Brazil were purchased at $240/t CFR. Tangshan billet added $18.7/t, while rebar futures gained $13.2/t. Market participants are appalled by such levels. However, the sentiment remains bullish with Chinese steel market constantly pushing iron ore tags. READ MORE... 12 May 2021 Bullish moods in both markets Turkey. Uptrend is on in the import scrap market in the middle of the second week of May. Right before holidays many buyers decided to lead an active business and to purchase more material for June shipments. A mill from a Marmara region has bought a mixed batch of HMS 1&2 (80:20) and bonus grade priced at $495/t CFR and $505/t CFR respectively. Another receiver from the Iskenderun region purchased HMS 1&2 (80:20) from Denmark at $493/t CFR. The price estimation for HMS 1&2 (80:20) from the US is at $494-496/t CFR Turkey. Australian iron ore fines 62% Fe skyrocketed for the second time in a week to $228/t CFR due to the bullish moods of market participants all over the world. READ MORE... 11 May 2021 Unusually high prices for scrap Turkey. Tags for HMS 1&2 (80:20) are round about $500/t CFR Turkey depending on the exporter. Last week Swedish supplier sold HMS 1&2 (80:20) at $488/t CFR Marmara. However, many mills started to accept higher levels for the same grade this week. Pakistan. Import scrap market is under the influence of global one. Taking into account improved demand and bullish moods of the participants, prices are constantly rising during the last 7 days. Shredded scrap from the EU changed hands at $485/t CFR Pakistan. Later that week the same grade from the UK was bought at $490/t CFR Pakistan. As for now, there are a few offers at $500/t CFR amid positive sentiment. South Korea. South Korean import scrap market is gaining momentum as well. HMS 2 from Japan is estimated at around $451/t CFR South Korea. Still, there were no fresh deals as most of the players do not hurry to restock. HMS 1 form the US is offered at $470-475/t CFR South Korea. Bangladesh. Unusually high quotes were noticed in the most recent deals. Actually, shredded material from the Australia was purchased at $500/t CFR Bangladesh. P&S from South America was bought at $505/t CFR Bangladesh. Offers for HMS 1&2 (80:20) from Australia are heard at $485/t CFR, while P&S from the same region is offered at $520-530/t CFR. READ MORE... 07 May 2021 It happens almost never - skyrocketing prices for iron ore Turkey. For a fifth day in a row import scrap market remains active due to the firm demand and bullish moods of participants. As for new deals – some were recently disclosed. 35,000 t of mixed HMS 1&2 (80:20) and bonus grade from Latvia changed hands at the average price of $484/t CFR Marmara. Actually, HMS 1&2 (80:20) from the US is assessed at around $480/t CFR Turkey on May 7. Many mills are trying to complete restocking before upcoming holidays next week. An Iskenderun-based company bought 25,000 t of HMS 1&2 (80:20) from Belgium priced at $464/t CFR and 5,000 t of HMS 1 from the same region priced at $468/t CFR for June shipment. One more deal for shipment in June was heard between a mill from Iskenderun region and the UK supplier. In concrete terms – a mixed batch with HMS 1&2 (80:20), shredded scrap and bonus material was traded at the average price of $476.3/t CFR. Not only scrap market is flourishing this spring. Australian iron ore fines 62% Fe skyrocketed to $197/t CFR which is definitely a breakthrough of all-time. Two main reasons for a big step like that – constantly rising steel market with improved (finally after a month of silence) demand during last days and China’s unwillingness to make any decisions regarding trade conflict with Australia. Anyway, Tangshan billet gained $20/t, reaching $789/t EXW, while rebar futures added $42/t over last 7 days, being at $873/t. READ MORE... 06 May 2021 Upward trend captured the market Turkey. Prices are roaring in the import scrap market amid surprisingly firm demand on the first week of May. Active negotiations are underway, while some fresh deals were recently disclosed. A mixed lot from central Europe, including HMS 1&2 (80:20), shredded scrap and bonus grade, was bought at the average price of $468/t CFR Karadeniz. HMS 1&2 (80:20) was estimated at $463/t CFR Karadeniz in that deal. The same material from Finland was traded at $471/t CFR Karadeniz this week. As for now, price estimation for HMS 1&2 (80:20) from the US is at $471-472/t CFR Turkey. In the meantime, local producers have revised their tags for domestic scrap. Many companies raised quotes by $5-28/t depending on the region. Europe. European players are playing hard, pushing prices for finished steel on May 5. Offers for HMS 1&2 (80:20) gained + $18/t CFR over one week. This way, the material is assessed at $466/t CFR. READ MORE... 05 May 2021 Prices up on stronger finished products Europe. Price level for scrap grades jumped at the beginning of May amid healthy demand in the finished steel segment. As most part of April was silent with no negotiations heard or some with relatively lowered tags, suppliers relish the opportunity to push prices on the first week of May. Many new deals are not still disclosed. Nevertheless, as per insider’s information the most recent deals added few dollars per mt. At the end of last week, price assessment for HMS 1&2 (80:20) from Rotterdam was estimated at $418/t FOB, while HMS 1&2 (75:25) from the same region was at $413/t FOB. HMS 1&2 (80:20) from Benelux was traded at $448/t CFR Turkey last week. Shredded material rom Europe is assessed at $475-480/t CFR India/Pakistan. Russia. As mills in Turkey started to accept higher levels amid stronger finished products, prices for Russian material went up. At the very end of April, A3 from St. Petersburg changed hands at $426/t CFR Turkey. As for now, after a few deals on increased quotes from the Baltic region, Russian A3 is offered at around $440/t CFR Turkey. READ MORE... 04 May 2021 Happy days for the suppliers Turkey. Prices significantly moved up since mid-April. Demand has improved, buyers began to accept higher quotes for the material. All in all, import scrap market is alive and kicking. Many fresh deals have been heard during first days of May. Actually, HMS 1&2 (80:20) from northern Europe was traded at $453/t CFR Iskenderun. The same grade from Latvia was bought at $440/t CFR Iskenderun. HMS 1&2 (80:20) from the UK changed hands at $435/t CFR Iskenderun. The price estimation for the same material from the US is around $453/t CFR Turkey on May 4. Australian iron ore fines 62% Fe decreased to $186.5/t CFR due to the weaker futures (which lost $5.9/t few days ago). Rebar futures moved down by $9.4/t. However, market fundamentals are still positive. READ MORE... 16 April 2021 Not so much as for deals as for demand Turkey. The import scrap market stands still with no fresh deals or negotiations underway. Actually, there are a lot of offers in the segment and buyers are pushing for negative corrections in the prices for the material. In the meantime, suppliers do not accept lower quotes. In view of the above, the price estimation for HMS 1&2 (80:20) from the US does not changes and is at $430/t CFR Turkey on April 16. South Korea. Despite low business activity in the Turkish market, players in the South Korean one are mostly bullish. Offers for Japanese HMS 2 are heard at $429/t CFR South Korea. Meanwhile, shredded scrap is quoted at $466-484/t CFR South Korea. Tags for HMS 1 from the US jumped to $455/t CFR South Korea, while A3 from Russia is assessed at $445/t CFR South Korea. Australian iron ore fines 62% Fe skyrocketed to $177/t CFR on April 15 amid optimistic moods in the steel segment. Its futures on the DCE also increased more than by $5/t in September contracts. Moods of the market participants became positive due to the discussions regarding improvement of demand.Not READ MORE... 15 April 2021 Nothing is clear for the moment Turkey. Everybody knows that sooner or later but procurement for May/June shipments has to begin. Many mills are not ready for positive corrections in potential deals. In the meantime, suppliers, even being aware of a great availability of the offers, still do not accept decrease in the tags. All in all, import scrap market is waiting for some first steps. As for now, there are no active negotiations. However, insiders believe that a new wave of restocking is forthcoming. Considering absence of fresh deals and uncertainty in the segment, HMS 1&2 (80:20) from the US is estimated at $430/t CFR Turkey in the mid-April. Asia. The sentiment is certainly better in Asian import scrap market than in the Turkish one. Tags for the material are rising amid bearish moods. Tokyo Steel has announced another step up in its HMS 2 prices. The jump varies from $9.2/t to $13.8/t depending on the work. Australian iron ore fines 62% Fe increased to $172/t CFR due to the high business activity in the China’s market. Actually, almost 330,000 t of iron ore fines were booked on trading platforms on April 14. READ MORE... 14 April 2021 Waiting for the cat to jump Turkey. Silence captured import scrap market at the beginning of a new week. Suppliers are pushing for positive corrections in the price, while buyers refrain from deals, being aware of the number of offers in the segment. Thus, price estimation for HMS 1&2 (80:20) from the US did not change over the day. South Korea. Despite negative moods in the Turkish market, finished steel segment in the South Korea is quite alive and kicking with positive sentiment among market players. Actually, 10,000 t of Japanese HMS 2 were traded this week at $430/t. In the meantime, A3 from Russia is quoted at around $435/t CFR South Korea. HMS 1 from the US is estimated at around $440/t CFR. However, there were no recent deals from these directions. Europe. Demand in the European sector is quite good with prices widened in the mid-April. The level of scrap tags did not change largely due to the healthy requirement in material and slower collection. The approximate price for the material is at $418-454/t depending on the grade. Australian iron ore fines 62% Fe went up to $171.55/t CFR, following almost the same increase in its futures on the DCE in September contracts. READ MORE... 13 April 2021 Unclear prospects Turkey. The situation in the import scrap market is quite unclear in the mid-April. Some insiders are concerned about the beginning of Ramadan holidays and how this is going to influence the segment. Still, there are mills that did not restock enough for May shipments. HMS 1&2 (80:20) from the US East Coast is estimated at $432/t CFR Turkey. Market players hope that demand will recover in the nearest future. Asia. Finished steel market in the Pakistan slowed down at the beginning of a new week. However, some fresh deals were heard in the middle of last week. This way, 15,000 t of shredded material from Europe were sold at $463/t CFR Pakistan. Also, a 1,000 t batch from the UK was bought at $460/t CFR. In the meantime, Tokyo Steel announced an increase in its HMS 2 purchase price by $9.1/t since today, April 13. Australian iron ore fines 62% Fe moved up to $173/t CFR on April 12. The reason for a slight growth – jump in the futures on the DCE in September contracts by $5.3/t. Meanwhile, steel price went down due to the negative sentiment in the market. READ MORE... 12 April 2021 Another plunge in the market Turkey. A trend in the import scrap market turned to negative at the end of last week due to the most recent deal with Canadian exporter. A batch of 50,000 t, consisting of HMS 1&2 (80:20) and shredded material, was traded at the average price of $436/t CFR Iskenderun. Thus, HMS 1&2 (80:20) went down in its price estimation to $432/t CFR Turkey in the mid-April. Meanwhile, prices for local material were revised by $6-21/t by many mills as domestic market followed an uptrend in the segment behind time. Bangladesh. After a spike in the global market, price in the Bangladeshi market began to rise. Despite upcoming Ramadan holidays, negotiations were underway last week. Even some deals were disclosed on April 09. Actually, two lots from the US with a total tonnage of 60,000 t were bought at the average price of $460-465/t CFR Bangladesh. A deal with an Australian supplier was heard as well, - HMS 1&2 (80:20) was traded at $455/t CFR. Australian iron ore fines 62% Fe remained at $172.5/t CFR. In the meantime, its futures on the DCE slightly moved down by $0.5/t in September contracts. READ MORE... 09 April 2021 Quotes got frozen Turkey. Prices stopped after a spike in the import scrap market. Actually, buyers are avoiding positive corrections as demand is quite sluggish in April. All in all, segment seems alive with some deals signed at current levels. A mixed batch from the US, including HMS 1&2 (80:20) and bonus grade, was bought by an Iskenderun-based mill at the average price of $438/t CFR. Considering current situation, HMS 1&2 (80:20) from the US is estimated at $434/t CFR Turkey at the end of 14th week of 2021. Australian iron ore fines 62% Fe did not change over the day, remaining at $172.5/t CFR on April 8. Although, its futures on the DCE went down by $1.7/t in September contracts. However, it does not affect buying activity. In fact, about 320,000 t of fines were booked on trading platforms yesterday. READ MORE... 08 April 2021 Prices went up Turkey. Business activity was high in the import scrap market on April 7. Finally, market participants found a way to proceed to deals. Buyers accepted positive corrections in the scrap tags as they need the material for May shipment. Upcoming Ramadan also pushes many mills to restock. This way, many fresh deals were heard in the finished steel segment. It also turned out that last week a mixed lot, including HMS 1&2 (80:20) priced at $430/t CFR, was traded to a mill from Izmir region. This week, an exporter from the US sold a batch at the average price of $439/t CFR Karadeniz. HMS 1&2 (80:20) from Europe was bought at $431/t CFR Karadeniz. Another deal with a supplier from the Baltic region was recently disclosed. A lot with HMS 1&2 (80:20), shredded scrap, bonus grade and busheling from Latvia changed hands at the average price of $436/t CFR Iskenderun. Due to the recent signed contracts, HMS 1&2 (80:20) from the US is currently estimated at $434/t CFR Turkey. Australian iron ore fines 62% Fe went up to $172.5/t CFR, following an increase in its futures on the DCE. The main drivers are – positive sentiment in the segment and forthcoming cyclone to the West coast of Australia’s. Tangshan billet gained $3.1/t over the day. READ MORE... 07 April 2021 Did not find any compromise Turkey. The daily assessment stays at $427/t CFR Turkey for HMS 1&2 (80:20) from the US amid silence in the finished steel segment. Sellers are still not ready to work on lower levels, while buyers are pushing for negative corrections. Demand remains sluggish despite upcoming Ramadan. Insiders suppose that price tags will increase at the end of the week. However, mills seem not to hurry to restock for May shipments. Actually, a new deal was disclosed in the import scrap market. A batch of 20,000 t from the Baltic region was traded at $430/t CFR. Australian iron ore fines 62% Fe jumped to $170/t CFR on April 6 due to the new restrictions in Tangshan city as well as skyrocketing price for steel. Its futures on the DCE increased in September contracts. Tangshan billet added $9.2/t over the day. Nevertheless, prospects for the iron ore price are not quite good as the sentiment is rather negative at the beginning of April. READ MORE... 06 April 2021 Silence in the segment Turkey. Confrontation between those who are trying to reach some positive corrections in the price and those who are pushing for lower tags is underway in the Turkish import scrap market at the beginning of 14th week of 2021. Actually, demand leaves a lot to be desired. And thus, HMS 1&2 (80:20) from the US is estimated at $427/t CFR Turkey. Russia. Only price tags in the Ural District remained at the same position – at $324-367/t over the week. In the South of Russia quote for A3 material delivered by trucks widened to $323-360/t CPT mill. Meanwhile, A3 delivered by rail is assessed at $361-367/t. In the central region prices for A3 are heard at $365-372/t. READ MORE... 05 April 2021 Stable prices amid difference in opinions Turkey. In spite of recently increasing demand in the finished steel segment, prices for material from the US and Baltic region are not going up. In fact, they slightly moved down at the end of last week. Offers for HMS 1&2 (80:20) from Europe are heard at $420-425/t CFR Turkey at the second week of April. Suppliers are willing to reach new highs, while buyers are pushing for lower quotes. As for now, HMS 1&2 (80:20) from the US is estimated at $427/t CFR Turkey. Europe. Actually, offers for shredded scrap from Europe are heard at around $450/t CFR India. The same material is quoted at $475/t CFR Bangladesh. Meanwhile, price assessments for HMS 1&2 (80:20) from Rotterdam and HMS 1&2 (75:25) from Rotterdam have increased to $388.5/t FOB and $383.5/t FOB respectively over the week. Australian iron ore fines 62% Fe stayed at $165.65/t CFR amid little step up in its futures on the DCE on Friday 2. Prices stabilized due to quite sluggish demand and thus, slow commercial activity. Rebar futures added $23.5/t over the day, while Tangshan billet gained $21.3/t. READ MORE... 02 April 2021 Demand improves but tags are still Turkey. Despite disclosed fresh deals, price level for HMS 1&2 (80:20) remains at $430/t CFR Turkey. Actually, a mixed batch of 3 different grades from Belgium was traded to a mill from Marmara region for May shipment. HMS 1&2 (80:20) was estimated at $418/t CFR Marmara. As for now, buyers are trying to avoid positive corrections in scrap tags, while suppliers are pushing for higher quotes. In the meantime, Turkish companies revised purchase prices by $18-29/t for domestic material amid optimistic moods and global improving demand. Australian iron ore fines 62% Fe moved up to $165.65/t CFR, following increase in its futures on the DCE in September contracts. Tangshan billet went up by $3/t, while rebar futures gained $10.4/t over the day. However, trading activity was not as high as yesterday. READ MORE... 01 April 2021 Price slightly moves in global market Turkey. Step by step is edging price for the material from the US and Baltic region in the import scrap market. This week a mixed lot from the US was bought by a Turkish mill for May shipment. In that deal HMS 1&2 (80:20) was priced at $430/t CFR Izmir, P&S grade – at $440/t CFR Izmir. Despite positive sentiment and healthy demand, the estimation for HMS 1&2 (80:20) from the US stays at $430/t CFR Turkey. Europe. Price trend in Europe can be described as slow but sure. Offers for HMS 1&2 (80:20) from Rotterdam are assessed at $392/t FOB Rotterdam, while HMS 1&2 (75:25) from the same region is heard at $387/t FOB. Insiders expect prices to grow in the next 10 up to the beginning of Ramadan. Australian iron ore fines 62% Fe went down to $164.5/t CFR, following decrease in its futures on the DCE. The main reason for a sharp step down of futures in September contracts is speculation on demand expectations. Anyway, 460,000 t of iron ore fines were booked on trading platforms yesterday. READ MORE... 31 March 2021 Waiting for the next step Turkey. After a spike in the most recent contract with the US supplier, prices stopped at the point due to the absence of fresh deals. Buyers are not willing to accept higher levels at the moment, while exporters are pushing for positive corrections in scrap tags. Most players suppose that prices will be raised softly, without sharp surge. Actually, HMS 1&2 (80:20) from the US is still assessed at $430/t CFR Turkey. In the meantime, prices for domestic scrap were also revised this week. Many mills have increased purchase prices for local material by $3-20/t, following the global upward trend. Australian iron ore fines 62% Fe waned to $165.25/t CFR on March 30. Its futures on the DCE lost $3.7/t in May contracts over the day. The main driver for the decline is increased rate of shipments from Australia, Brazil and other producing countries. Despite the slight decline, 450,000 t of iron ore fines were booked on trading platforms on the last but one day of March. READ MORE... 30 March 2021 Restocking in progress Turkey. It seems like some mills began procurement for May shipments as fresh deals were recently disclosed in the import scrap market. A mixed batch from the US was traded at the average price of $432/t CFR Iskenderun for May shipment. HMS 1&2 (80:20) was estimated at $427/t CFR Iskenderun. The same importer bought 20,000 t of HMS 1&2 (80:20) from the UK at $410/t CFR Iskenderun for late April shipment. Taking into account positive corrections in the purchase price, HMS 1&2 (80:20) from the US is estimated at $430-432/t CFR Turkey on March 30. Considering improvement in the finished steel segment, insiders believe that scrap tags will go up this week. Russia. The upward trend is gathering pace in Russia on last days of March due to the stiff competition amid suppliers. A3 quotes in the Ural region widened to $340-365/t, while the same material in the Central districts is offered at $360-370/t. A3 material delivered by railway is assessed at $360-365/t in the Southern Russia. Meanwhile, tags for A3 delivered by trucks remain at the same level. Australian iron ore fines 62% Fe jumped to $167.25/t CFR amid positive sentiment and healthy demand in the finished steel segment. In the meantime, iron ore futures on the DCE gained $5.3/t in May contracts. READ MORE... 29 March 2021 First steps towards demand improvement Turkey. Some positive corrections in the scrap price were noticed at the end of last week. A new deal with the supplier from the UK pushed quotes up in the import scrap market. A mixed lot of 30,000 t in total was bought by a mill from Karadeniz region at the average price of $420/t CFR. Thus, price estimation for HMS 1&2 (80:20) from the US increased to $420/t CFR Turkey. Europe. Due to the slowly recovering demand in the Turkish market, scrap tags in Benelux are growing as well. HMS 1&2 (75:25) and HMS 1&2 (80:20) from Rotterdam are currently assessed at $377/t FOB and $382/t FOB respectively. Last week a supplier from the UK sold shredded material priced at $435/t CFR India. As for now, offers for the same material are at $440/t CFR. Meanwhile, HMS 1&2 (80:20) from Europe is estimated at $415/t CFR. Australian iron ore fines 62% Fe improved by $1/t to $161.25/t CFR after its futures on the DCE moved up by $3.2/t in May contracts. Rebar futures added $21.3/t and Tangshan billet gained $6.1/t over the day. However, purchasing activity was not high – only 280,000 t of iron ore fines were booked on trading platforms on Friday, 26. READ MORE... 26 March 2021 Undesirable stability Turkey. HMS 1&2 (80:20) from the US stays at $415/t CFR Turkey at the end of the fourth week of March. Suppliers do not accept negative corrections in scrap tags, waiting for demand to recover. Anyway, sooner or later mills will definitely resume procurement for late April/ May shipments. On the other hand, buyers hope for their best – to close deals on the same or even lower price levels. Asia. Finished steel segment follows global trend. Quotes for the material are lowering amid sluggish demand and negative sentiment. Some companies prefer to wait-and-see, while others are revising their price ideas. Tokyo Steel has announced the sixth revision in a row – purchase price for HMS 2 decreased by $4.6/t to $366.7/t. Australian iron ore fines 62% Fe went down to $160.25/t CFR on March 25. Despite a step down of fines, its futures on the DCE added $2.2/t in May contracts over the day. READ MORE... 25 March 2021 Waiting for healthy demand Australian iron ore fines 62% Fe stayed at the same level over the day, while its futures on the DCE increased by $2.1/t on March 24. Nevertheless, business activity was slow amid unstable moods of the market players. All in all, the situation in the steel segment is unclear. It seems like there are too many controversial drivers at the moment. In the meantime, rebar futures jumped by $15.5/t, Tangshan billet was raised by $6.1/t. Asia. South Korean importers finally closed a deal for May shipment with a Russian supplier. Actually, 35,000 t of A3 from Russia changed hands at $425/t CFR South Korea. This deal is the first one in trading relations between South Korea and Russia since the second half of February. Quotes for the material from other destinations are heard at around $404/t CFR South Korea for Japanese HMS 2 and at $431/t CFR South Korea for HMS 1 from the US. Turkey. There were no changes in the import scrap market in Turkey since March 24. The daily price estimation of HMS 1&2 (80:20) from the US remains at the same level as yesterday. Buyers are still insisting on negative corrections in scrap quotes, while suppliers from the Baltic region, the UK and Europe refuse to accept levels below $410/t CFR Turkey for the same grade. READ MORE... 24 March 2021 Downtrend in the finished steel segment Turkey. Downward trend in the import scrap market is strongly supported by the absence of fresh deals and negative sentiment. HMS 1&2 (80:20) from the US is estimated at $415/t CFR Turkey on the fourth week of March. Europe. Nominal price level moved down as downtrend prevails in the global market. HMS 1&2 (80:20) from Rotterdam is assessed at $377/t FOB, while HMS 1&2 (75:25) from the same region is at $372/t FOB. Australian iron ore fines 62% Fe improved over the day. The price jumped to $161.75/t, following upturn in iron ore futures on the DCE in May contracts (+$5.4/t). The sudden spike was caused by increased activity in the market as well as better steel demand. However, insiders do not believe that such price level will stay for a long time as restrictions in Tangshan city have a great influence on the sector. 250,000 t of iron ore fines were booked on trading platforms on March 23. READ MORE... 23 March 2021 Not much interest Turkey. The price assessment for HMS 1&2 (80:20) from the US remains at the same level as there were no fresh deals in the market yet. And not so many are expected in upcoming week. Suppliers are still waiting for the improvement in demand, while mills do not show much interest in the material now. Moreover, some importers are pushing for negative corrections in scrap tags. Russia. Prices were recently revised in the Russian finished steel segment. A3 in the Central District increased to $361-367/t, while the same material in the Ural District had jumped to $352-364/t. A3 delivered by trucks in the Southern has widened to $333-368/t, while A3 delivered by railway is estimated at $352-357/t. Australian iron ore fines 62% Fe went down to $156/t CFR, following the same decrease in its futures in May contracts on the DCE. The main reason for the sharp drop remains the same – Tangshan’s strict measures against emission rate. READ MORE... 22 March 2021 Silent market Turkey. Import scrap market is in a wait-and-see mode at the beginning of the fourth week of March. Offers for HMS 1&2 (80:20) from the Baltic region are at around $420/t CFR Turkey. Actually, the assessment for HMS 1&2 (80:20) from the US is at $425-427/t CFR Turkey. Meanwhile, Turkish domestic finished steel segment is following global downtrend. Producers have revised prices due to stronger national currency at the end of last week. Australian iron ore fines 62% Fe weakened by $4/t to $160/t CFR, following bigger drop in its futures on the DCE (-$7.2/t). The main driver for the downward adjustment is that Tangshan government has strengthened emission restrictions in the city for the remainder of 2021. READ MORE... 19 March 2021 One more step back Turkey. Some fresh deals were recently heard in the finished steel segment. As soon as they were reported, HMS 1&2 (80:20) from the Baltic region and Europe lost another $2-5/t in the current offers. All in all, the quotes moved down by $5-10/t over the week. In the mid-March a mixed lot from the Baltic region was traded at the average price of $433/t CFR Marmara. In that deal HMS 1&2 (80:20) was estimated at $430/t CFR Marmara. The same grade from Europe was sold at $425/t CFR Izmir a short while ago. Considering the price level in the most recent deals and the sentiment in the import scrap market, HMS 1&2 (80:20) from the US is assessed at $427/t CFR Turkey. Asia. Due to the upcoming holidays, scrap market in Bangladesh was reasonably active and mostly stable. 32,000 t of shredded material from the US were purchased at $460/t CFR Bangladesh. HMS 1&2 (80:20) from South America was bought at around $450/t CFR Bangladesh, while the same material from Australia changed hands at around $440/t CFR Bangladesh. Offers for shredded scrap from the US are at $460-470/t CFR on the third week of March. Tags for HMS 1&2 (80:20) from South America are estimated at around $440/t CFR Bangladesh. H2 from Japan is quoted at $450/t CFR Bangladesh. Tokyo Steel announced a reduction in HMS 2 price. The material moves down by $4.6/t since March 19. Australian iron ore fines 62% Fe gained $0.5/t amid sudden improve in demand. Its futures on the DCE added $3.2/t in May contracts over the day. READ MORE... 18 March 2021 Market on a pause, except for short-sea deals Turkey. Sluggish demand and negative sentiment influence the import scrap market. Neither sellers nor buyers are ready for negotiations. Everybody is looking for some clarifications. Suppliers are waiting for the growth of interest, thus increase in prices. Meanwhile, importers are pushing for bigger discounts. However, a fresh short-sea deal was heard in the market – HMS 1&2 (80:20) from the Baltic region was traded at $395/t CFR Marmara. Considering absence of deep-sea purchases, HMS 1&2 (80:20) from the US is estimated at $430/t CFR Turkey. Australian iron ore fines 62% Fe decreased again in the middle of the week. The price went down by $2.5/t to $163.5/t CFR. The drop in iron ore futures on the DCE in May contracts was not significant – only -$0.3/t. Nevertheless, 170,000 t of iron ore fines were booked on trading platforms on March 17. Market players doubt any drastic mount in price in the nearest future as the major issue regarding supply was mostly resolved. Actually, Vale, Brazil’s mining giant, announced an increase in production at its filtration plant at Vargem Grande complex. READ MORE... 17 March 2021 Silent scrap market, iron ore improves on easing restrictions Turkey. Nothing changed over the day in the import scrap market. Prices remained low and stable amid absence of negotiations and sluggish demand. HMS 1&2 (80:20) from the US is estimated at $435/t CFR Turkey. Japan. About 20,000 t of HMS 2 were sold to a South Korean importer at $407/t CFR this week. However, other possible trade directions are silent. There are no negotiations with Russia or the US. Actually, offers for Russian A3 are heard at $425-430/t CFR, while HMS 1 from the US is estimated at $430-435/t CFR. Australian iron ore fines 62% Fe rose to $166/t CFR, following even bigger increase in its futures in May contracts on the DCE. The spike was driven by partly eased restrictions on emission rate in Tangshan city. After the announced by the government relief, trading activity improved in the seaborne market. 560,000 t of iron ore fines were booked on trading platforms. Positive sentiment also pushed prices at ports. All in all, market participants do not have high expectations as restrictions in Tangshan city will probably get worse, - the government is willing to reduce emissions in 2021. READ MORE... 16 March 2021 Negative sentiment, sluggish demand Turkey. Quotes for HMS 1&2 (80:20) from the US dropped to $435/t CFR Turkey as negative sentiment prevails in the import scrap market in the mid-March. However, the real offers for the same grade from the Baltic region are heard at $430/t CFR Turkey. Without doubt, sellers are not ready for such rough corrections, while buyers insist on further decrease in scrap tags. Meanwhile, more companies in the Turkish local market announced new downward movements in purchase price for domestic material amid sluggish demand. Actually, the drop is quite wide, from $7/t to $53/t depending on region. Russia. Tough competition among mills continues this week, while bids for the material are going up. A3 in the Central region is heard at around $328-343/t. The same grade in the Ural district is quoted at $339-358/t. Tags for A3 material delivered by rail are stable, while A3 delivered by trucks soared to $333-369/t. Australian iron ore fines 62% Fe plunged to $163.5/t CFR, following even bigger decrease in its futures on the DCE in May contracts. Tangshan reduces steel production in order to control emission’s rate in the city. Moreover, the price was also affected by Vale’s increased iron ore supply at Timbopeda site. Thus, market participants do not believe that iron ore quotes have a chance to move up this week. READ MORE... 15 March 2021 The future as always depends on demand Turkey. Prices are still waning in the import scrap market on March 15. Last week ended with significant corrections in the scrap purchase prices. A mixed lot from the Baltic region was traded at the average price of $442/t CFR Marmara. Another deal at lower levels was closed with a supplier from the same region. In that contract HMS 1&2 (80:20) was estimated at $435/t CFR Marmara. Considering the most recent deals, HMS 1&2 (80:20) from the US dropped to $437/t CFR Turkey in the middle of the month. Taking into account global market downtrend, prices in the domestic segment also moved down. Many producers announced a step down in prices for local scrap. Purchase prices slid by $13-26/t over several days. Asia. As expected, import scrap market in Asia followed the international one. Price trend turned to negative after the latest deals were reported. Actually, offers for shredded scrap from the UK, the US and Europe are heard at around $435/t CFR Pakistan, $465/t CFR Bangladesh. US HMS 1 is estimated at $450/t CFR Bangladesh. The same material from the UAE is quoted at $410/t CFR India. All in all, Bangladeshi, Indian and Pakistani import scrap markets are stressed because of sharp decrease in prices over the last week. Market participants suppose that scrap tags will fall on the third week of March as well. Australian iron ore fines 62% Fe collapsed from $171/t CFR to $165.5/t CFR, following the same decrease in its futures on the DCE. The price moved down due to the negative sentiment and concerns over output cuts in Tangshan city. READ MORE... 12 March 2021 Insiders predicting a cut in prices Turkey. The assessment for HMS 1&2 (80:20) from the US decreased to $449/t CFR Turkey on March 11 amid slow business activity and negative sentiment. Actually, there are a lot of offers in the market and buyers are trying to achieve lower prices in negotiations. HMS 1&2 (80:20) from Europe and the Baltic region is estimated at $440-446/t CFR Turkey. Market participants are expecting further step down in the nearest future. It was clear that local finished steel segment will follow the global one. Purchase prices for the domestic scrap moved down by $4-17/t. As import tags are constantly decreasing, local material is expected to drop further. South Korea. Despite global downtrend, quotes for A3 material from Russia stay at the same level as two days before as well as quotes for the US HMS 1 ($440/t CFR and $443/t CFR respectively). HMS 2 from Japan is assessed at $414/t CFR South Korea versus $433/t CFR South Korea two weeks ago. Australian iron ore fines 62% Fe skyrocketed to $171/t CFR due to positive sentiment in the steel market caused mostly by speculations. Meanwhile, iron ore futures on the DCE added $8.2/t in May contracts. READ MORE... 11 March 2021 Scrap market slowed down Turkey. Import scrap market stands still on March 11. Nominal prices went down amid lower indications for the material from the US. Actual quotes for HMS 1&2 (80:20) from the Baltic region and Europe are around $444-450/t CFR Turkey. The estimation if the same material from the US was at $453/t CFR on March 10. In any case, Turkish mills are insisting on discounts, while suppliers are trying to drive a hard bargain. Still, there a lot of scrap offers in the market right now, so producers do have wide choice. Despite negative sentiment in the steel market, Australian iron ore fines 62% Fe improved to $164.25/t CFR. In the meantime, iron ore futures on the DCE increased by $1.4/t in May contracts over the day. The price was supported by better seaborne trade. Actually, 510,000 t of iron ore fines were booked on trading platforms yesterday. Nevertheless, demand remains small amid low moods of market participants. READ MORE... 10 March 2021 Is the time of high prices is over? Turkey. Prices for the material from the US decreased in the most fresh deals. HMS 1&2 (80:20) is estimated at lower levels than it was two days ago. Recently, HMS 1&2 (80:20) from the US was priced at $456/t CFR Izmir. The same grade from another US seller was traded at $453/t CFR Iskenderun. Due to the drop of scrap quotes from the US, buyers are insisting on the same reduction in quotes of the material from the Baltic region and Europe. Actually, HMS 1&2 (80:20) from the US decreased to $453/t CFR Turkey. Market participants are worried about the nearest future of the segment as the sentiment turned to negative on March 9. Russia. In contrast with Turkey, Russian scrap market is alive and kicking with constantly increasing prices amid tough competition among suppliers. Exporters in the Central region offer A3 material at $328-343/t, while price range for the same material in the Ural district moved to $337-356/t. Bids for A3 delivered by trucks are at $325-340/t CPT mill in the South of Russia. Meanwhile, A3 delivered by railway is still at the same level - at $342-343/t. Australian iron ore fines 62% Fe went down to $164/t CFR, following decrease in its futures on the DCE in May contracts. Rebar futures also lose down by $15.9/t on March 9. The price moved due to the reduced production in Tangshan as well as worsened moods of the players. READ MORE... 09 March 2021 Scrap price inches up amid fresh deals Turkey. The new wave of uptrend started few days ago continues on the second week of March amid fresh deals in the import scrap market. An exporter from the Baltic region sold HMS 1&2 (80:20) and bonus material to a Marmara-based producer. In that deal HMS 1&2 (80:20) was estimated at $458.5/t CFR. A mixed lot of 28,000 t in total from the same seller, including same grades of scrap, was traded to a mill from Iskenderun region at the average price of $462/t CFR Iskenderun. A new contract was signed with the US exporter for a mixed batch. HMS 1&2 (80:20) was priced at $465/t CFR Iskenderun. Considering underway negotiations and recently closed deals, HMS 1&2 (80:20) from the US is assessed at $465/t CFR. Asia. Prices in the Asian market were also revised, following the upward tendency in Turkey. Actually, offers for shredded material from the UK are heard at $478-480/t CFR Pakistan on March 9. Yesterday the same grade was bought from the UK at $465/t CFR Pakistan. In the Bangladeshi import scrap market prices also moved up at the beginning of the month. Despite firm demand, importers are inactive as nobody understands future market scenario. As for now, shredded material from Europe is estimated at around $495/t CFR Bangladesh. Japanese H2 is heard at $490/t CFR Bangladesh. HMS 1 from the US is offered at $470/t CFR Bangladesh. Australian iron ore fines 62% Fe waned to $174.25/t CFR, after its futures on the DCE went down by $7.2/t in May contracts. The reduction of steel output in Tangshan city affected iron ore price as well as worsened demand. Rebar futures decreased by $23.6/t, while Tangshan billet lost $15.4/t over one day. READ MORE... 05 March 2021 Gaining scrap market Turkey. Step by step brightens the situation in the import scrap market amid recently closed deals. Buyers are interested in procurement for April shipments. However, they are trying to steer clear of escalating prices. Still, an uptrend seems like inevitable. A lot of 32,000 t from the Baltic region, including HMS 1&2 (80:20), shredded scrap and bonus grade, was traded to a mill from Karadeniz region at higher prices. HMS 1&2 (80:20) was estimated at $461/t CFR, while bonus material was priced at $471/t CFR. In the other deal between Latvian exporter and Iskenderun-based producer HMS 1&2 (80:20) was at $455/t CFR. Taking into account new levels, HMS 1&2 (80:20) from the US is assessed at $461/t CFR Turkey. Australian iron ore fines 62% Fe jumped to $178/t CFR, following twice as big increase in its futures on the DCE. Two main drivers for the upsurge arose from Brazil and China. First of all, market players were concerned about reduced production in China. The second issue became lockdown in Brazil which caused the rise in iron ore price. Due to price escalation only 270,000 t of iron ore fines were booked on trading platforms on March 4. READ MORE... 04 March 2021 Wait-and-see mode Turkey. Finished steel segment sank into silence at the very first week of spring. Market participants prefer to be in the wait-and-see mode on March 4 as nobody can predict even the nearest future of the price. However, everyone hope for the best. Lately, no fresh deals were closed in the Turkish import scrap market. Despite absence of business activity, purchase prices remain at the same level. HMS 1&2 (80:20) from the US is estimated at $456/t CFR Turkey. Australian iron ore fines 62% Fe went up to $176.5/t CFR, following an increase in its futures in May contracts on the DCE. The uptrend is pushed by escalating steel prices caused by reduced production in China. Rebar futures and Tangshan billet were also supported by bullish moods. The former gained $17/t, while the latter added $21.7/t. In the meantime, only 260,000 t of iron ore fines were booked on trading platforms yesterday. READ MORE... 03 March 2021 Silent mid-week Turkey. Import scrap market stays calm in the mid-week, while mills do not rush to buy material at higher levels. However, producers are interested in procurement for April shipments. Thus, they are trying to find cargoes at sharp price. In the meantime, exporters are aware of the whole market situation and are waiting for the moment when a need of restocking becomes critical. As for now, HMS 1&2 (80:20) from the US is assessed at $456/t CFR Turkey, unchanged for the last several days. Asia. Prices are currently rising in the Japanese market. Tokyo Steel announced another boost of the HMS 2 purchase price – plus $4.7/t at all its assets on March 3. Australian iron ore fines 62% Fe increased to $175.25/t CFR, following an uptrend in its futures on the DCE which gained $3.4/t over the day in May contracts. Rebar futures added $14.4/t, while Tangshan billet jumped by $1.5/t during last two days. All in all, prices were supported mostly by improved trading activity. Actually, 320 000 t of iron ore fines were booked on trading platforms. READ MORE... 02 March 2021 Exporters are pushing prices amid healthy demand Turkey. The first week of spring began with raised but stable prices amid firm demand, positive sentiment and optimistic expectations. Nevertheless, no fresh deals were disclosed in the market. Offers in negotiations for HMS 1&2 (80:20) from the Baltic region and Europe are starting at $460/t CFR Turkey. Meanwhile, HMS 1&2 (80:20) from the US East Coast is assessed at $456/t CFR Turkey. Market participants suppose that price tags will certainly go up this week. Europe. The increasing trend in Turkey influences European segment as well. Prices are moving up amid bullish moods of the market players. Last week several deals were closed on higher levels – HMS 1&2 (80:20) from the Baltic region was traded at $450-456/t CFR Turkey, the same material from Belgium – at $449/t CFR Turkey. Supported by healthy demand, scrap quotes will certainly continue to increase in the import market. Actually, insiders are talking about reaching new highs in March. Russia. Nominal prices were revised in the Russian market at the beginning of March. In the Ural Federal District A3 tags are estimated at $339-358/t. A3 in the Central District widened to $313-333/t. The same material delivered by rail in the South of Russia moved up to $343-344/t, while A3 delivered by trucks dropped by $9-11/t CPT mill. Australia iron ore fines 62% Fe waned to $174.5/t CFR due to the worsened sentiment. Iron ore futures on the DCE also decreased - by $2.9/t in May contracts. READ MORE... 01 March 2021 Catching uptrend Turkey. Negotiations are underway in the Turkish scrap market. Mills still have a tangible need in procurement for April shipments. Being aware of buyer’s interest, sellers are raising their tags poco a poco. Actually, offers for heavy melting scrap 1&2 (80:20) from the US were heard at $490/t CFR Turkey in some bargaining. However, the daily estimation of the same material from the US East Coast was only at $456/t CFR Turkey on the last days of winter. Fresh deals also support price increase. A mixed lot (including HMS 1&2 (80:20) and bonus grade) from Russia was traded at the average price of $457.5/t CFR Marmara last week. Another batch was sold from northern Europe to Iskenderun-based mill. In that deal HMS 1&2 (80:20) was priced at $452.5/t CFR Iskenderun. An importer from Marmara purchased A3 from the southern region of Russia at $452/t CFR. Insiders believe that uptrend in the finished steel segment will last on the first week of March. Asia. Asian market is closely following the one in Turkey, inching up scrap prices amid firm demand and bullish moods. Prices for Japanese H2 in most recent offers increased to $450/t CFR Vietnam. HS from Japan is estimated at $495/t CFR Vietnam after an exporter from Japan sold 6,000 t of scrap at $487/t CFR Vietnam. HMS 1&2 (80:20) from the US is offered at $440/t CFR Vietnam on March 1. Tags for Japanese HMS 2 are at $423/r CFR South Korea. Meanwhile, Tokyo Steel announced an increase of the purchase price (+4.7-9.4/t) at all assets. READ MORE... 26 February 2021 Positive sentiment supports price increase Turkey. More deals were concluded in the Turkish finished steel segment as business activity remains high at the end of February. Actually, the material from the US, Europe and Russia was traded at higher levels. A mill from Marmara region bought HMS 1&2 (80:20) from Russia at $450/t CFR after the purchase of the same material from the US at $447/t CFR. Another importer booked HMS 1&2 (80:20) from the US at $451/t CFR. A mixed lot from Europe was traded at the average price of $453/ CFR. Considering continuing positive moods and uptrend in the market, HMS 1&2 (80:20) from the US is estimated at $454/t CFR Turkey. Asia. Scrap tags were resumed in most recent offers both from European and local suppliers. Buyers are unwilling to accept increase in nominal prices. Still, shredded material from European exporters is offered at around $463/t CFR India versus $445/t CFR India on the third week of February. Australian iron ore fines 62% Fe went up to $174.25/t CFR amid improved demand in China. 440,000 t of iron ore fines were booked on trading platforms on February 25. READ MORE... 25 February 2021 Continuing procurement Turkey. Nominal prices are moving up amid firm demand and bullish sentiment. Mills continue procurement for March and April shipments. A fresh deal with the US supplier caused another raise in the scrap tags. Actually, a mixed batch including HMS 1&2 (80:20) and bonus grade was traded at the average price of $452/t CFR Marmara. Thus, HMS 1&2 (80:20) from the US is estimated at $447/t CFR Turkey. Meanwhile, local Turkish scrap market is actively following global trend. Some mills resumed purchase prices for domestic material by $8-48/t. Insiders believe that escalating will continue on the first week of March. Europe. European market is under the influence of Turkish one. Purchase prices are constantly increasing amid fresh deals. HMS 1&2 (80:20) from Europe is assessed at around $440/t CFR, while HMS 1&2 (75:25) from Rotterdam is estimated at $411/t FOB. As demand weakened and supply reduced, Australian iron ore fines 62% Fe remained stable at $173/t CFR on February 24. However, iron ore futures on the DCE added $3.5/t in May contracts amid optimistic moods. READ MORE... 24 February 2021 Bullish moods prevail in the market Turkey. A new wave of active purchasing swept the import scrap market at the end of February. Prices went up amid bullish moods and firm demand. A Baltic supplier sold HMS 1&2 (80:20) and bonus grade price at $445/t CFR Iskenderun and $455/t CFR Iskenderun respectively. This batch of total amount of 25,000 t will be shipped in early April. Considering uptrend in the segment, HMS 1&2 (80:20) from the US is estimated at $445/t CFR Turkey on February 23. Asia. Finished steel segment in all Asian countries is following global upward trend. Thus, tags for the material jumped in the most recent deals. HMS 1 from the US was bought at $443.5/t CFR South Korea. A3 from Russia is assessed at $435-440/t CFR South Korea. Japanese HMS 2 is offered at $423/t CFR South Korea. In the meantime, some more fresh deals were disclosed in the Pakistani scrap market. Shredded material from the UK was sold at $460/t CFR Port Quasim. READ MORE... 20 February 2021 Strong expectations in the market influence the price Turkey. Turkish mills are highly interested in the material for March and April shipments. However, fresh deals were not reported in the import scrap market yet. Insiders believe that active negotiations will start on Monday. Thus, the purchase price for the material will increase. As for now, estimation of HMS 1&2 (80:20) from the US moved to $423/t CFR Turkey amid bullish moods and high expectations. South Korea. Prices in the South Korean market are escalating, following global uptrend in the finished steel segment. Offers for HMS 2 from Japan gained $25-34/t over the week. Actually, quotes for the material are heard at $407-417/t CFR South Korea. A3 from Russia is estimated at $415/t CFR South Korea, while HMS 1 from the US jumped in price to $420/t CFR South Korea. Europe. Positive sentiment in the global market influences prices in Europe as well. HMS 1&2 (80:20) from Europe is assessed at $415/t CFR on February 20. Indicative prices increased by $7.5/t over 4 days. Market players are waiting for a big wave of purchasing as the majority of producers are looking for the material for spring shipments. READ MORE... 19 February 2021 Finished steel segment improves amid fresh deals Turkey. After the most recent deal in the import scrap market, prices for the material went up. A supplier from the US sold HMS 1&2 (80:20) at $418/t CFR Marmara fro March shipment. Thus, the actual price for heavy melting scrap 1&2 jumped by $8/t in one week. Market participants are waiting for the further increase in the sector. HMS 1&2 (80:20) from the US is estimated at $418-420/t CFR Turkey on February 19. Asia. There were no deals in the Vietnamese import market as the majority of the players were on holidays during last week. H2 from Japan is offered at $430/t CFR Vietnam, while HS from the same region is assessed at $470/t CFR Vietnam. Participants of the market are expecting the price to grow next week as Chinese buyers will be in the market from Monday. In the meantime, the largest Japanese producer raised its price again. Tokyo Steel increased purchase price for HMS 2 by $4.7/t at three works. This escalation of quotes is the third in one week. READ MORE... 18 February 2021 Still and stable market Turkey. Stability does not make happy participants of the market as everybody is waiting for the first steps. Time moves on and buyers need not only material for March shipments anymore but for April as well. Thus, demand can be considered as self-evident. However, there are no fresh deals in the import scrap market. Insiders believe that next week should be fruitful and price will certainly increase. As for now, estimation of HMS 1&2 (80:20) from the US remains at $415/t CFR Turkey. Pakistan. Being the leader of the segment, Turkey influences many markets all over the world. Pakistani one is not an exception. Thuswise, prices began to move up in the most recent deals after first upward movements in Turkey at the beginning of the month. Scrap material from Europe and the UK is offered at $450/t CFR Pakistan. Many buyers do not show interest in restocking as they are presuming further increase in scrap tags. Europe. Despite foreseeable uptrend in the Turkish import scrap market, the situation in European finished steel segment is not as bright and exciting. E3, E8 and E40 materials from Germany are estimated at around EUR 320/t delivered, EUR 330/t delivered and EUR 335/t delivered respectively. Offers moved down by EUR 5-15/t over last two weeks. Nevertheless, market players are predicting raise in prices closer to the end of February. READ MORE... 17 February 2021 Waiting for the first move Turkey. It seems like the market is still on February 17. However, ongoing negotiations and the fact that Chinese players will come back from holidays tomorrow only assure insiders that prices will certainly jump in the nearest future. Yet, Turkish mills need to resume procurement for March shipments. Anyway, prices did not move during last days and HMS 1&2 (80:20) from the US is still estimated at $415/t CFR. The trend in the finished steel segment is going to clarify after first deals will be closed. Japan. Purchase prices for HMS 2 keep rising at the largest Japanese steel producer, Tokyo steel. For the second time during the week the price for the material went up. HMS 2 is assessed at around $350.7-369.7/t at different assets. At first price was raised only at Utsunomiya work, but after that all other parts of the company lifted their levels amid bullish sentiment in the market. READ MORE... 16 February 2021 Quiet scrap an iron ore markets Turkey. Active negotiations are underway in the Turkish import scrap market. However, there were no fresh deals heard as buyers do not accept higher levels and are trying to avoid increase in purchase price. As a result, estimation for HMS 1&2 (80:20) from the US is still at $415/t CFR Turkey. Meanwhile, prices in the domestic scrap market are moving up amid positive sentiment and considering global upward trend. South Korea. South Korean finished steel segment is quiet as well. Actually, the majority of market participants are celebrating New Year. Besides, quotes for the scrap material are low. Despite certain bullish tones in Turkey, South Korean buyers are waiting for the clarification of the trend. Offers for HMS 2 from Japan are indicated at $375-385/t CFR South Korea. A3 material from Russia is estimated at $391/t CFR South Korea. HMS 1 from the US is offered at $398/t CFR South Korea. Australian iron ore fines 62% Fe remain at $163.5/t CFR on February 16 as market players are still on holidays. READ MORE... 15 February 2021 Scrap prices are increasing Turkey. The second week of February came off well with a positive sentiment and firm demand in the finished steel segment. Still, HMS 1&2 (80:20) from the US East Coast was estimated at $415/t CFR Turkey. It seems like this week there will be more signed contracts in the import scrap market as Turkish buyers are in need of the material for March shipments. By the way, last deals with US suppliers were closed at $410/t CFR for HMS 1&2 (80:20). Vietnam. The Vietnamese steel segment caught the common spirit of uptrend and was commonly following it last week. Nevertheless, the market was silent. Quotes for H2 material from Japan were heard at $410/t CFR Vietnam. In the meantime, HMS 1&2 (80:20) from the US is estimated at $420/t CFR Vietnam. As the whole country went on holidays, insiders do not expect high buying activity next days. India. Silence is prevailing for the moment in the Indian market as demand is still sluggish. Market players believe that the situation is about to change on the third week of February. Shredded material from Europe is offered at $410-415/t CFR Nhava Sheva/Mundra. READ MORE... 12 February 2021 Mills in need of procurement Turkey. Prices are shinning in the import scrap market as many fresh deals were recently closed. A mixed lot of 30,000 t from the US, including HMS 1&2 (80:20), shredded material and bonus grade, was bought by an Iskenderun-based mill for March shipment. In that deal HMS 1&2 (80:20) was estimated at $410/t CFR. Thus, prices in actual offers for HMS 1&2 (80:20) from the US are heard at around $417-420/t CFR. Taking into account improved demand and positive sentiment, HMS 1&2 (80:20) from the US East Coast is assessed at $415/t CFR. Europe. Due to the upward trend, quotes for scrap material in Benelux also increased. Considering few fresh deals closed this week in Turkey, price estimation of HMS 1&2 (80:20) from Rotterdam also added few points and is at $383.5/t FOB. Meanwhile, HMS 1&2 (75:25) from Rotterdam was assessed at $378.5/t FOB on February 11. Australian iron ore fines 62% Fe stays at the same level amid total silence in the segment. The majority of market participants are celebrating New Year. Holidays will last till the 17th of February. In the meantime, some insiders sounded a note of warning as Brazil’s supply is constantly increasing and in the long run it can cause decrease in the purchase price. READ MORE... 11 February 2021 First steps changed the sentiment Turkey. Sentiment changed to positive in the finished steel segment after a number of fresh deals. Yesterday a deal was disclosed in the import scrap market – a batch of HMS 1&2 (80:20) from Venezuela was traded at $395/t CFR to a Marmara-based producer. Another one was signed with a supplier from Russia. Yet, the daily assessment for HMS 1&2 (80:20) from the US moved to $400/t CFR Turkey. Actually, offers for the same material from the US are heard at $407-410/t CFR on February 11. Europe. Despite the current quite optimistic trend in Turkey, some European suppliers do not rush to increase their prices for domestic scrap material. This way, Italian sellers are keeping low their tags for E8 and E40 (at around EUR 335-345/t and EUR 330-335/t). Australian iron ore fines 62% Fe remained at the same price on February 10 as most of the market participants are already on holidays. There are no fresh bookings on trading platforms. The entire segment seems to freeze in the moment before official days off. However, iron ore futures on the DCE added $1.6/t over the day amid optimistic expectations of the players. READ MORE... 10 February 2021 Breaking the ground Turkey. Finally, mills are showing interest in procurement. It can be considered as breaking the ground in the import scrap market – a fresh deal was recently heard. A mixed batch from the UK, including HMS 1&2 (80:20), shredded scrap and bonus grade, was traded to a Karadeniz-based mill. Heavy melting scrap 1&2 (80:20) was estimated at $391/t CFR in that transaction. This way, the deal with the UK supplier could make the turn in the trend. Anyway, price quotes for HMS 1&2 (80:20) from the US increased to $398/t CFR Turkey on February 09. Australian iron ore fines 62% Fe moved up to $163.5/t CFR, following its futures price escalation (by $5/t) on the DCE over the day. The increase is produced by the reduced shipments from Australia and Brazil. Nevertheless, there were no fresh bookings on trading platforms on February 09 as many market participants almost took holidays. READ MORE... 09 February 2021 Flat but low Turkey. The import scrap market was stable and silent on February 8. There were no fresh deals heard as the sentiment is still negative, although some negotiations were underway. Many mills are expected to restock in the nearest future. Thus, suppliers are ready to pursue the talks. As for current estimation, HMS 1&2 (80:20) from the US was estimated at $395/t CFR Turkey. Despite stable price level in the global finished steel segment, some Turkish producers reduced their prices for domestic scrap. Vietnam. In general, prices began to rise from the beginning of February. Poco a poco, tags for scrap material are increasing in new offers for the material from Japan. Insiders believe the reason for the upturn is that price level fell to the lowest (around $380/t CFR) at the end of January. This way, Japanese H2 is quoted at $395-405/t CFR Vietnam as for now. Australian iron ore fines 62% Fe increased to $160.5/t CFR, following its futures in May contracts on the DCE which gained $3.6/t over the weekend. Actually, 50,000 t of iron ore fines were booked on trading platforms yesterday. READ MORE... 08 February 2021 Finished steel market revives little by little Turkey. Two deals with the suppliers from the UK for March shipment were closed during last week. HMS 1&2 (80:20) was estimated at $386.5/t CFR and $399/t CFR. One more deal was also disclosed – HMS 1&2 (80:20) from Poland was traded at $380/t CFR Marmara. At the moment demand is sluggish, thus prices keep decreasing. HMS 1&2 (80:20) from the US is estimated at $395/t CFR Turkey. In the meantime, Turkish producers lowered purchase prices for local material by $2-4/t as well, following global downtrend in the finished steel segment and due to the pessimistic moods among market players. Bangladesh, Pakistan, South Korea. Prices are still waning in Asia amid negative sentiment and low market requirements. Unlike Pakistan, the majority of market participants in Bangladesh were active during last week. However, tags for shredded material from the US lost almost $10/t over the week. In spite of the reduction, there are some active negotiations in the field. Yet, 1 000 t of HMS 1&2 from Africa were traded to Bangladesh at $400/t CFR at the end of last week. As it was reported, around 17 000 t in total of shredded material from the UK and Canada were bought at $405-410/t CFR. Shredded scrap was also purchased by the other importer from Pakistan at $395/t CFR. Meanwhile, offers for HMS 2 fell to $331.3/t FOB South Korea. Actually, a batch of A3 from Russia was traded at $391/t CFR South Korea. HMS 1 from the US (in the amount of 45 000 t) was bought at $398/t CFR South Korea. All in all, buyers do not accept upward movements in prices as for now. The tendency is still unclear. Australian iron ore fines 62% Fe went down to $156/t CFR due to the low demand. The situation does not seem to recover soon as national holidays in China will certainly affect the market. Nevertheless, iron ore futures on the DCE added $2.1/t on February 5. READ MORE... 05 February 2021 Most players in the wait-and-see mode Turkey. There were no changes in the import scrap market. Demand is still sluggish amid low activity in the finished steel segment. Insiders believe that the situation will clear up closer to the middle of the next week. As for now, HMS 1&2 (80:20) is still assessed at $400/t CFR Turkey. India. Prices are moving down in the Indian import scrap market as well. Actually, tags lost almost $10/t over the last week. Offers for shredded material from Europe are mostly at $400/t CFR Nhava Sheva, Mundra. Australian iron ore fines 62% Fe managed to grow to $158.5/t CFR due to the lower production capacity of the great Vale. Iron ore futures on the DCE also went up by $6.7/t. Market players suppose that there will be shortage in the steel market for some months due to the results of the largest Brazil’s producer last year. In the meantime, as price for iron ore fines 62% Fe climbed to the new level, buyers showed less interest in booking the material. Actually, only 160,000 t were traded on platforms on February 4. READ MORE... 04 February 2021 Iron ore improved on new bookings Turkey. Due to the absence of fresh deals as well as negotiations in the import scrap market, HMS 1&2 (80:20) from the US was estimated at $400/t CFR Turkey on February 3. Negative sentiment and sluggish demand only intensified the gap between suppliers and buyers. Meanwhile, price in the local finished steel segment are still waning, following global trend. Turkish producers cut their scrap tags as moods are pessimistic amid low market requirements. After a great dip Australian iron ore fines 62% Fe were able to improve due to increased interest for the material at such price level. Iron ore fines were estimated at $152.5/t CFR on February 3. The plunge stir market players into new deals. Thus, about 450,000 t of fines were booked on trading platforms yesterday. READ MORE... 03 February 2021 Lasting course of waning Turkey. Sentiment remains negative in the Turkish import scrap market. Prices are falling amid low demand and negative moods. HMS 1&2 (80:20) from the US is offered at $405/t CFR Turkey in the middle of the first week of February. Due to the downward trend, Turkish domestic scrap market also reduces prices for local material. India. Indian government has announced import duty reduction in the new financial year, from April, 1, 2021 till March 31, 2022. Adoption of such measure is caused by worsened situation in the local steel segment. Participants of the market are definitely satisfied with such developments. However, some players are afraid of possible increase in purchase price of domestic materials. Australian iron ore fines 62% Fe dropped more than by $7/t to $148.85/t CFR yesterday. Such huge slide in prices happened amid weakened fundamentals and sluggish demand. Upcoming holiday season also adds pressure on the whole segment. READ MORE... 02 February 2021 Negative sentiment prevails as for now Turkey. Prices for finished steel dipped down in the import scrap market amid fresh deals. Actually, in the most recent contract with the US supplier, HMS 1&2 (80:20) was estimated at $405/t CFR Marmara, while bonus grade was priced at $415/t CFR Marmara. Moreover, HMS 1&2 (80:20) from Venezuela was traded at $400/t CFR. Thus, offers for HMS 1&2 (80:20) from the US are heard at around $405/t CFR Turkey. In view of the above-mentioned, negative sentiment prevails in the segment as for now. However, all participants of the market understand that the trend will have to change its direction in the nearest future. South Korea. Despite global downtrend and waning prices, one of the Korean importers went in for new contract at the end of the January. Ipso facto, 45,000 t of HMS 1 from the US were bought at $398/t CFR South Korea. Australian iron ore fines 62% Fe moved down to $156/t CFR after its futures on the DCE lost almost the same amount over the day. As Tangshan is trying to reduce emissions, the city cuts production of steel. Due to this, Tangshan billet decreased by $7.1/t on February 1. READ MORE... 01 February 2021 After all, the need of shipments for March is nearby Turkey. HMS 1&2 (80:20) from the US East Cost is estimated at around $414-415/t CFR Turkey amid obscure situation in the import scrap market. After a negative price correction in the most recent deals with US suppliers, market participants are waiting for new contracts in order to clarify the price trend. Insiders still believe that scrap tags will soon increase as mills have to buy material for March shipments. Europe. As expected, European finished steel segment follows global decrease in prices for scrap material. Most of the market players are in wait-and-see mode as nobody wants to break the ground. HMS 1&2 (80:20) from Rotterdam was priced at $376/t FOB at the very end of January. Australian iron ore fines 62% Fe increased to $157.5/t CFR due to improved trading on platforms. In the meantime, its futures on the DCE also went up amid active buying. All in all, 680,000 t of fines were booked on trading platforms at the end of last week. READ MORE... 29 January 2021 Twisted situation in the finished steel segment Turkey. Situation in the import scrap market is rather complex. While some of the market participants are still waiting for lower tags, others expect an increase in quotes in the nearest future. Actually, a fresh deal was disclosed recently. A mixed lot from the US, consisting of HMS 1&2 (80:20), shredded material and bonus grade, was traded to a steelmaker from Iskenderun region. HMS 1&2 (80:20) was estimated at $416/t CFR. Taking into account fresh deals, HMS 1&2 (80:20) from the US East Coast is assessed at around $414-415/t CFR Turkey at the end of January. South Korea. Finished steel segment is facing hard times. Prices for scrap are falling down, while demand also does not amuse. Bids for HMS 2 from Japan are heard at $359/t CFR versus $375/t CFR few days ago. Australian iron ore fines 62% Fe decreased to $156.25/t CFR, following the same drop in its futures on the DCE. The first huge plunge in 2021 is caused by both pessimistic moods among market players and sluggish demand. Rebar futures also went down amid the current sentiment in the segment (-$17/t). READ MORE... 28 January 2021 Scrap importers insist on lower tags Turkey. HMS 1&2 (80:20) from the US East Coast is still estimated at $413/t CFR Turkey in the middle of the last week of January. Actually, there are no fresh deals as negative sentiment prevails in the import scrap market. Buyers are not going to accept price levels higher than $410/t CFR at the moment as they do not feel dire necessity as for now. However, some of the market players believe that scrap tags will go up in the first weeks of February as mills will have to restock. The situation did not take on quite a different turn in the local market. Prices keep falling amid global downward trend. South Korea. Purchase prices are going down in the Korean market as well. A batch of 10,000 t of HMS 2 from Japan was traded at $375/t CFR South Korea earlier this week. Yet, quotes for scrap material from other distances are decreasing amid the whole tendency. Australian iron ore fines 62% Fe got to $165.25/t CFR on better expectations and following recently improved futures on the Commodity Exchange in Dalian. As it is anticipated that demand for steel in China will rebound in 2021, moods among participants brightened. READ MORE... 27 January 2021 Global downtrend continues Turkey. Due to the most recent deal with a supplier from the UK, HMS 1&2 (80:20) is assessed at $413/t CFR Turkey, down by $19/t over the day. A mixed lot of 23,500 t from the UK was traded to a mill from Izmir region. HMS 1&2 (80:20) was estimated at $408/t CFR, while shredded material – at $419/t CFR. Expectations of the majority of market participants did not change, they are still expecting price increase in the nearest future as mills will have to restock. Europe. As it was mentioned above, the deal between the UK and Turkey affected the market. Price assessments for finished steel material dropped all over the world. Taking into account global downward trend, HMS 1&2 (80:20) from Rotterdam is priced at $381/t FOB on the last week of January. The same material from Europe is estimated at $405/t CFR. Meanwhile, iron ore fines 62% Fe from Australia plunged to $164.5/t CFR after China’s government announced a decrease of steel production in 2021. Therefore, futures on the DCE also lost $3.2/t. READ MORE... 26 January 2021 Silence absorbed market Turkey. There were no changes in the import scrap market within a day. Buyers insist on lower quotes for scrap, while sellers do not except such low levels. HMS 1&2 (80:20) from the US East Coast is still assessed at $435/t CFR Turkey on January 25. Some of the market participants suppose that as many mills will soon need the material for March shipments, price will be pushed by suppliers. Both sluggish demand and global downtrend for ferrous scrap resulted in further decrease in prices for domestic material in Turkey. Pakistan. Last week one fresh deal with a supplier from the UK was disclosed in Pakistani scrap market. 6,000 t of shredded material were traded at $435/t CFR. Offers for the same material were heard at $425-430/t CFR on January 25. HMS 1 from the UAE is estimated at $380/t CFR. Australian iron ore fines 62% Fe went down to $168.75/t CFR despite its futures in May contracts on the DCE were stable over the day. Demand for the raw material was weak on January 25. Only 190,000 t of iron ore fines were booked on trading platforms. However, insiders have optimistic moods as they expect price to increase amid upcoming restocking of mills. READ MORE... 25 January 2021 Small surprise scrap tags remain same position Turkey. HMS 1&2 (80:20) from the US East Coast is still assessed at $435/t CFR Turkey amid silence in the deep-sea segment. However, some fresh deals were closed with short-sea suppliers. HMS 1&2 (80:20) from Romania was traded at $426/t CFR Karadeniz. All in all, prices keep going down due to negative sentiment. Insiders believe that tags are will certainly reach $400/t CFR soon. More and more local companies reduce their purchase prices for the scrap. Participants of the Turkish domestic market are following global downward trend. Coronavirus has affected not only finished steel market all over the world. One of the most affected segments is the cruise industry. Many vessels of various types were sold to shipbreaking yards as COVID-19 made adjustments in 2020. Most likely this situation will not improve in 2021. The yards in Aliaga were overcrowded at the end of last year. If in the previous years there were only small-sized ships, in 2020 mainly cruises had been dismantled. According to GEMISANDER (Ship’s Recycler’s Association of Turkey), around 800,000 t of ships are already expected to come to Aliaga this year. For example, a total weight of 855,000 t of ships was dismantled during 2020. Benelux. European market is following global price trends. Companies are revising prices, reducing current levels. Thereby, HMS 1&2 (80:20) from Rotterdam is assessed at $406/t FOB, while HMS 1&2 (75:25) from Rotterdam is estimated at $401/t FOB. As expected, there were no deals with buyers from Asia. Shredded material is offered at around $425/t CFR Nhava Sheva/Mundra. Australian iron ore fines 62% Fe went down to $169.5/t CFR, after its futures in May contracts on the DCE softened by $2.2/t. Two main drivers for this step down are active booking on trading platforms (510,000 t on January 22) and Vale’s restart of pellet production. READ MORE... 22 January 2021 Pessimistic moods rule the roost Turkey. Prices are going down amid silent import scrap market. Pessimistic moods of participants of the market also influence scrap tags. As a result, HMS 1&2 (80:20) was assessed at $435/t CFR Turkey on January 21, 2021. Local scrap market follows global trend step by step. Turkish mills are reducing prices for the domestic material by $1-3/t. Market players expect further decrease amid negative sentiment. India. Marketing requirements are lowering in the Indian market as well. Taking into account situation in the Turkish steel segment, importers are insisting on lower quotes. Offers for shredded material from the UK are heard at $425-440/t CFR. HMS 1 from the UAE is estimated at $370-380/t CFR. Australian iron ore fines 62% Fe went up to $170.5/t CFR, following a little step up in its futures on the DCE. The forthcoming cyclone is the main driver of price increase. Meanwhile, seaborne trading worsened. Actually, there were no fresh deals on trading platforms. READ MORE... 21 January 2021 Negative corrections in the price Turkey. A fresh deal was closed with a Swedish supplier. A mixed lot of 29,000 t was traded at the average price of $443/t CFR Marmara for a March shipment. HMS 1&2 (80:20) was estimated at $440/t CFR, shredded scrap was at $445/t CFR and bonus grade was priced at $450/t CFR. Due to the diminishing price in the most recent deals, HMS 1&2 (80:20) from the US East Coast is assessed at $440/t CFR Turkey. South Korea. Scrap market took a step down, following the global trend. HMS 2 from Japan is offered at $404/t CFR South Korea. All in all, tags for scrap are waning. However, there were not actual deals with the revised prices. Offers from the US and Russia are also at lower levels. Russian A3 is estimated at around $430/t CFR, while HMS 1 from the US is at around $440/t CFR. Benelux. Downward movement continues in the European market as well. The actual assessments for HMS 1&2 (80:20) and HMS 1&2 (75:25) both from Rotterdam are at $411/t FOB and $406/t FOB respectively. Australian iron ore fines 62% Fe went down to $169/t CFR amid low commercial activities. Meanwhile, its futures in May contracts on the DCE added $2/t on speculations about supply cut due to the cyclones. READ MORE... 20 January 2021 Further decrease in scrap prices Turkey. A significant drop in the purchase price caused further decrease in the price assessment for HMS 1&2 (80:20) from the US East Coast. The material lost $10/t over the day. Heavy melting scrap 1&2 (80:20) was estimated at $450/t CFR Turkey on January 19. Thus, buyers are still insisting on negative corrections in underway negotiations. In the most recent deal, a lot of 30,000 t from the US was priced at the average price of $457/t CFR Marmara. HMS 1&2 (80:20) was estimated at $450/t CFR. Benelux. Due to the downtrend in the Turkish import scrap market, price assessments for the material from Rotterdam also scaled back. HMS 1&2 (80:20) is estimated at $421/t FOB, while HMS 1&2 (75:25) is assessed at $416/t FOB. Australian iron ore fines 62% Fe plunged to $170.05/t CFR amid sluggish demand, following the decrease in its futures on the DCE (-$4.5/t). Lower price resulted in higher activity at trading platforms. 440,000 t of iron ore fines were booked yesterday. READ MORE... 19 January 2021 Prices waning amid negative sentiment Turkey. Import scrap market was in a lull on January 18. Moreover, prices began to move down amid silence and negative sentiment. As buyers are looking for lower levels in possible fresh deals, HMS 1&2 (80:20) from the US East Coast was assessed at $460/t CFR Turkey. Meanwhile, suppliers are waiting for some clarifications and do not quote the material. Insiders believe that in the nearest future scrap tags will certainly go down as there are no apparent reasons for sellers to push the price. Domestic market follows suit as local mills are reducing purchase price for scrap. Some companies announced a decrease of about $14-21/t for domestic scrap. Turkish local finished steel segment is always following global trends. Benelux. European market is also under downward trend, following Turkish moods. HMS 1&2 (80:20) is assessed at $431/t FOB Rotterdam, while HMS 1&2 (75:25) is estimated at $426/t FOB. All price decreased by at least $10/t at the beginning of the third week of January. Actually, there no active negotiations as both sellers and buyers prefer not to rush. Australian iron ore fines 62% Fe went up to $173.5/t CFR, after its futures in May contracts on the DCE gained $3.5/t. As production restrictions in Tangshan were softened and China’s NBS announced a record in crude steel output in 2020, prices increased amid disclosed news. READ MORE... 18 January 2021 Scrap market at crossroads Turkey. Last week ended with a significant decrease in the price assessment for HMS 1&2 (80:20) from the US East Coast. It was at $470/t CFR Turkey, down by $10/t over the day. The main reason is negative sentiment among participants of the market. What’s more, a deal from Europe with the average price for the imported material at $465/t CFR was disclosed at the end of the week. Thus, offers for HMS 1&2 (80:20) are waning, being at $460-465/t CFR. Nevertheless, suppliers are trying to increase price level in negotiations. Meanwhile, buyers reject all possible upward trends. Insiders believe that scrap quotes will go down further on the third week of the year. South Korea. Import scrap market was not active at the beginning of January. However, some Japanese suppliers sold around 50,000 t of HS scrap during last week. 30,000 t of HMS 2 from Japan were traded at $438/t CFR South Korea. The other deal of about 20,000 t of HS from Japan was sold at $448/t FOB. Actually, there were no fresh deals with Russian or the US sellers. Tags for A3 from Russia are at $445/t CFR, while HMS 1 from the US is offered at $460/t CFR. India. Prices went down after a long holiday period amid global uncertainty in the finished steel segment. Market is quiet, there are no active negotiations. Offers for HMS 1 from the UAE are heard at $415-420/t CFR. As for now, buyers are concerned about the possible downtrend in the global scrap market. They are waiting for further steps of Turkish importers. Australian iron ore fines 62% Fe moved up by $1.1/t to $172.5/t CFR, in spite of a little step down in May contracts in futures on the DCE. Business activity was snail-paced on January 15 amid increased price for iron ore fines. READ MORE... 15 January 2021 Still market Turkey. Nothing has changed in the Turkish import scrap market within a day. Importers are still avoiding active negotiations as they insist on negative correction of the price level for the material. Meanwhile, suppliers are not ready to reduce their tags. Thus, HMS 1&2 (80:20) from the US East Coast was assessed at $485/t CFR on January 14. Australian iron ore fines 62% Fe went up to $171.4/t CFR amid firm demand in the segment and following an increase in its futures on the DCE. Imports to China have already escalated by 9.5% in 2020. In the meantime, seaborne trade was mostly quiet yesterday. Tangshan billet went down by $1.5/t, while rebar futures were stable. READ MORE... 14 January 2021 A lull in the scrap market Turkey. Turkish import scrap market was in a lull on January 13. One more deal was recently disclosed – a mixed lot from Finland was traded to a mill from Marmara-region at the average price of $484.6/t CFR. The batch included HMS 1&2 (80:20), shredded scrap and bonus grade. HMS 1&2 (80:20) was estimated at $478/t CFR in that deal. As per insider’s information, the deal was closed last week. Thus, it does not affect price level in current market. Importers are looking for the material for February shipment but they are trying to reach lower prices. In the meantime, suppliers do not accept such corrections in scrap tags. Due to the absence of active negotiations as well as fresh contracts, HMS 1&2 (80:20) from the US East Coast is assessed at $485/t CFR Turkey. Europe. There are few factors that have a direct influence on the situation in the German scrap market. As many countries are under lockdown or under special regulations worked out by the government, scrap availability is rather low. Taking into account strong market in Turkey and firm demand for finished steel, purchasing prices went up, gaining EUR 80-95/t since mid-December. Some of the market participants suppose that quotes for scrap are going to be stable in the nearest future. However, others prefer not to make any forecasts amid unstable situation in the Turkish market. Australian iron ore fines 62% Fe waned to $168.5/t CFR, following the same decrease in its futures on the DCE. 370,000 t of iron ore fines were booked on trading platforms on January 13. READ MORE... 13 January 2021 Expecting the increase in scrap prices Turkey. Steel segment was silent over the day with just a few negotiations going on. Actually, there were no fresh deals in the Turkish import scrap market. HMS 1&2 (80:20) from the US East Coast is still assessed at $485/t CFR Turkey. Market participants prefer not hurry into active negotiations. However, steelmakers do need to continue procurement for February. This way, insiders expect further increase in purchase price in upcoming deals. Italy. Finished steel segment gradually recovers after a long holiday period. Buyers are ready for increased level of prices. Still, suppliers are pushing prices in order to close deal at higher numbers. In fact, offers for E3, E8 and E40 materials were heard at EUR 325/t, EUR 345-350/t and EUR 340/t respectively on January 12. Australian iron ore fines 62% Fe increased to $171/t CFR, following a move in its futures on the DCE. The main driver for this slight step up is reduced shipments from the major suppliers amid high business activity in China. Nevertheless, 250,000 t of iron ore futures were booked on trading platforms yesterday. READ MORE... 12 January 2021 Several fresh deals in the finished steel segment Turkey. As it was expected, lately some deals were disclosed in the import scrap market. Price tags for the material were higher than in the previous contracts. Basically, four deals were closed with suppliers from the USA. HMS 1&2 (80:20) was estimated at $478-481/t CFR. The same material from Latvia was priced at $478/t CFR Izmir. Two more contracts were heard from Europe. HMS 1&2 (80:20) from Netherlands was sold at $474/t CFR Izmir, while HMS 1&2 (75:25) from Netherlands was priced $471.5/t CFR Turkey in the most recent deal. 10,000 t of scrap material from Romania were traded at $460-465/t CFR Turkey. HMS 1&2 (80:20) from the US East Coast is assessed at $485/t CFR Turkey. As for now, prices are pushed by both firm demand and slow collection. Insiders suppose that the indicative price level is going to get higher this week. Australian iron ore fines 62% Fe was priced at $170.5/t CFR on January 11 due to the active purchasing of steelmakers. 530,000 t of iron ore fines were booked on trading platforms yesterday. Despite this after-holiday wave of restocking, the forecast is quite unclear as there are many reasons that can affect the price level. READ MORE... 11 January 2021 Poco a poco recovers the market after holidays Turkey. 2021 started without abrupt movements in the import scrap market. Prices are stable amid silent holiday period. However, everybody is waiting for a new wave of purchasing as mills need the material for February shipments. HMS 1&2 (80:20) from the US East Coast is assessed at $475/t CFR Turkey. In general, offers for the same material from the Baltic region are heard at $466/t CFR. Russia. The finished steel segment is in a lull due to a long period of holidays from the beginning of 2021. Bids for A3 material from Rostov-on-Don are estimated at $470/t CFR, while A3 from St. Petersburg is offered at $473-475/t CFR. Purchase prices at ports are mostly stable amid pending rising of export duty from January 31, 2021. Australian iron ore fines 62% Fe were at $167.25/t CFR at the end of last week. Futures in May contracts on the DCE waned by $0.9/t. Actually, 840,000 t of iron ore fines were booked on trading platforms. However, insiders expect price to go down amid coronavirus spreading and worsening moods. READ MORE... 30 December 2020 Business activity slowed down two days before New Year Turkey. The nearest forecast for the import scrap market is unclear. As prices are high and stable, sellers and buyers do not hurry to close fresh deals. The former are considering further increase in prices at the beginning of January, realizing growing need for procurement of the latter. Actually, all market players are already waiting for holidays. Thus, there are not so many offers for scrap material for now. HMS 1&2 (80:20) from the US East Coast is still assessed at $475/t CFR Turkey two days before New Year’s Eve. Australian iron ore fines 62% Fe moved down to $159/t CFR after decrease in its futures in May contracts on the DCE (- $2.3/t). The price waned due to increased shipments of iron ore from Australia and weaker tags for finished steel. In the meantime, Tangshan billet lost $4.6/t, while rebar futures went down by $1.5/t. About 370,000 t of iron ore fines were booked on trading platforms on December 29. READ MORE... 29 December 2020 Silent market amid holidays Turkey. Considering silence in the import scrap market, HMS 1&2 (80:20) from the US East Coast is assessed at $475/t CFR Turkey on last Monday of 2020. Some insiders are convinced that active procurement will continue after the holiday period as mills still have a need in the material for February shipments. Participants of the market are worried about situation in Europe, where events changed drastically amid new coronavirus strain. Japan. Despite silence in the global steel segment, Tokyo Steel increased purchase prices for HMS 2 by $9.7/t to $415.7/t at one of the assets. Russia. Scrap market in Russia is gaining momentum amid competition between suppliers. Moods of the participants are rather bullish. Price tags for A3 material in the Ural Federal District are at $299-333/t. A3 delivered by railway is offered at $345-347/t in the Southern Federal District. The same material delivered by trucks is at $343-358/t CPT mill. In the Central District A3 is quoted at $314-347/t. Australian iron ore fines 62% Fe went down to $160/t CFR, following the decrease in its futures on the DCE. The main reason is slowed trading activity along with steel price sag. Actually, there were no fresh deals on trading platforms almost a week now. However, market players are expecting a new wave of price increase after holidays. READ MORE... 28 December 2020 Buyers are trying to avoid new deals at these levels South Korea. Right before Christmas holidays, South Korean importers decided to take a break and wait before closing new deals. Buyers are trying to avoid increase in purchase prices as they are not interested in purchasing at current levels, while sellers are raising offers for the material. HMS 2 from Japan is estimated at least at $428/t CFR South Korea. A3 from Russia is quoted at $445/t CFR South Korea. Meanwhile, HMS 1 from the US is offered at $460/t CFR South Korea. Russia. The uptrend was moving forward in the Russian scrap market at the end of last week. Both supply shortage and higher level of prices for domestic material are pushing nominal prices for A3 grade. Offers for A3 from St. Petersburg are heard at $473/t CFR Turkey. The most recent deal was closed at $444/t CFR in the mid December. Benelux. In the north-west European steel segment rushing prices finally slowed down amid holiday period. There were no fresh deals with Asian buyers due to the lack of containers and higher prices. However, some offers were heard in the market. Shredded material was offered at $450-355/t CFR. In the meantime, HMS 1&2 (80:20) from Rotterdam is assessed at $446/t FOB, while HMS 1&2 (75:25) is estimated at $441/t FOB. READ MORE... 25 December 2020 Price assessment for scrap remains the same despite fresh deals Turkey. Despite some fresh deals in the import scrap market, the price assessment for HMS 1&2 (80:20) from the US East Coast remains at $475/t CFR Turkey. Producers are trying to avoid further increase in the scrap tags. However, sellers are still pushing prices because of the unstable situation with coronavirus pandemic. In the new most recent deal, a lot of 30,000 t from the US was traded at the average price of $474.5/t CFR Izmir. HMS 1&2 (80:20) was estimated at $473/t CFR Izmir. A batch of shredded scrap from Sweden was purchased by a mill from Marmara region at $480/t CFR. Domestic scrap tags are also rising amid global uptrend. Some Turkish mills increased purchasing price for local material by $13-35/t. Australian iron ore fines 62% Fe went up by $1.5/t to $162/t CFR after its futures on the DCE moved up on December 24. READ MORE... 24 December 2020 Scrap tags stayed calm in the mid of the week Turkey. HMS 1&2 (80:20) from the US East Coast is still assessed at $475/t CFR Turkey on December 23. Only one new deal was reported in the import scrap market. A batch of 10,000 t of Russian A3 was traded to a mill from Karadeniz region priced at $470/t CFR. This deal was in a row with the previous one from Denmark. However, exporters continue to raise prices for scrap tags, being aware of limited supply. Offers for HMS 1&2 (80:20) from the Baltic region are heard at $475-480/t CFR Turkey. China. The restrictions made by Chinese government in July regarding import duty are finally cancelled. China is going to eliminate import duty for ferrous scrap from the 1st January 2021. However, some kinds of scrap are going to remain under the duty of 2%. Due to the imposition of limits on the iron ore futures by the DCE, Australian iron ore fines 62% decreased by $4.5/t to $160.5/t CFR. Rebar futures waned by $13/t, while Tangshan billet lost $22.9/t. In the meantime, iron ore prices are going to rise in January in Russia amid recent sharp increase in January formula-based contracts during November and the first half of December. Moreover, the uptrend is supported by US dollar strengthening. Thus, prices for iron ore will gain 16-17%. READ MORE... 23 December 2020 Stiff prices in the scrap market Turkey. It almost became a usual thing in the import scrap market – skyrocketing prices do not hesitate to move on. Both the shortage of material and strong demand of mills are pushing prices. Meanwhile, buyers cannot help but accept new levels. A deal with a Denmark supplier was discloseStid yesterday. The steelmaker from Karadeniz region bought 23,000 t at the average price of $476/t CFR. HMS 1&2 (80:20) was estimated at $470/t CFR Karadeniz in that deal. Taking into account stiff price in the most recent deal with a Danish supplier, price level for HMS 1&2 (80:20) from the US East Coast jumped by $13/t to $475/t CFR Turkey over the day. Benelux. Almost the same increase (around $12.5/t) is seen in the daily assessments for the material from Rotterdam. HMS 1&2 (80:20) is estimated at $446/t FOB, while HMS 1&2 (75:25) is assessed at $441/t FOB. Insiders still expect further price escalation in the finished steel segment due to the low availability of the material. Australian iron ore fines 62% Fe went down by $10/t to $165/t CFR, following even bigger plunge in its futures on the DCE in May contracts ($13.7/t). The Dalian Commodity Exchange made some arrangements to cut speculations on supply shortage. It reduced iron ore trading limits in futures contracts for non-futures companies to 2 000 trading lots per day. The total number of May contracts went down by almost 13%. Thus, price gouging slowed down on December 22. Actually, 420,000 t of iron ore fines were booked on trading platforms yesterday due to the market fell. READ MORE... 22 December 2020 Prices soared both for iron ore and scrap Turkey. Fresh deals were recently disclosed in the Turkish import scrap market. As expected, prices went up further, being pushed by suppliers. A mixed lot of 47,000 t from the Netherlands was bought by a Turkish company for February shipment. It is confirmed that 20,000 t of HMS 1&2 (80:20) priced at $455/t CFR along with 20,000 t of shredded material priced at $470/t CFR, 5,000 t of bonus grade priced at $470/t CFR and 2,000 t of busheling priced at $475/t CFR were traded to a mill from Marmara region. Considering new deal, HMS 1&2 (80:20) from the US East Coast is assessed at $462/t CFR Turkey. Turkish domestic scrap market is also announcing uptrend. Some mills increased the purchase price for the local material by $41-144/t. Russia. Market participants are neither to hold nor to bind because of the draft law regarding scrap export regulations. A few days ago, the Ministry of Economic Development prepared a draft of law to raise the duty by more than two times (up to EUR 45/t). This law can be ordained in January. The main idea is to refocus suppliers on domestic market instead of exporting materials. While consumers support possible changes, exporters strongly oppose them. Australian iron ore fines 62% Fe soared to $175/t CFR, following the same increase in its futures on the DCE in May contracts. Speculations on the supply cut pushed prices up on December 21. Insiders suppose that is uncontrolled uptrend will last for a while as many players are worried about supply reduction from Brazil as well as difficult situation with shipments due to cyclones in the north west Australia. READ MORE... 21 December 2020 Few days of silence Turkey. For the first time in several weeks the price assessment for HMS 1&2 (80:20) from the US East Coast did not change over the weekend. The material is still estimated at $450/t CFR Turkey. However, market players expect further increase in the price as many mills have a great need in procurement. In the import scrap market demand remains strong mostly due to the limited supply. Russia. Despite some days of silence in the Turkish finished steel segment, Russian ferrous scrap market is gaining momentum. Exporters are raising price quotes for A3 material. A3 scrap from the Southern Districts is offered at $440-445/t CFR Turkey. Meanwhile, the same material from the Baltic region is estimated at $450/t CFR Turkey. Insiders believe that suppliers are going to sell the material at higher levels this week. South Korea. Last week ended with a significant increase in prices. Price for HMS 2 from Japan was set at least at $405.6/t FOB. Quotes for HMS 1 from the US are at $460/t CFR South Korea, having increased by $25-30/t over the week. A3 from Russia is offered at $445/t CFR South Korea. Participants of the market keep a wary eye on the developments in the ferrous market. India. Prices in the import scrap market are rising amid global uptrend, containers shortage and bullish sentiment. Last week only 1,000 t of shredded material was bought from the UK and Europe priced at $435/t CFR India. Offers for the same material from the UK are heard at $435-440/t CFR. HMS 1 from the UAE is offered at $400-405/t CFR. As import scrap is constantly going up in price, many importers switched their attention to the local segment. Australian iron ore fines 62% Fe surged to $163.75/t CFR after the increase ($7.2/t) in its futures on the DCE. Agiotage amid supply cut became one of the drivers for the spike. The low rate of exporting from Brazil and forecasted willy-willies in the north-west of Australia can cause even a bigger shortage of iron ore. Meanwhile, rebar futures gained $21.6/t, Tangshan billet added $6.1/t. READ MORE... 18 December 2020 Over and over again scrap prices are jumping up Turkey. On December 18 it seems like price surge will not stop till the end of the year. The increase is constant as sellers are pushing scrap quotes. Meanwhile, buyers are accepting new levels due to the need in material for February shipments. A new deal with a supplier from Finland was closed a day ago. 13,500 t of HMS 1&2 (80:20), 14,000 t of shredded scrap, 3,000 t of bonus material and 2,000 t of busheling were bought by a mill from Karadeniz region at $450/t CFR, $460/t CFR, $460/t CFR and $470/t CFR respectively. Another mill from Marmara region purchased a mixed lot from Saint-Petersburg, containing HMS 1&2 (80:20) priced at $444/t CFR and bonus material priced at $454/t CFR. The price assessment for HMS 1&2 (80:20) from the US is at $450/t CFR Turkey. Benelux. As Turkish market sets the pace, Benelux finished steel segment is following and revising prices. HMS 1&2 (80:20) from Rotterdam is assessed at $421/t FOB, while HMS 1&2 (75:25) from Rotterdam is estimated at $416/t FOB. Vietnam. Limited supply along with global uptrend and strong demand are moving up prices in the Vietnamese market as well. Japanese H2 is offered at $440-450/t CFR Vietnam. HMS 1&2 (80:20) from Australia is quoted at $440-445/t CFR Vietnam. Offers for HMS 1&2 (50:50) from Hong Kong are heard at $425/t CFR Vietnam. In the meantime, there are no offers from the US as suppliers are waiting for price to grow up more. Australian iron ore fines 62% Fe went up to $157.85/t CFR after its futures on the DCE added $2.9/t in May contracts. There are many factors that support the price, the most significant ones are strong steel production and healthy demand. READ MORE... 17 December 2020 Nobody expected such scenario Turkey. Turkish mills continue the procurement for both late January and February shipments. More deals are disclosed in the market. A steelmaker from Karadeniz region bought 7,500 t of bonus grade and 4,500 t of busheling priced at $439/t CFR and $450/t CFR respectively. A lot from Germany with HMS 1&2 (80:20) priced at $435/t CFR was traded to a mill from Iskenderun. Considering recent deals, HMS 1&2 (80:20) from the US East Coast is assessed at $438/t CFR Turkey in the mid-December. Japan. For the seventh time since beginning of the first winter month, Tokyo Steel raised price at three its own works. HMS 2 is estimated at $348.3-372.5/t at Utsunomiya, Kyushu, Okayama. Italy. Italian scrap market is following global uptrend, revising domestic scrap prices. Some insiders believe that the bullish tendency will continue for a while, at least till January 2021. Prices for local material gained EUR 10-20/t in two weeks. E3 material is estimated at EUR 260-270/t delivered, E40 – at EUR 270-295/t delivered, E8 – at EUR 280-285/t delivered. It seems as if buyers are tired from the constant increase. However, they are still accepting new levels. Benelux. HMS 1&2 (80:20) from Rotterdam is estimated at $409/t FOB, while HMS 1&2 (75:25) from Rotterdam is assessed at $404/t FOB. Market participants are at a stand about current situation in the finished steel segment as the increase does not stop for about a month. Australian iron ore fines 62% Fe went up to $156.5/t CFR, following increase in its futures on the DCE (+2.1/t). As demand is high and futures are strong, price began to recover from the previous decline. READ MORE... 16 December 2020 Tempest of price increase Turkey. Due to the recent deal with a supplier from Benelux, Turkish import scrap market revised prices again. HMS 1&2 (80:20) along with bonus grade, priced at $421/t CFR and $431/t CFR respectively, was traded to a Marmara-based mill. Thus, the price assessment for heavy melting scrap 1&2 (80:20) from the US East Coast increased to $428/t CFR Turkey. Suppliers are pushing purchase prices more as demand remains firm and moods of players are optimistic. Turkish domestic market is also under the influence of global uptrend. More mills revised their scrap tags, raising the price by $21-42/t. Russia. Intense increase in the prices is driven by tough competition (even among exporters) in the Russian scrap market. A3 is quoted at $293-300/t in the Ural Federal District. In the Southern Federal District the same material delivered by rail is at $292-296/t. A3 delivered by trucks is priced at $294-323/t CPT mill. Tags for A3 in the Central Federal District are at $279-298/t. Australian iron ore fines 62% Fe moved up to $155/t CFR. In the meantime, its futures on the DCE rose by $4.3/t in May contracts. Spot prices also improved due to strong fundamentals. READ MORE... 15 December 2020 Upsurge in scrap prices Turkey. The majority of participants of the scrap market are looking at the price level in disbelief as it moved up by $22/t over the week. Suppliers are pushing prices in new deals. A mixed batch from Sweden with HMS 1&2 (80:20) and shredded material priced at $419/t CFR and $429/t CFR respectively, was bought by a Marmara-based mill recently. Taking into account new accepted price level, heavy melting scrap 1&2 (80:20) is assessed at $425/t CFR Turkey. Prices in the domestic finished steel segment are also increasing, following global upward trend. Thus, some mills added around $22-47/t to the purchase price for scrap. Benelux. As buyers accepted new high tags for scrap material, the price assessment for HMS 1&2 (80:20) and HMS 1&2 (75:25) from Rotterdam jumped to $396/t FOB and $391/t FOB respectively. Insiders believe that the price is going to surge further. Australian iron ore fines 62% Fe moved down by $5.5/t to $154.25/t CFR, following decrease of its futures on the DCE. The reason for such sharp waning is that Samarco resumed its production after a long pause. READ MORE... 14 December 2020 Global uptrend continues in the mid-December Turkey. The price assessment for the HMS 1&2 (80:20) increased to $405/t CFR Turkey after two more deals were disclosed. A mixed lot of 37,500 t from Benelux was traded to a Marmara-based mill. In that deal HMS 1&2 (80:20) was priced at $397/t CFR. A steelmaker from Karadeniz region bought from the same supplier a mixed batch, consisting of 15,000 t of HMS 1, 10,000 t of HMS 1&2 (75:25), 5,000 t of shredded scrap and 2,500 t of rails. The average price of that deal is estimated at $397.5/t CFR. As for now, offers for HMS 1&2 (80:20) from the Baltic region and the US are at $410/t CFR and higher. Market participants expect this week to be as intense as the previous one. Meanwhile, in the Turkish domestic scrap market prices are rising as well. On Friday 11 many local companies moved their price tags up due to global increase in the finished steel market. India. Offers for shredded material from the UK, Europe and the USA were raised to $405-410/t CFR last week on uptrend in the scrap market all over the world. Nevertheless, sellers are still pushing prices. HMS 1 from the UAE is offered at $385-395/t CFR. However, buyers do not accept such levels, trying to get into the ‘wait-and-see’ position. Russia. Upward trend extends in Russian scrap market with prices hitting 7-year high. A3 material from Rostov-on-Don was purchased at $395/t CFR Turkey. The same material from St. Petersburg was traded at $370/t CFR Turkey. Market players believe that prices will surge further in the mid-December. Australian iron ore fines 62% Fe went up to $159.75/t CFR, following the same increase in its futures on the DCE. Main drivers are still the same – speculations, firm demand and strong fundamentals. As it is known, at the end of the year the north of Australia usually suffers from willy-willies. This year is not an exception as a cyclone moves to a Pilbara region. Thus, it can cause supply reduction due to interruptions in shipments. There were no fresh deals on trading platforms at the end of last week, while prices at ports also increased (by $15.3/t). READ MORE... 11 December 2020 Impossible is nothing if interest in the materials is so strong Turkey. Due to the shortage of material and difficulties with its collecting, scrap quotes were moving up on December 10. The assessment for HMS 1&2 (80:20) from the US East Coast increased to $400/t CFR Turkey on short-sea price surge. A supplier from Rostov-on-Don sold 5,000 t of A3 material priced at $395/t CFR Karadeniz. Market participants are questioning the uptrend which, by the way, is underway for almost 3 months. Some players suppose that the advance will continue next week. Japan. Prices for HMS 2 increased by more than $70/t over the last month. The material from Japan is offered at $370.4/t on the second week of December. Japanese market was not ready for such a jump in the scrap tags. However, many scrap dealers expected a certain move in prices. Meanwhile, Tokyo Steel for the third time in last weeks increased the price for HMS 2 to $306.2-339.6/t. Benelux. As in the short-sea deal price exceeded psychological threshold, asessments for the material from Rotterdam also moved further. HMS 1&2 (80:20) from Rotterdam is at $373.5/t FOB, while HMS 1&2 (75:25) is at $368.5/t FOB. Australian iron ore fines 62% Fe keep moving up due to active speculations, tight supply and strong demand. The price is at $157/t CFR on December 10. READ MORE... 10 December 2020 It's all about tight supply and firm demand Turkey. HMS 1&2 (80:20) from the US East Coast is assessed at $390/t CFR Turkey on December 9 due to the recent deals closed at higher levels. Prices are surging amid firm demand, limited supply and positive sentiment in the finished steel market. As a result, many participants of the market expect tags for HMS 1&2 (80:20) to move up to $400/t CFR next week. Anyway, this week a supplier from Benelux sold a mixed lot of 30,000 t, consisting of HMS 1&2 (75:25), shredded material and bonus grade. The average price in that deal was $385/t CFR. Benelux. Assessment for the material from Rotterdam is rising as well. HMS 1&2 (75:25) is quoted at $354.5/t FOB, while HMS 1&2 (80:20) is at $359.5/t FOB. Australian iron ore fines 62% Fe went up to $150/t CFR, following a bit smaller increase in the futures on the DCE (only +$1/t over the day). And again, this surge is about strong demand and supply shortage. Market players are surprised with such rates of procurement in the first month of winter. However, some insiders do not believe in a long life of such uptrend. READ MORE... 09 December 2020 Surging price in the finished steel market Turkey. Offers for import scrap are going up in the Turkish market. Quotes for HMS 1&2 (80:20) from the US are at $380/t CFR Turkey. Meanwhile tags for the same material from the Baltic region and Europe are a bit lower, starting at $370/t CFR. Actually, 14,000 t of HMS 1&2 (80:20) from Lithuania were bought by a mill from Marmara region for December shipment at the same price as in the last-week-deal from St. Petersburg ($370/t CFR). Heavy melting scrap from the US East Coast is assessed at $375/t CFR Turkey for the second day in a row due to lack of fresh deals. Pakistan. Little wonder that prices in the Pakistani import scrap market are increasing as well. Global uptrend, especially seen in the Turkey, influences the level of prices for the scrap material. Therewithal, low availability of containers is the additional reason for the upsurge. Shredded material from the UK priced at $395/t CFR along with HMS 1&2 (80:20) from the UAE at $385/t CFR and busheling from the UAE priced at $408/t CFR by a mill from Pakistan. Another lot from the UK changed hands at $392/t CFR. The other seller from the same region closed deal with the price of $400/t CFR for shredded scrap this week. Thus, prices in offers are raised to $400-405/t CFR. Price for Australian iron ore fines 62% Fe remains at $147/t CFR despite a little drop ($0.2/t) in its futures on the DCE. Steadiness of price is caused both by lowered shipments from Australia and weaker trade. READ MORE... 08 December 2020 Reasons the prices are pushed Turkey. Prices are spiking in the import scrap market amid new deals closed at higher levels. Last week ended with a considerable number of $375/t CFR for HMS 1&2 (80:20). 22,000 t of HMS 1&2 (80:20) from Estonia (priced at $375/t CFR) were traded to a Marmara-based steelmaker along with 3,000 t of bonus grade at $385/t CFR for February shipment. A supplier from St. Petersburg sold HMS 1&2 (80:20) at $370/t CFR Izmir. Thus, heavy melting scrap 1&2 (80:20) from the Baltic region is offered at $370-375/t CFR, that is plus $15/t over the weekend. Sellers derive benefit from the importer’s requirement of the material, raising tags and pushing nominal prices. HMS 1&2 (80:20) from the US East Coast is assessed at $375/t CFR Turkey. As anticipated, prices for the local scrap are also moving up due to global upward trend. Some Turkish sellers moved their buying prices by $13-41/t for domestic material. Russia. The competition among mills is getting harder, so prices are still going up. A3 material in the Central Federal District is at $263-275/t. The same material in the Ural Federal District is assessed at $264-268/t. A3 delivered by trucks is at $279-305/t CPT in the Southern District. Market participants expect price to continue the uptrend in the nearest future. Australian iron ore fines 62% Fe moved to $147/t CFR, following its futures on the DCE which gained $2.4/t at the end of last week. Reduced supply and bullish moods of the market players are pushing the price despite the upcoming cold season. READ MORE... 07 December 2020 It's hard to believe, but iron ore price is over $140/t Turkey. Negotiations are underway in the Turkish import scrap market. Mills still have to restock, and many steelmakers are already buying the material for late January or February shipments. Meanwhile, suppliers continue to raise their prices on low availability of scrap and firm demand. Offers for HMS 1&2 (80:20) from the US and Baltic region were heard around $360-365/t CFR Turkey. HMS 1&2 (80:20) from the US East Coast is assessed at $363/t CFR Turkey. Vietnam. Prices are going up in Vietnamese finished steel segment as well. 10,000 t of Japanese H2 were bought at $360/t CFR Vietnam. It seems like the upward trend will remain in the market for the nearest week at least. Insiders expect prices for the material from Japan to reach $370/t CFR Vietnam. These days, sellers from the US prefer to sell HMS 1&2 (80:20) to Turkey, rather than to Vietnam. The reasons are both the cheaper freight and more sustainable market. Therefore, HMS 1&2 (80:20) from the US is estimated at $375-380/t CFR Vietnam. Australian iron ore fines 62% Fe surged to $145/t CFR after its futures on the DCE moved up by $5.3/t. Engine of growth are increased buying activity in the raw material segment and supply reduction. What’s more, iron ore port inventories lowered to 128.7 million t in the first days of December. READ MORE... 04 December 2020 Across the board in the market - uptrend Turkey. Purchase prices for the material from the Baltic region went up in the recent deals. A supplier from Latvia sold HMS 1&2 (80:20) at $360/t CFR Turkey along with bonus grade at $370/t CFR Turkey. An exporter from Denmark also traded a lot to a Turkish mill in the Karadeniz region at the average price of $365/t CFR. Another deal from European seller was heard – a batch from Belgium was sold to a steelmaker from Iskenderun region at $362/t CFR. HMS 1&2 (80:20) from the US East Coast is assessed at $360/t CFR Turkey on December 3. Australian iron ore fines 62% Fe moved to $137/t CFR as Vale’s guidance output cut. Meanwhile, futures on the DCE made a slight step up - +$0.5/t. READ MORE... 03 December 2020 Iron ore surpass a record high of almost 7 years Turkey. One more mill decided to accept higher price levels and bought a mixed lot of 31,500 t from St. Petersburg, Russia. The batch includes 24,000 t of HMS 1&2 (80:20), 6,000 t of bonus grade and 1,500 t of rails. The average price of the lot is $366/t CFR Turkey, HMS 1&2 (80:20) is estimated at $358/t CFR. Heavy melting scrap 1&2 (80:20) from the US East Coast is assessed at $358/t CFR Turkey. Due to many reasons, but especially coronavirus spreading alongwith caused lockdowns, the collection slowed down. So, sellers hope for the further increase in the purchase price. South Korea. Russian exporting did not come to an end only with shipments to Turkey. In fact, 46,000 t of Russian A3 material priced at $358/t CFR were purchased by a South Korean steelmaker. Another importer bought A3 from Russia at a more favorable price of $329/t CFR just one week ago. Offers for Japanese HMS 2 are heard at $334-344/t CFR South Korea. HMS 1 from the US is offered at $360-365/t CFR. Australian iron ore fines 62% Fe skyrocketed to $136/t CFR (+$4/t over Tuesday), following a significant increase in its futures on the DCE. Actually, 260,000 t of iron ore fines were booked on trading platforms. Prices for the raw materials at ports gained $0.8-2.3/t. Many market players believe that the sharp rise is pushed by dropping inventories. READ MORE... 02 December 2020 Stability both of scrap and iron ore prices Turkey. As the recent events involving import scrap market have not changed over one day, the daily price level for heavy melting scrap 1&2 (80:20) is assessed at $355/t CFR Turkey. Suppliers are willing to go for higher prices, while buyers do not push the situation and prefer to wait for some clarifications. The sentiment in the import scrap market remains positive. In the local finished steel segment prices are also rising amid global upward trend. Quotes for domestic material were raised by $12-20/t by some companies over the week on firm demand. Australian iron ore fines 62% Fe stayed at $132/t CFR on the first day of winter. Shipments from Brazil and Australia to China went up to 22.27 million t (+1 million t) during last week. Market participants are concerned about the increasing supply. Thus, futures for the raw material slightly went down by $0.5/t. READ MORE... 01 December 2020 Scrap quotes are reaching new levels as well as iron ore Turkey. Another deal was disclosed in the import scrap market. An Izmir-based mill bought a mixed lot of 25,000 t from the UK, consisting of HMS 1&2 (80:20) priced at $350/t CFR and shredded material priced at $360/t CFR. Still, last fall day was full of deep stillness. Both buyers and sellers granted each other a respite. Taking into account positive sentiment and high expectations, HMS 1&2 (80:20) from the US East Coast is assessed at $355/t CFR Turkey. Russia. Prices keep rising in the Russian finished steel segment. A3 quotes in the Ural Federal District are at $264-268/t. That is +$8-10/t over the week. The same material delivered by railway in the Southern Federal District is estimated at $261-266/t. A3 delivered by trucks is at $270-286/t CPT mill. Tags for A3 in the Central District are at $254-264/t. Australian iron ore fines 62% Fe reached the 7-years high - $132/t CFR on rebounding economy in China. However, as the cold season is coming up, demand will certainly drop. Thus, this increase will not last for a long time. READ MORE... 30 November 2020 Prices for finished steel material go up Turkey. Heavy melting scrap 1&2 (80:20) form the US East Coast was assessed at $351/t CFR Turkey at the end of last week. Business activity remains high, but only few deals were actually disclosed. A mixed lot of 32,000 t of HMS 1&2 (80:20) and bonus grade from Latvia changed hands at $351/t CFR Izmir and $361/t CFR Izmir respectively. Another mixed batch was traded from Germany to an Iskenderun-based mill. 8,000 t HMS 1&2 (80:20), 15,000 t of shredded scrap and 4,000 t of bonus material were bought at $346/t CFR, $360/t CFR and $356/t CFR respectively. Market players expect a new round of sales at the first week of December as many mills still have a need for restocking. India. Indian buyers are refusing to accept new prices and to book imported scrap at such levels. Shredded material from the UK and Europe was offered at $360-365/t CFR on November 27. That is +$5-10/t over the week. Taking into account that there was a 5-days holiday pause, market participants are at sixes and sevens. Nominal prices for HMS 1&2 (90:10) from UAE are estimated at $350/t CFR. Australian iron ore fines 62% Fe moved up by $0.65/t to $129/t CFR, following an increase (+$0.8/t) in its futures on the DCE. 430,000 t of iron ore fines were booked on trading platforms on November 27. Tangshan billet added $4.6/t, while rebar futures gained $6.1/t. READ MORE... 27 November 2020 Scrap price is hitting upper levels Turkey. Suppliers from the US, UK and Baltic region are raising their offers more and more amid strong demand. Meanwhile, buyers cannot help but accept those new levels as they have a real need in procurement. Negotiations are zealous on positive moods of all participants of the market. Offers for HMS 1&2 (80:20) from the Baltic region are heard at $340-345/t CFR Turkey. In fact, in the most recent deal an Izmir-based mill bought HMS 1&2 (80:20) from the Baltic region at $345/t CFR Turkey. The same material from Benelux is offered at $340-350/t CFR Turkey at the end of November. Speaking of Europe, a supplier from Denmark sold heavy melting scrap ½ (80:20) at $349.40/t CFR Karadeniz. Another batch was traded to a Marmara-based steelmaker from Sweden. In that deal HMS 1&2 (80:20) was estimated at $350/t CFR. Some lots of scrap from Benelux were actually sold during the last week of autumn – the average price for the batch from Netherlands was at $335/t CFR, for the batch from Belgium - $341/t CFR. One more deal was heard from Russia - A3 was bought at $346/t CFR Turkey. Taking into account ongoing uptrend, HMS 1&2 (80:20) from the US East Coast is assessed at $350/t CFR Turkey. Australian iron ore fines 62% Fe increased to $128.35/t CFR just after its futures on the DCE went up by $2.6/t over the day. Market participants do not expect that this price level will remain for a long time as supply dropped in China. The reason for these small steps upwards is healthy demand. Actually, 420 000 t of iron ore fines were booked on trading platforms on November 26. READ MORE... 26 November 2020 Upcoming winter does not influence scrap but iron ore price Turkey. Continuous price surge has been for a while now. In the fresh deal from the UK, HMS 1&2 (80:20) was estimated at $341.5/t CFR Marmara. Heavy melting scrap ½ (80:20) is assessed at $345/t CFR Turkey on November 25. In comparison, on November 19, just one week ago, the price assessment for the same material was at $328/t CFR Turkey. As we can see, the uptrend is rather stiff. Market participants expect even higher prices in the market in the nearest future as demand remains firm and negotiations are active. South Korea. Market players in the South Korean finished steel segment are worried about the global upward trend. Nominal prices for the material have reached the highest level in almost several years. Therefore, most of the buyers prefer to be in wait-and-see mode. There are no deals with US sellers. Offers for Japanese HMS 2 are heard at $315-325/t CFR South Korea. However, some small amounts of scrap were bought from Russia. 3,000 t of A3 material changed hands at $329/t CFR South Korea. Australian iron ore fines 62% Fe went down to $127/t CFR on November 25 due to lowered rates of trading activity and sluggish demand. Rebar futures lost $6.8/t, while Tangshan billet waned down by $1.5/t over the day. The main reason except for the lowered demand is the upcoming cold season which definitely influences the market and moods of the market participants. READ MORE... 25 November 2020 Offers for imported scrap move forward Turkey. Actually, there were no fresh deals in the import scrap market. Negotiations are underway and the sentiment is still positive. Market players from both sides are ready for new deals, buyers have a real need in restocking. However, suppliers are pushing for higher levels of price – for at least abt $340/t CFR for heavy melting scrap 1&2 (80:20). Meanwhile, HMS 1&2 (80:20) from the US East Coast is assessed at $339/t CFR Turkey. Erdemir and Bastug decided to increase their prices by $6-21/t on November 24, following the upward trend in domestic market. As business activity remains high for a while, most companies have already revised their purchase prices. Australian iron ore fines 62% Fe went up by $1/t to $126.5/t CFR on Tuesday. The recent movement is supported by firm demand in China and the drop in shipments from Australian and Brazil. 450 000 t of iron ore fines were booked on trading platforms yesterday. READ MORE... 24 November 2020 Strong demand for scrap supports price increase Turkey. Everybody needs love imported scrap as it turned out in the fourth week of November. Thus, prices in new deals are constantly rising. A mixed batch from Belgium, including HMS 1&2 (75:25), shredded material and bonus scrap, was bought at the average price of $332.5/t CFR Marmara. HMS 1&2 (80:20) from the US East Coast is still assessed at $338/t CFR Turkey. Turkish local market is under the uptrend as well. Supported by strengthened national currency, constant raise in price for the import material, purchase price for domestic scrap added $34-44/t. Russia. There is no bad weather, but there are some seasons of the year when rates of collection are getting lower. As winter is upcoming and cold season will not allow business to remain at these levels, participants of the market do not stop their competition in price increase. Quotes for A3 material in the Ural Federal District are at $254-258/t versus $248-255/t last week. The same material in the South regions is priced at $258-275/t CPT mill. In the Central Federal Region A3 is estimated at $248-254/t – the price went up by $8-10/t over the week. Australian iron ore fines 62% Fe waned to $126.5/t CFR, following the same decrease in its futures on the DCE. The price for finished steel is going down due to worsening demand amid snow showers and rainfalls in China. Rebar futures lost $10/t, while Tangshan billet decreased by $6.1/t over the weekend. READ MORE... 23 November 2020 Persistent uptrend in the finished steel market Turkey. A lot of 35,000 t from the UK was bought by an Iskenderun-based mill at the end of last week. In that deal shredded scrap was estimated at $340/t CFR. An Izmir-based steelmaker bought HMS 1&2 (80:20) from Benelux priced at $329/t CFR. Considering firm demand and market player’s high activity, HMS 1&2 (80:20) from the US East Coast went up to $338/t CFR Turkey. South Korea. South Korean importers took a detached view, refraining from new deals as prices were raised again supported by relentless upward trend in the finished steel segment. Quotes for A3 material from Russia increased by $15/t to $325-330/t CFR South Korea. HMS 1 from the US went up to $330-335/t CFR South Korea. Japanese HMS 2 is offered at $317-326/t CFR South Korea. India. Prices moved up in the Indian import scrap market as well. There were no fresh deals heard due to holidays. However, buyers do not hurry to restock. Offers for HMS 1&2 (80:20) from the UK and Australia are at $340/t CFR. Shredded material from Europe and the US is at $350-360/t CFR. Nominal price of turnings from Europe is at $320/t CFR. Australian iron ore fines 62% Fe moved up to $128.5/t CFR on strong demand, following increase in the futures on the DCE. Rebar futures added $5.6/t, while Tangshan billet gained $1.5/t. Despite these days of constant increase in the price, market insiders do not believe that this level is going to stay for a while cause the cold season is upcoming. READ MORE... 20 November 2020 As for scrap price increase, it goes on and on Turkey. It turned out that buyers are ready to accept higher prices for the imported material. An Iskenderun-based mill bought a mixed lot from Belgium, consisting of HMS 1&2 (80:20), shredded material, cuttings and bonus scrap. The total amount of that deal, 43 000 t, has the average price of $332.5/t CFR Turkey. A steelmaker from Marmara-region purchased a batch with HMS 1&2 (80:20) priced at $326.5/t CFR and bonus grade at $336.5/t CFR from Germany. A lot from Latvia with HMS 1&2 (80:20) and bonus material changed hands at 329/t CFR Marmara and at $339/t CFR Marmara respectively. A3 from Russia was traded to the north of Turkey priced at $328/t CFR. 3,000 t of HMS 1&2 (80:20) from Bulgaria were sold at $310/t CFR Turkey along with 2,000 t of bonus grade at $318/t CFR Turkey. Considering that import scrap prices rose in the fresh deals, HMS 1&2 (80:20) from the US East Coast is assessed at $333/t CFR Turkey. Pakistan. Taking into account the present situation in the global finished steel segment, it’s quite clear why prices moved up by $30-35/t over the week in the Pakistani import scrap market. Steelmakers booked about 100 000 t of shredded material from Europe priced at $350/t CFR in the second and third weeks of November. The price for shredded material in most recent deals is estimated at $355-358/t CFR Port Quasim. Market players expect prices to rise more next week. Australian iron ore fines 62% Fe increased by $0.8/t to $127.25/t CFR, following a sharp move of the futures on the DCE (+ $2.7/t) since Wednesday. The sentiment is positive, demand remains firm, speculations over supply cut supported the upward trend of the iron ore price. For the moment, insiders believe that this trend will last until the end of the year. READ MORE... 19 November 2020 If only buyers are ready for such prices Turkey. The silence in the Turkish import scrap market is caused by both the inclination of sellers to trade the material up and unwillingness of buyers to accept such levels. Many mills are very interested in the procurement. Some insiders told that the price is going to increase to $330-340/t CFR for HMS 1&2 (80:20) in the next deals. Taking into account that market participants have optimistic moods and demand is firm, HMS 1&2 (80:20) from the US East Coast is assessed at $328/t CFR Turkey. Australian iron ore fines 62% went up to $126.45/t on good sales of steel in China. Futures on the DCE gained $0.5/t in January contracts on November 18. Tangshan billet added $3/t over the day. 670 000 t of iron ore fines were actually booked on trading platforms. Prices at ports also increased by $0.8-2.3/t. Market players are worried about the future of the iron ore price, as the situation with the coronavirus spreading and lockdowns all around the world is getting more specific and tense. However, as for now everything seems not so bad. At least, this week neither suppliers nor buyers expect sharp price adjustment. READ MORE... 18 November 2020 Positive sentiment in the steel market pushed iron ore price up Turkey. HMS 1&2 (80:20) from the US East Coast was still assessed at $325/t CFR Turkey on November 17. The majority of suppliers raised their bids for scrap, being aware of the buyer’s needs for the material. Thus, the situation is getting tenser – sellers keep raising quotes, while steelmakers refrain to accept such price levels at the moment. However, this should not become stalled as mills do have to restock. Meanwhile, HMS 1&2 (80:20) from Europe is offered at $325/t CFR, the same material from the USA is estimated at least at $335/t CFR. No wonder that buyers are trying to avoid deals with such price tags. Australian iron ore fines 62% Fe increased by $1.5/t to $125.5/t CFR, following even a bigger raising in the futures on the DCE. For the first time in the last month the price run higher than $125/t CFR. As the sentiment is optimistic and demand is firm, rebar futures gained $10.2/t and Tangshan billet added $3/t over the day. All in all, the steel segment is unbalanced for the last several weeks. Deliveries of the raw material at China’s ports went down by 14% to 11.18 million t. Buying activity at ports also leaves a lot to be desired. Market players expect price decrease at the beginning of December as arrivals to china will grow. READ MORE... 17 November 2020 New high of the price in the finished steel market Turkey. Finished steel market is alive and kicking in the mid November. As demand is firm, suppliers tend to increase prices for the material. Nominal prices went up significantly at the end of last week. Thus, many buyers prefer not to show their interest in scrap, so to give sellers no way for raising bids more. A mixed lot from the UK with HMS 1&2 (80:20) and shredded scrap was bought by an Iskenderun-based company at $318/t CFR and $323/t CFR respectively. The price level for HMS 1&2 (80:20) from the US East Coast skyrocketed to $325/t CFR Turkey amid optimistic moods in the finished steel market. Russia. Mills are still competitive amid short supply in the Russian scrap market. Prices are increasing in the Central Federal District where bids for A3 are estimated at $237-245/t. The same material in the Ural Federal District is priced at $248-255/t. In average, prices in both regions added $7-16/t over the week. In the Southern Federal District, tags for A3 delivered by railway stay at $248-255/t. Benelux. Market in Europe is following global upward trend. HMS 1&2 (80:20) from Benelux is offered at $318-320/t CFR. HMS 1&2 (80:20) from Rotterdam is assessed at $295/t FOB, while HMS 1&2 (75:25) from Rotterdam - at $290/t FOB. Market players suppose that prices will go up this week on strong demand. Australian iron ore fines 62% Fe moved up to $1.25/t to $124/t CFR, following an increase in its futures on the DCE. On Monday 560 000 t of iron ore fines were booked on trading platforms. Participants of the market do not have positive thoughts about the nearest future of iron ore price, as improved supply can easily destroy the balance in the segment. READ MORE... 16 November 2020 Scrap price keeps increasing Turkey. The third week of November starts with sounding expectations for the price. Market players are waiting for the further increase in finished steel tags as the situation with lockdowns caused by coronavirus spreading is getting more serious. Thus, scrap supply can be tightened in some countries. At the end of last week a mixed lot of about 30 000 t, including HMS 1&2 (75:25), bonus grade and busheling, from Germany was traded to a mill from Iskenderun region. The average price of the batch was estimated at $303/t CFR. This means that European material gained around $11/t over one week. Considering all above, HMS 1&2 (80:20) from the US East Coast is assessed at $310/t CFR Turkey. Russia. The upward trend spread to Russian ferrous scrap market. A3 material from St. Petersburg moved up by $5-8/t to $305/t CFR Turkey. A3 from Rostov-on-Don is offered at $300/t CFR Turkey. However, there are no fresh deals heard. Buyers do not approve such increase and prefer to wait for some time. South Korea. The market was silent in the second week of November. Still, some participants are waiting for a new wave of contracts due to the uptrend in the segment. HMS 2 from Japan is estimated at $309-319/t CFR South Korea. A3 material from Russia is offered at $305-315/t CFR. As for HMS 1 from the US, it is priced at $315-320/t CFR South Korea. Australian iron ore fines 62% Fe went down by $0.75/t to $122.75/t CFR, while futures on the DCE decreased by $0.5/t in January contracts. 260 000 t of iron ore were booked on platforms on Friday 13. Prices at ports went down by $0.8/t. READ MORE... 13 November 2020 Between the absence of new deals and active negotiations Turkey. The price assessment for HMS 1&2 (80:20) from the US East Coast stays at $306.5/t CFR Turkey. The steadiness of import scrap prices is due to the balance between active negotiations but the absence of fresh deals. Suppliers are still insisting on higher levels of quotes, HMS 1&2 (80:20) from the US is heard at $308-310/t CFR. As for buyers, they are more prepared to the price increase than a week ago. Market participants are worried about the situation regarding coronavirus outbreak and following lockdowns in many cities around the world as it may influence the finished steel segment. India. Prices for the imported scrap from the US, the UK, Europe are keep rising amid the upward trend in Turkey. Offers for shredded material from the US and Europe are heard at $335-340/t CFR. HMS 1&2 (80:20) from the South America is estimated at $315/t CFR. HMS 1 from the UAE is offered at $320/t CFR. At an average, prices added around $12-20/t over past two weeks. Italy. Prices in Italian scrap market run counter to the international market. Mills were trying to put quotes for the material a bit lower and succeed in that due to the coronavirus fast spreading and the risk of total lockdown. E3 is estimated at EUR 215-220/t delivered, E8 – at EUR 235-250/t delivered and as for E40 – it is offered at EUR 225-230/t delivered. Market players do not think too far ahead as market is unpredictable at the moment. Australian iron ore fines 62% Fe went down to $123.5/t CFR, following the decrease in futures on the DCE. The reason for that is a pause of Chinese steelmakers in restocking. As active buying slowed in the steel segment, the price for iron ore fines began to slide down as well. READ MORE... 12 November 2020 Surging scrap price, iron ore increases amid firm demand Turkey. A sudden upsurge of prices for import scrap was spotted in the market on November 11. A mixed lot from the US with HMS 1&2 (80:20) priced at $305/t CFR, shredded material at $310/t CFR and bonus grade at $315/t CFR was bought by a company from Iskenderun. The same mill purchased a batch from Latvia. The cargo includes HMS 1&2 (80:20) and bonus material at $305/t CFR and $315/t CFR respectively. HMS 1&2 (80:20) from the US changed hands at $306.5/t CFR Marmara. The price for this material has increased by $4-9/t comparing with previous deals. As there is a certain spike of the price, the daily price level for HMS 1&2 (80:20) from the US East Coast skyrocketed to $306.5/t CFR Turkey. Benelux. Quotes for the material from Europe went up due to the uptrend in Turkey. HMS 1&2 (80:20) moved up at least by $7-8/t and is at $300/t CFR. The price assessment for HMS 1&2 (75:25) from Rotterdam is at $271/t FOB (+ $8-10/t since last week). Australian iron ore fines 62% Fe keeps rising amid high business activity in the seaborne market and supply cut. 520,000 t of iron ore were booked on trading platforms on November 11. Supply reduced by 5% to 12.97 million t at the end of last week. The balance is twiggy but market participants do not expect something really bad with price to happen in the nearest future. READ MORE... 11 November 2020 Economic impact on the finished steel segment Turkey. The price level for HMS 1&2 (80:20) from the US East Coast did not change over the day and is still at $298/t CFR Turkey. Suppliers are insisting on higher prices, while buyers are waiting for the stabilization of national currency. Offers for HMS 1&2 (80:20) from the US and Baltic region are heard at $295-300/t CFR Turkey. Benelux. Prices for exported material are strong due to firm demand amid Turkish mills. For the past 30 days, quotes for scrap were growing as global market was active. A bunch of lots from Benelux was traded to Turkey during the first week of November. HMS 1&2 (80:20) was estimated at $289-292/t CFR in the most recent deals. The price assessment for HMS 1&2 (80:20) from Rotterdam is at $266/t FOB, for HMS 1&2 (75:25) from Rotterdam is at $261/t FOB. Australian iron ore fines 62% Fe increased by $0.45/t to $122.45/t CFR, while its futures on the DCE gained $1.2/t. Supply cut (-5%), active trading and improved demand had their effect on iron ore. READ MORE... 10 November 2020 Sliding demand for scrap Turkey. As in the nature of things, after an active period of procurement in the import scrap market, begins the silence. However, prices are still stable. Suppliers are pushing for a certain increase in purchase prices, while buyers are trying to create a pause – to shorten sail. The daily price assessment for HMS 1&2 (80:20) from the US East Coast stays at $298/t CFR Turkey. Russia. Finished steel segment sustains efforts in maintaining scrap prices. Tags for A3 in the Ural Federal District increased at least by $1/t to $241-249/t. The same material in the Central Federal District is at $220-235/t. Demand for A3 material is sluggish in the Southern Federal District and nominal prices are at $240-242/t for delivery by rail and at $241-256/t CPT for delivery by trucks. Australian iron ore fines 62% Fe moved up to $122/t CFR on November 10 amid reduced cut and firm demand. Futures on the DCE also gained $4.2/t over the weekends. 610,000 t of iron ore fines were sold on trading platforms over the day. Finally, demand in China is improving as many companies are willing to finish all complex clauses before winter. READ MORE... 09 November 2020 Scrap deals revealed Turkey. As predicted, some more fresh deals are revealed on Monday. Two mixed batches from the US were sold to Marmara-based and Iskenderun-based mills. In those deals HMS 1&2 (80:20) is estimated at $293.5-294/t CFR. 25,000 t of HMS 1&2 (80:20) from Venezuela changed hands at $290/t CFR Izmir region. Suppliers from the Baltic region and Europe also signed some contracts last week. HMS 1&2 (95:05) from the Baltic region was purchased at $304/t CFR Iskenderun. A mixed lot from Belgium was bought by company from the same region. In that deal HMS 1&2 (80:20) was estimated at $292/t CFR. A mill from Karadeniz region bought a mixed batch from Canada with HMS 1&2 (80:20) priced at $302/t CFR. The daily price level for HMS 1&2 (80:20) from the US East Coast moved up on new sales to $298/t CFR Turkey. Russia. Scrap market in Russia is under upward trend as Turkish mills are accepting higher levels. Tags for A3 from Rostov-on-Don widened to $292-295/t CFR Turkey. The price for the same material from St. Petersburg is at around $293/t CFR in most recent contracts. However, after suppliers from the US and Canada raised their bids for HMS 1&2 (80:20) to $297-300/t CFR, Russian exporters brim with confidence about nearest forecast and possible rate of price increase. Meantime, quotes for A3 material from Far East are at $286-290/t CFR South Korea. Australian iron ore fines 62% Fe went up by $1/t to $117.5/t CFR, following an increase on the futures on the DCE on November 6. Iron ore was supported by optimistic sentiment. Rebar futures and Tangshan billet added $5.1/t and $1.5/t respectively. READ MORE... 06 November 2020 Awaiting disclosure of frsh scrap deals Turkey. The daily price assessment for HMS 1&2 (80:20) from the US East Coast remains at the same level – at $296.5/t CFR Turkey as there were not recently disclosed fresh deals. However, insiders of the import scrap market know for sure that business activity is high. There are active negotiations with suppliers from the US, Europe and Baltic region. Offers for European HMS 1&2 (80:20) are heard at $292-293/t CFR Turkey. Sellers are trying to reach heavier levels, while importers do not hurry to accept them. It is conceivable that the situation in the finished steel segment is going to be clearer on Monday when some of the deals will be disclosed. Italy. Nothing of much importance happened at the beginning of November in the Italian scrap market. The situation is typical of segment right now. Buyers insist on lower prices, while suppliers are trying to achieve new highs. E40, E8 and E3 materials are offered at EUR 230/t, EUR 235-240/t and EUR 210-215/t delivered respectively. Market participants are worried about new wave of coronavirus outbreak and follow-up measures as it will definitely influence both import and export. Australian iron ore fines 62% Fe remains stable at $116.5/t CFR, though its futures on the DCE lost $0.5/t over the day. Thus, market players expect decrease in the iron ore price on weak trading and growing supply. Port inventories of the raw material increased, reaching 130.8 million t. READ MORE... 05 November 2020 Proactive procurement - scrap market Turkey. Import scrap market switched on after several fresh deals. A mixed lot of 30,000 t from the US, including HMS 1&2 (80:20) priced at $296.5/t CFR, shredded material at $301.5/t CFR and bonus grade at $306.5/t CFR, was purchased by an Iskenderun-based mill. Another deal was heard in the same region – a company from Iskenderun bought a batch from Poland. It consisted of 26,000 t of HMS 1&2 (80:20) at $293.5/t CFR, 2,000 t of shredded scrap at $303.5/t CFR and 2,000 t of busheling at $308.5/t CFR. Thus, quotes for HMS 1&2 (80:20) from Baltic region are mostly at the same level. HMS 1&2 (80:20), shredded material and bonus grade changed hands at $289/t CFR Marmara, $294/t CFR Marmara and $299/t CFR Marmara respectively. The daily price tags for HMS 1&2 (80:20) from the US East Coast increased to $296.5/t CFR Turkey on higher expectations and positive sentiment. South Korea. The finished steel segment is in a lull at the beginning of the first week of November. Negotiations for Japanese HMS 2 are underway. Both suppliers and buyers are trying to fall into the line. HMS 2 from Japan is estimated at $295/t CFR South Korea. At the same time, there are no talks about material from Russia or the US. Offers for Russian A3 are at $286-290/t CFR South Korea, while nominal price for HMS 1 from the US is at $295-305/t CFR. Australian iron ore fines 62% Fe decreased by $1.75/t to $116.5/t CFR on November 3 and still remains at the same level, while futures on the DCE continue lowering. The recent dip was supported by rising supply. On Tuesday 430,000 t of iron ore fines were booked on trading platforms as steelmakers showed their interest in the raw material at such price tags. The price for iron ore is stable due to stricter work output cuts in Tangshan. READ MORE... 03 November 2020 Stable scrap price amid silence in the market Turkey. Negotiations are underway in the import scrap market at the beginning of the first week of November. October ended with some more deals that were disclosed recently. HMS 1&2 (80:20) from Finland changed hands at $293/t CFR Marmara. Shredded material along with bonus grade from the US was bought at $300/t CFR Iskenderun and $305/t CFR Iskenderun respectively. The price level did not change over the day for HMS 1&2 (80:20) from the US East Coast ($293/t CFR Turkey) as the sentiment is still positive. Turkish Statistical Institute has bottom-lined rates of import in September. Mills bought 2.2 million t in the first month of autumn as there were two active months of procurement before. That is + 27.5% on annualized base. Main suppliers are from the US, the UK, Netherlands and Russia. Market insiders suppose that September was the most active month of the year. Russia. Producers in the Central Federal District spiraled down prices for A3 material. The nominal level went down from $224-232/t to $219-229/t. In the meantime, price for the same material in the Ural Federal District was raised by Seversky Tube Works. However, the majority of producers in that District just narrowed the range for A3 to $240-246/t. In the Southern Federal District prices for A3 were also narrowed – tags are at $238-241/t. Australian iron ore fines 62% Fe increased to $118.25/t CFR on optimistic moods and following futures on the DCE which gained $1/t over the day. Rebar futures added $2.5/t, Tangshan billet gained $1.5/t. READ MORE... 02 November 2020 Almost all participants of the scrap market took a pause Turkey. Active trading in the import scrap market stopped at the end of last week. Despite a lull in the segment, prices remain mostly stable. Offers for HMS 1&2 (80:20) from the US are keeping up at $295/t CFR Turkey. The same material from Europe is priced at $290/t CFR. The nearest forecast for finished steel segment cannot be predicted as there are too many uncertainties. First of all, market participants do have to buy material for December shipments. In the same time, mills are trying to refrain from the costlier deals. Anyway, the daily price level is stable for now – HMS 1&2 (80:20) from the US East Coast is priced at $293/t CFR Turkey. Pakistan. Scrap market is prone to upward trend as many mills are in need of the material. A batch of shredded scrap in the amount of 20,000 t from the UK was purchased at $320-325/t CFR Pakistan. Another lot from the UK with shredded material was traded at $322/t CFR Qasim. As suppliers know that mills have to renew procurement and the sentiment is positive, they are going to raise scrap prices this week. South Korea. Unlike Pakistani and Turkish, South Korean finished steel segment took some time off in the second half of October. Offers for HMS 2 from Japan are priced at $287-296/t CFR South Korea. Some small quantities of Japanese material were bought at $287-291/t CFR South Korea within last 2 weeks. Quotes for A3 from Russia are at $286-290/t CFR South Korea. HMS 1 from the US stays at $295-305/t CFR South Korea. India. Indian scrap market was firm in silent position with stable prices at the end of October. Thus, there were no fresh deals during last week. Shredded material from the UK and US is offered at $315-320/t CFR. HMS 1&2 (80:20) from Europe is priced at $295-300/t CFR. Market players expect some activity in the nearest weeks as buyers will probably have to restock before holidays. Australian iron ore fines 62% Fe went up to $118/t CFR amid better sentiment, following a sharp increase in the futures on the DCE. READ MORE... 30 October 2020 Finished steel market is before the choice Turkey. Recently, market players divided into two groups. Participants of the first one do not believe in further price increase as the rate of procurement moved down. However, the second group supposes that uptrend is going to stick around as long as mills need material for December shipments. According to the information from insiders, a mixed lot was bought by an Izmir-based producer in the middle of the week. In that deal HMS 1&2 (75:25) was priced at $289/t CFR, shredded material – at $296/t CFR and bonus grade – at $303/t CFR. There were no fresh deals over the day. Thus, the price level for HMS 1&2 (80:20) from the US East Coast stays unchanged at $293/t CFR Turkey. Australian iron ore fines 62% Fe went down to $116/t CFR on weakening trading activity. Even positive moods after the plenum in Beijing did not help stability of the price. Demand is still sluggish and the situation is going to became worse as the winter wore on. READ MORE... 29 October 2020 Positive sentiment in the raw material segment Turkey. Turkish mills continue procurement. There are active negotiations with Baltic suppliers. In fact, another purchase from Baltic region was disclosed. A mixed lot from St. Petersburg with 9,000 t of HMS 1&2 (80:20), 8,000 t of shredded material and 4,000 t of bonus grade was bought by an Iskenderun-based company at $292.5/t CFR, $297.5/t CFR and $302.5/t CFR respectively. A batch of 3,000 t of Russian A3 priced at $292/t CFR was purchased by another Turkish mill. The daily price level for HMS 1&2 (80:20) from the US East Coast has not changed and is at $293/t CFR Turkey. Italy. Finished steel segment is under downtrend for the last two weeks. Prices are going down by EUR 5/t amid uncertainties related to coronavirus spreading. Mills have already restocked, so there is no need to hurry. Market players are closely monitoring developments. Australian iron ore fines 62% Fe increased by $2.75/t to $116.75/t CFR, following the same raise in its futures on the DCE over the day. As all the participants of the market were waiting for the announcement of a new 5-year economic plan, the sentiment became positive. Rebar futures added $7.7/t, while Tangshan billet gained only $1.5/t. READ MORE... 28 October 2020 High activity in the scrap market Turkey. Two contracts with suppliers from Baltic region were set up recently. A batch from Latvia with HMS 1&2 (80:20) changed hands at $292.75/t CFR Izmir. The cargo from Lithuania with HMS 1&2 (80:20) was traded at $293.5/t CFR to a Marmara-based mill. Two more deals with US sellers were signed in last few days. The price for HMS 1&2 (80:20) was estimated at $292/t, for shredded material at $297/t and for bonus grade at $302/t CFR Iskenderun. Thus, the daily price level for HMS 1&2 (80:20) from the US East Coast stayed at $293/t CFR Turkey. Prices for Turkish domestic scrap were raised by some companies by $8.5-14.5/t on weakening national currency. Australian iron ore fines 62% Fe spiralled up by $0.25/t to $114/t CFR amid lower supply. Meanwhile, futures on the DCE gained $1.1/t over the day. Iron ore arrivals went down by 13.6% on the third week of October. What’s more, trading on platforms is recovering – about 80,000 t of mid-grade material was booked on October 27. So, the segment is making its first steps towards healthy balance. READ MORE... 27 October 2020 Vulnerable iron ore / flourishing scrap Turkey. Several fresh deals were disclosed on October 26. An exporter from Latvia sold HMS 1&2 (80:20) priced at $292.5/t CFR along with bonus grade at $302.5/t CFR Iskenderun. The other mill from Iskenderun region purchased a batch with HMS 1&2 (80:20) at $285/t CFR from the UK. The daily price assessment for HMS 1&2 (80:20) went up to $293/t CFR Turkey on positive sentiment and high expectations of market players. South Korea. Last week ended with a silent period in the finished steel segment. Meanwhile, suppliers from 3 main trading destinations are raising purchase prices. Thus, HMS 1 from the US increased to $295-305/t CFR South Korea and that is plus $4-6/t over the week. Russian A3 is offered at $286-290/t CFR South Korea. However, in the recent deal the material bought at $281/t CFR South Korea. HMS 2 from Japan gained $9.6/t and is estimated at $281-291/t CFR South Korea. Buyers are concerned about the uptrend and prefer to refrain from hasty decisions. They are trying to be in the wait-and-see mode for a while in order to observe the situation better. Australian iron ore fines 62% Fe waned to the lowest level in last few months - to $113.75/t CFR, following the same drop in futures on the DCE. Tangshan billet decreased by $1.5/t. Tags for iron ore are also going down on negative moods and weak sentiment. READ MORE... 26 October 2020 More scrap deals are disclosed Turkey. Active procurement for November shipment continues in the import scrap market. Purchase prices are going up amid bullish moods of suppliers. A mill from an Izmir region bought a batch from Estonia. In that deal HMS 1&2 (80:20) was estimated at $291.5/t CFR. A mixed lot from Sweden with HMS 1&2 (80:20) priced at $291/t CFR and shredded scrap at $296/t CFR was purchased by a Marmara-based producer. Considering a certain uptrend in the finished steel segment, the daily price level for HMS 1&2 (80:20) from the US East Coast increased by $1/t to $292/t CFR Turkey. Russia. Nominal prices are moving up in the Russian ferrous scrap market as Turkish mills are restocking. Still, there were no deals heard yet. However, suppliers reckon on long-lasting upward trend. Tags for A3 material went up to $285/t CFR Turkey. The same material from Saint Petersburg is at $290/t CFR Turkey. Australian iron ore fines 62% Fe tumbled to $115.5/t CFR, while futures on the DCE waned by $3.3/t at the end of last week. On Friday Chinese port stockpiles increased by 3.3 million t to 127.8 million t, that is the highest amount in last 8 months. Thereupon, prices sank down as the balance was lost. The current situation in the segment took the wind out of market participant’s sails. READ MORE... 23 October 2020 Strengthened positions of scrap price Turkey. The daily price assessment moved up to $291/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast amid strengthened positive moods in the import scrap market. The price for HMS 1&2 (80:20) from the Baltic region added at least $2/t in new deals comparing with sales at the end of last week. A mixed lot of 27,000 t from the Baltic was traded with an average price of $291/t CFR Izmir. HMS 1&2 (80:20) from Finland was bought at $291/t CFR by a Marmara-based mill. Another contract was signed with Polish suppliers. In that deal HMS 1&2 (80:20) was priced at $287.5/t CFR. India. Indian scrap market is keeping up with the uptrend. HMS 1&2 (80:20) as well as HMS 1&2 (90:10) from Australian and Africa is priced at $295-300/t CFR and $300-305/t CFR respectively. HMS 1 from the same regions is estimated at $305-310/t CFR. Offers for shredded material from Europe and the US are at $315-320/t CFR. Australian iron ore fines 62% Fe stayed at $120/t CFR. However, futures on the DCE went down by $0.5/t on Thursday. A flimsy balance which was found in the mid of the week continues to influence the price. 500,000 t of iron ore fines were booked on trading platforms on October 22. Nevertheless, market players do not expect that trading activity will remain strong for a long time. READ MORE... 22 October 2020 Better sentiment in the scrap market Turkey. Increasing interest of the mills in restocking prompted suppliers to move purchase prices up. Offers for HMS 1&2 (80:20) from the US or Baltic region went up by $3-7/t to $290-295/t CFR Turkey over the week. The sentiment is positive, market players expect further increase in scrap tags. The daily price level for HMS 1&2 (80:20) from the US East Coast inched up to $289/t CFR Turkey. Benelux. In the mid October the price assessments for HMS 1&2 (80:20) and HMS 1&2 (75:25) are estimated at $257/t FOB Rotterdam and $252/t FOB Rotterdam. Finished steel market remains silent as for deals with Asian mills. Shredded material is offered at $310/t CFR. Last week in deals with Turkish buyers HMS 1&2 (80:20) was priced at $285-287/t CFR. Considering a positive growth both in expectations and moods of participants of the global market, purchase price for HMS 1&2 (80:20) is certainly higher this week. Australian iron ore fines 62% Fe went up to $120/t CFR on better sentiment in the raw material segment. Meanwhile, futures on the DCE gained $1.2/t. Tangshan billet got $1.5/t, while rebar futures added $5.1/t. However, the situation is far from stability. Iron ore is facing a sharp risk of decreasing every day due to rising supply. READ MORE... 21 October 2020 Redressed balance raised iron ore price Turkey. Sellers align with bullish strategy in negotiations in the second half of October. HMS 1&2 (80:20) from the Baltic region is offered at $290/t CFR. Still, buyers do not agree with such purchase price and insist on lower levels. As there were no fresh deals, HMS 1&2 (80:20) from the US East Coast stayed at $287/t CFR Turkey. South Korea. Purchase prices are plateaued in the finished steel segment. Nevertheless, there were some new contracts signed in the mid October. Demand for the material is good enough. Several batches of HMS 2 from Japan changed hands approximately at $270-275/t CFR South Korea. A3 from Russia is estimated at $281/t CFR. The same price was in the recent deal with Russian exporter. HMS 1 from the US is offered at $290-295/t CFR South Korea. Australian iron ore fines 62% Fe inched up by $0.4/t to $119.4/t CFR on October 20. Despite negative moods of market participants, futures on the DCE also gained $1.2/t. More that 600,000 t of iron ore fines were booked on trading platforms. Thus, the balance was redressed. Unfortunately, market insiders do not expect significant alterations in the nearest future. READ MORE... 20 October 2020 Prices for scrap being mostly steady Turkey. Finished steel segment opened this week with active negotiations. Buyers have now a real need for November procurement as well as sellers are eager to discuss the level of the price in deals. In previous contracts last week HMS 1&2 (80:20) was estimated at $286-288/t CFR Turkey. Tags for the same material from the UK are at $284.5/t CFR Turkey. Seller from Lithuania traded HMS 1&2 (80:20) at $286/t CFR Izmir. The same but from Netherlands was bought at $281/t CFR Iskenderun. As prices are mostly stable, HMS 1&2 (80:20) from the US East Coast stays at $287/t CFR Turkey. Russia. Purchase price for the scrap is waning amid slight&soft downdrift in the segment. A3 is estimated at $222-233/t in the Central federal District.The same material in the Ural Federal District is priced at $242-249/t. A3 quotes in the Southern Federal District widened to $236-244/t. Many participants of the market predict further decreasing of the price. Australian iron ore fines 62% Fe increased by $0.6/t to $119/t CFR. However, its futures on the DCE lost $0.7/t over weekends. Demand is still sluggish, market players are waiting the cold season to come soon. READ MORE... 19 October 2020 Import scrap market gains ground amid fresh deals Turkey. Some more deals in the scrap market were revealed during weekends. A mill form Marmara region bought a mixed lot from the US with HMS 1&2 (80:20) priced at $286/t CFR, shredded material at $291/t CFR and bonus grade at $296/t CFR. The daily price level stayed at $287/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Bangladesh. Finished steel segment has definitely seen better times. As demand is weak and there are almost no fresh deals, many participants of the market prefer to refrain from active actions. However, the need to restock sometimes pushes steelmakers to buy the material. Thus, 27,000 t of HMS 1&2 (80:20) from Australia were bought at $313.5/t CFR. The same material from the US and UK is offered at $305-310/t CFR. India. Import scrap market in India slowly recovers after a period of downtrend with sluggish demand. A buyer from India purchased shredded material from the UK at $308/t CFR. Another deal was disclosed - HMS 1&2 (90:10) was traded at $293-295/t CFR India. Offers for shredded material from the UK and Europe are heard at $310/t CFR. Australian iron ore fines 62% Fe remained at $118.4/t CFR at the end of last week. Market insiders are worried about further decrease of the price, as the balance is still not found. Taking into account the growth of supply, the price is very likely to move down on the fourth week of October. READ MORE... 16 October 2020 Erratic balance in the iron ore market Turkey. The majority of participants of the market are still waiting fir some further movements in the finished steel segment. However, this week ends with a silence as there were no fresh deals. Suppliers are intending to get higher prices in new contracts. HMS 1&2 (80:20) from the US is offered at $290/t CFR Turkey. Actually, there are active negotiations in the market now. Thus, it is only about timing – when we will hear about a swelling tide of procurement. The daily price level for HMS 1&2 (80:20) remains at $287/t CFR Turkey. Australian iron ore fines 62% Fe lost some more points and stayed at $118.4/t CFR on October 15. Meanwhile, futures on the DCE dropped by $1.6/t. Iron ore fines 62% Fe lost $7.1/t in total over one week due to strong supply. Rebar futures went down by $0.9/t, while Tangshan billet decreased by $3/t. Only 260,000 t of iron ore fines were booked yesterday. As the balance of the market is ruined, this downtrend will continue for some time. READ MORE... 15 October 2020 Scrap price is finally moving up Turkey. Some insiders suppose that a new wave of procurement with higher price levels is coming in a few days. The occasion for the growth impact was a fresh deal between company from the USA and a mill from the Iskenderun region. HMS 1&2 (80:20) was priced at $287/t CFR in that deal, while shredded material was at $292/t and bonus grade at $297/t CFR. The daily price level for HMS 1&2 (80:20) from the US East Coast increased by $2/t to $287/t CFR Turkey. Germany. The scrap segment did not suffer from global downtrend in the beginning of October. The prices in the market were mostly stable as demand was firm. Tags for E3, E40 and E8 are around EUR 220-245/t. Market players believe that the finished steel segment is going to rebound in the nearest future. Australian iron ore fines 62% Fe decreased by $1.95/t to $119/t CFR, following a loss of $2.1/t by the futures on the DCE. While supply pressures iron ore price, the number of new deals is rising. However, the price is going to wane further until the balance will be found. 610, 000 t of iron ore fines were booked on trading platforms on October 15. READ MORE... 14 October 2020 Stable but low - scrap price in the mid October Turkey. The import scrap price which represents the whole market lost its points during last 10 days. The level of the price for HMS 1&2 (80:20) from the US East Coast is at $285/t CFR Turkey on October 13. Some insiders do believe that tags for scrap are going to wane more. However, suppliers hope for the best as they do not accept such prices. The nearest forecast for scrap segment is rather ambiguous. Australian iron ore fines 62% Fe decreased by $3.05/t to $120.95/t CFR, following a drop in the futures on the DCE. The pace of imports to China struck to 108.55 million t in September, it is plus 9.3% year-on-year and the second time of such almost such amount since July in 2020. Iron ore trading is well improved, there were two deals heard the day before. Nevertheless, it feels like many market participants are concerned about output cuts in forthcoming cold season. READ MORE... 02 October 2020 Not only leaves are falling in the autumn but the scrap prices Turkey. The common decrease of prices caused by the unwillingness of mills to buy material at high levels resulted in global downward trend. Nevertheless, life goes on and companies need to restart procurement. Thus, a mill from Marmara region bought a mixed batch from Sweden. In that deal HMS 1&2 (80:20) was estimated at $292/t CFR, shredded material at $297/t CFR and bonus grade at $302/t CFR. The daily price level for HMS 1&2 (80:20) lost $1/t over the day and is at $293/t CFR Turkey. Bangladesh. Bashundhara Group is going to expand its business with a new steel plant in Mirsarai. Construction of the EAF steel mill is planned on the beginning of January 2021. This new plant will be situated near the Chittagong port, so it will be in a good position to import the raw material. READ MORE... 01 October 2020 October began with a clarion pause in the scrap market Turkey. The daily tags for HMS 1&2 (80:20) from the US East Coast stayed at $293/t CFR Turkey on the last day of September as there were no fresh deals in the market. Mills are willing to have the prices even lower, while suppliers are not going for something lower than $290/t CFR. Market players expect the situation to improve in the nearest future as mills have a need to restock. Australian iron ore fines 62% Fe increased by $4.5/t to $122.5/t CFR, following futures on the DCE which gained $4.2/t over the day due to better supply and firm demand in the steel segment. Yesterday 440,000 t of iron ore fines were booked on trading platforms. However, as October begins with a line of holidays, participants of the market expect price decrease. READ MORE... 30 September 2020 Downtrend in the scrap market Turkey. Prices are going down in the Turkish import scrap market. 10,000 t of HMS 1&2 (80:20) priced at $293/t CFR, 12,000 t of shredded material at $298/t CFR and 8,000 t of bonus grade at $303/t CFR were purchased from the US by a mill from Iskenderun region. The daily tag for HMS 1&2 (80:20) from the US East Coast dropped by $2/t to $293/t CFR Turkey. Australian iron ore fines 62% Fe got $2/t amid decrease in supply at Vale. Futures on the DCE got $1.5/t on September 29. Prices for iron ore are going to increase by 10% in long-term contracts in Russia in the next month as there are some changes expected in the global steel segment as well as rouble's devaluation. READ MORE... 29 September 2020 Iron ore climbed a little, while scrap stays on Turkey. The daily price level is the same – at $295/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Market participants are looking for more negotiations and are willing to close new deals for November shipment. Some players expect price increase in the nearest future as pace of purchasing will go up as well. Russia. Uptrend continues in the domestic scrap market. Many companies are raising their purchase prices. In the Southern Federal District A3 is priced at $228-238/t. The same material in the Central Federal District is at $223-232/t. A3 quotes are at $241-245/t in the Ural Federal District. As for now, mills are going to push tags for finished steel higher. Australian iron ore fines 62% Fe moved to $116/t CFR, following an increase in the futures on the DCE. Meanwhile, rebar futures got $2.6/t, Tangshan billet lost $1.5/t. Despite this slow price improving, market insiders expect steel material to fall in the last months of 2020. READ MORE... 28 September 2020 Afresh deals in the scrap market Turkey. The obvious need of mills to restock pushed them towards new deals on the levels higher than were expected. Buyers were willing to buy material with some significant price decrease. However, the lack of shipments for November set them on rethinking. A mixed lot from Denmark with 12,000 t of HMS 1&2 (80:20), 10,000 t of shredded material and 1,000 t of bonus grade, and 1,000 t of busheling were purchased by a Karadeniz-based producer at the average price of $299/t CFR. Despite active negotiations and fresh deals, the daily price assessment for HMS 1&2 (80:20) from the US East Coast went down to $295/t CFR Turkey. South Korea. September is going to end in a total silence as for the scrap segment. One cannot conquer alone but this time there was the only one producer who continued procurement among lull. 62,000 t of shredded scrap priced at $281.1/t FOB and HS at $293.8/t FOB were collected from Japan. There were no deals with Russian suppliers. Australian iron ore fines 62% Fe moved to $114/t CFR amid improvement in booking activity. 450,000 t were booked on trading platforms. READ MORE... 25 September 2020 Scrap prices started to fall down at the end of the 4th week of September Turkey. At the end of the fourth week of September, mills finally obtained a decrease in the purchase price of the scrap material. A mixed lot of 28 500 t from Finland was purchased by a Karadeniz-based mill. In that deal HMS 1&2 (80:20) was estimated at $296/t CFR, shredded scrap at $301/t CFR and bonus grade at $306/t CFR. Thus, the daily price assessment for HMS 1&2 (80:20) from the US East Coast went down to $296/t CFR Turkey. India. In the Indian scrap market prices are going down as well as in the Turkish one. Shredded material from the UK, Europe and the US waned by $10/t to $310/t CFR. HMS 1&2 (90:10) from Britain is offered at $290-295/t CFR, while the price for HMS 1 from the UAE is the same. Market players are pessimistic and expect further decrease of the price. Australian iron ore fines 62% Fe lost another $0.7/t and stopped at $113.8/t CFR amid negative moods of market players. Meanwhile, rebar futures and Tangshan billet were stable during past days. The forecast for steel segment is unclear as participants of the market are waiting for some fresh deals. READ MORE... 24 September 2020 Iron ore price decreased more on negative sentiment Turkey. None of two parts – suppliers and mills – have done some steps towards each other. The silence continues in the scrap market. Nevertheless, this lull does not affect the prices. The daily price level remains at $300/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Australian iron ore fines 62% Fe decreased to $114.5/t CFR, while futures on the DCE lost $1/t in one day. 360,000 t of iron ore fines were booked on trading platforms on Wednesday 24. The government of Russian Federation announced an increasing of the mining tax. However, the chosen approach is differentiated. The rate of the tax will vary depending on whether minerals are exported or processed in Russia. READ MORE... 23 September 2020 Iron ore keeps losing points while scrap is mostly stable Turkey. Nothing changed within a day in the scrap segment in Turkey. Mills are willing to get lower prices for the material, while suppliers are keeping their offers at the same levels. Thus, the daily price level for HMS 1&2 (80:20) stayed at $300/t CFR Turkey on Tuesday. Australian iron ore fines 62% Fe waned more - by $2.5/t to $117/t CFR over the day. Meanwhile, futures on the DCE plunged by $0.5/t. Only 270,000 t of iron ore fines were bought on trading platforms. However, Tangshan billet and rebar futures are mostly stable amid negative sentiments and lower demand. Market participants prefer to wait for some clarifications in the steel segment. READ MORE... 22 September 2020 Sluggish demand in the Turkish import scrap market Turkey. New week started with some negotiations in the import scrap market. However, participants of the market remained inactive. Despite sluggish situation and worsened demand, the price level for HMS 1&2 (80:20) from the US East Coast remains at $300/t CFR Turkey. Russia. In the Central Federal district consumers are totally maintaining uptrend. A3 is priced at $222-231/t on September 21, the price went up by $6-10/t over the week. Meanwhile, in the Ural Federal district the same material is estimated at $242-249/t. Tags for A3 in the Southern Federal District increased to $229-237/t delivered by rail and as for the material delivered by trucks, - the price moved to $239-261/t CPT mill. Australian iron ore fines 62% Fe subsided to $119.5/t CFR, following futures on the DCE which decreased by $4/t over weekends. Yesterday 490,000 t of iron ore fines were booked on trading platforms, while at ports prices lost $0.7-2.2/t amid low demand. READ MORE... 21 September 2020 South Korean scrap market was refreshened by a huge booking from Russia Turkey. Import scrap market remains silent amid weak demand. Negotiations slowed down and there are no fresh deals. Market players prefer the wait-and-see mode now. Offers for HMS 1&2 (80:20) are at $295/t CFR. The price assessment for HMS 1&2 (80:20) from the US East Coast stays at $300/t CFR Turkey. South Korea. Third week of September was freshened up with a huge booking from Russia. A major steel producer from South Korea bought 83,000 t of Russian A3 priced at $303/t CFR for October shipment. Despite this sizeable lot, there were no actual deals in the segment. HMS 2 from Japan is offered at $291/t CFR South Korea. As for suppliers from the US – there are even no talks, while HMS 1 waned to $310-315/t CFR South Korea. Russia. Export scrap market slowed down last week due to negative sentiments. A3 quotes from Rostov-on-Don are at $295/t CFR Turkey. The same material from St. Petersburg is at $300/t CFR Turkey. Benelux. As finished steel market became weaker, negotiations slowed down and mills refrained from procurement, prices for export material went down in Benelux as well. Last deal was heard at the beginning of third week of September when a Turkish mill purchased a mixed lot in the amount of 40,000 t. In that deal HMS 1&2 (75:25) was priced at $292/t CFR. The daily price assessment for HMS 1&2 (75:25) from Rotterdam is at $268/t FOB and for HMS 1&2 (80:20) from Rotterdam is at $273/t FOB. READ MORE... 17 September 2020 Import scrap market stopped procurement on the third week of September Turkey. Nothing happened in the Turkish market over two days. There were no fresh deals in the scrap segment on the third week of September. However, prices are not falling down, as expected before, being mostly stable. The price assessment for HMS 1&2 (80:20) from the US East Coast stays at $300/t CFR on Wednesday. Market players’ moods are betwixt and between. Some of them are predicting further decline in the price, while others hope for the best. Australian iron ore fines 62% Fe decreased by $4/t to $124/t CFR, following drop in the futures on the DCE. Rebar futures lost $2.5/t, while Tangshan billet - $2.9/t over the day. 600,000 t of iron ore fines were booked on trading platforms yesterday. READ MORE... 15 September 2020 Scrap price went down, while iron ore skyrocketed to a new level Turkey. Import scrap market is silent again with a tone of negative moods prevailing. Market players expect further decrease in the purchase price. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $300/t CFR Turkey at the beginning of third week of September. Offers for the same material from Europe are heard below $300/t CFR. Russia. Prices in Russian scrap segment were still under the uptrend in the first part of the month. A3 quotes are at $238-244/t in the Ural Federal District. It is up by $3-7/t over the week. Bids for the same material in the Central Federal District are at $212-226/t. In the Southern Federal District A3 is priced at $206-209/t delivered by railway. The price range for A3 delivered by trucks is at $234-238/t CPT mill. Australian iron ore fines 62% Fe strike $130/t CFR on September 14 amid market optimism. Meanwhile, futures on the DCE added $1.7/t, rebar futures are mostly stable, Tangshan billet gained $2.9/t since Friday. READ MORE... 11 September 2020 A pause in procurement of scrap Turkey. Scrap market took a pause after a period of active procurement. However, sentiment remains positive and prices are stable. HMS 1&2 (80:20) from the Baltic region is offered at $305/t CFR Turkey. The daily price level for HMS 1&2 (80:20) from the US East Coast remains at $304/t CFR at the end of second week of September. Vietnam. Offers for Japanese material are rising amid uptrend and firm demand. H2 from Japan is traded at $300/t CFR. Kanto Tetsugen, located in Tokyo, increased its price by $13/t to $310/t CFR Vietnam. HMS 1&2 (80:20) from the US went up by $10-15/t to $325/t CFR Vietnam. Australian iron ore fines 62% Fe decreased by $0.5/t to $126/t CFR on September 10. Both lower demand and high supply affected iron ore price. Rebar futures lost $2.6/t, while Tangshan billet - $4.4/t. READ MORE... 10 September 2020 High business activity in the scrap market Turkey. High business activity influence purchase prices in the import scrap market. Suppliers from the USA, Baltic region and Europe are raising scrap quotes. A mixed batch from Canada with 12,000 t of HMS 1&2 (95:05), 12,000 t of shredded material and 8,000 t of P&S were bought by a Karadeniz-based company at the average price of $312/t CFR. Another batch from the North America was traded to a steelmaker from Marmara region. In this deal HMS 1&2 (80:20) was priced at $301/t CFR, shredded scrap at $306/t CFR and bonus grade at $311/t CFR. 15,000 t of HMS 1&2 (75:25), the same quantity of shredded scrap and 10,000 t of bonus scrap from Benelux were purchased by an Izmir-based producer at the average price of $300/t CFR. The daily price assessment increased to $304/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Turkish local market continues to raise purchase prices for domestic scrap by $2-13/t amid business activity and firm demand in the global market. As sentiment got worse and steel segment got weaker, Australian iron ore fines 62% Fe waned to $126.5/t CFR, while futures on the DCE lost $2.8/t on Wednesday 9. Rebar futures lost $8.9/t, while Tangshan billet - $4.4/t. READ MORE... 08 September 2020 Prices for scrap are moving up but without buyers appetite Turkey. The daily price level of HMS 1&2 (80:20) from the US East Coast went up to $302/t CFR Turkey as many suppliers raised their offer prices. Thus, buyers are expecting some decrease of prices to continue procurement. However, there are still some negotiations in the market. Offers for HMS 1&2 (80:20) from the US and Baltic region are heard at $305/t CFR Turkey. Prices for domestic scrap are also moving up amid global uptrend. Some mills raised their prices by $3-19/t for local material. Australian iron ore fines 62% Fe got back $1/t amid bullish moods. The price is at $129.5/t CFR on September 7. Despite this gain, activity in the raw material segment leaves a lot to be desired. Only 80,000 t of iron ore fines were booked on trading platforms on Monday. READ MORE... 07 September 2020 Stable scrap quotes, iron ore loses more than $1/t over one day Turkey. The price for scrap is mostly stable in the Turkish scrap market at the very beginning of September. A mixed lot from the USA was bought by a company from Izmir region. In that deal, HMS 1&2 (80:20) was priced at $300/t, shredded scrap at $305/t CFR and bonus grade at $310/t CFR. Producer from Marmara region purchased a batch from the US with HMS 1&2 (80:20) at $299/t CFR, shredded material at $304/t CFR and bonus at $309/t CFR. Moreover, there were fresh deals with the suppliers from the Baltic region. Marmara-based and Izmir-based mills bought HMS 1&2 (80:20) from the Baltic Sea at $299-300/t CFR. European HMS 1&2 (80:20) priced at $292/t CFR was traded at the end of last week. A3 from Russia was bought at $295/t CFR Karadeniz. Despite new deals, the price level for HMS 1&2 (80:20) from the US East Coast did not move up and stays at $300/t CFR. South Korea. Due to the global uptrend in the segment and local firm demand, buyers had to embrace the change of scrap price. 20,000 t of Russian A3 changed hands at $303/t CFR for October shipment. In the previous deal the same material was priced at $295/t CFR. Japanese HMS 2 was bought at $277-282/t CFR South Korea. Offers for HMS 1 from the US are heard at $310/t CFR. All given above prices are nominal, as the majority of importers are trying to avoid restocking these days. Meanwhile, Australian iron ore fines 62% Fe decreased by $1.1/t to $128.5/t CFR amid waning seaborne market on Friday. Rebar futures went down by $5.3/t, while Tangshan billet - $1.5/t. READ MORE... 04 September 2020 Turkish import scrap market under upward trend Turkey. The rate of rise for scrap quotes is quite hasty amid new deals and active negotiations. A mill from Karadeniz region bought a mixed lot from the Baltic region, including HMS 1&2 (80:20) priced at $300/t CFR, shredded material at $305/t CFR and bonus grade at $310/t CFR. Another contract with a Baltic supplier signed a producer from Marmara. In this deal HMS 1&2 (80:20) was bought at $299/t CFR and bonus scrap at $309/t CFR. Considering new purchases, the daily price level for HMS 1&2 (80:20) from the US East Coast increased to $300/t CFR Turkey on August 3. Vietnam. The situation in the Vietnamese scrap market was stable during last week. What’s more, in early September there were no deals or any negotiations too. The market is silent, buyers are waiting for some first steps. However, prices are moving up in the recent offers. H2 from Japan is priced at $310-315/t CFR. HMS 1&2 (80:20) from the USA went up to $310/t CFR. Australian iron ore fines 62% Fe went up to $129.6/t CFR amid positive sentiment and rumors about shortage of supply. Tangshan billet added $4.4/t, while rebar futures - $1.8/t. READ MORE... 03 September 2020 Scrap market gets back on track Turkey. Business resumes in the Turkish import scrap market after a one-week pause. A mixed lot from the US with 19,000 t of HMS 1&2 (80:20) priced at $299/t CFR, 5,000 t of shredded material at $305/t CFR and 6,000 t of P&S at $309/t CFR was bought by an Iskenderun-based mill on September 2. All in all, offers from the US are getting higher, pushing the quotes for scrap from other regions. HMS 1&2 (80:20) from the UK changed hands at $287.5/t CFR Iskenderun. The average price for the mixed cargo from Belgium including 25,000 t of HMS 1&2 (75:25), 10,000 t of shredded material, 5,000 t of busheling and 5,000 t of bonus grade worked out at $294/t CFR. The daily price level for HMS 1&2 (80:20) from the US East Coast skyrocketed to $299/t CFR Turkey. Australian iron ore fines 62% Fe rose to $128/t CFR amid stable and optimistic sentiment in the steel segment. Meanwhile, futures on the DCE gained only $1.2/t over the day. As arrivals of iron ore at Chinese ports decreased to 12.85 million t on the last week of summer, some players sounded a note of warning about the possible supply shortage. However, 340,000 t were booked on trading platforms on September 2, while prices at ports added $0.7-1.5/t. READ MORE... 02 September 2020 Pending the new wave of sales Turkey. Autumn greeted import scrap market with stillness. New wave of procurement for September shipment is already hanging in the air. Mills are still waiting for price decrease, ready for restock. Meanwhile, suppliers are raising their offers without any worries, feeling the need of buyers. HMS 1&2 (80:20) from the Baltic region is offered at $295/t CFR and higher. However, as there were no fresh deals, the daily price assessment for HMS 1&2 (80:20) from the US East Coast stays at $290/t CFR Turkey. Australian iron ore fines 62% Fe gained $1.25/t on September 1, while futures on the DCE added only $0.4/t. The price for iron ore is at $125.5/t CFR. 430,000 t were booked by Chinese customers on trading platforms. Market participants are optimistic, as steel quotes are firm and activity in the seaborne market is high. National Mineral Development Corporation (India) is going to resume operations at Karnataka-based Donimalai mine. NMDC will have to pay 37.5% premium for the use of mine to the government. The previous statement about the premium rate was made in 2018 – it was 80% of average sale, thus, the mine had to suspend. READ MORE... 01 September 2020 Improved trading activity spurred the growth of iron ore price Turkey. Import market remains silent with no fresh deals and active negotiations. Suppliers insist on the current price level, while buyers are waiting for some price decrease. Despite this clash, prices are mostly stable. The daily price assessment for HMS 1&2 (80:20) from the US East Coast remains the same - $290/t CFR Turkey on the last day of summer. Russia. The price trend in Russia is unclear. In the Central Federal District price for A3 widened to $211-221/t over the week. The same material in the Ural Federal District is offered at $214-229/t. The price level for A3 in the Southern Federal District is at $217-222/t delivered by railway and $229-246/t delivered by trucks. As we can notice, some regions prefer to be at the stable point, while others are likely to take risks and start bearish trends. Australian iron ore fines 62% Fe went up by $1.25/t to $124.25/t CFR amid rapid increase of seaborne trading activity. 560,000 t of iron ore fines were booked on trading platforms on August 31. Rebar futures gained $6.6/t, while Tangshan billet - $7.3/t over the weekends. READ MORE... 31 August 2020 Scrap tags remain stable amid silence in the segment Turkey. Last week ended with a silence on fermata as import scrap market went under after an active period of procurement. The daily price level for HMS 1&2 (80:20) from the US East Coast remains at $290/t CFR Turkey. Market players expect first week of September to be a bundle of energy as for import scrap segment. Prices for domestic material also inched up amid increased tags for imported scrap. Demand is still firm as producers are inclined to refill their stocks in the nearest future. South Korea. Prices for HMS 2 from Japan rose in last deals to $282-287/t CFR South Korea. A3 from Russia is estimated around $295/t CFR South Korea. The price level for HMS 1 from the US went up by $5/t to $300/t CFR. Pakistan. Due to weather states and the absence of demand, Pakistani import scrap market is considered to hibernate. Some rare deals are reported though. HMS 1 from the UK was bought at $290-295/t CFR. Offers for shredded material from Europe are heard at $305-310/t CFR. India. Prices are mostly stable in the Indian scrap segment. Shredded scrap from Europe and the US remains at $315-320/t CFR. HMS 1&2 (90:10) is offered at $305/t, unchanged. There are no negotiations along with the deficiency of demand and monsoon season. Australian iron ore fines 62% Fe got back $2/t, being at $123/t CFR on Friday 28. Rebar futures went up by $2.5/t, while Tangshan billet rose by $1.5/t. Futures on the DCE gained $2.6/t. The reduction of the inventories at ports made a certain effect on iron ore fines. Thus, market players believe that the price will continue to fluctuate above $120/t CFR. READ MORE... 28 August 2020 Iron ore subsides amid new restrictions, while scrap keeps rising Turkey. The purchase price level keeps rising in the import scrap market as new deals are reported at the last week of August. An Iskenderun-based mill bought a mixed lot from Denmark, including HMS 1&2 (80:20) at $290/t, shredded scrap at $295/t CFR and bonus grade priced at $300/t CFR. Offers for HMS 1&2 (80:20) from Baltic region increased by $7/t. The daily price assessment for HMS 1&2 (80:20) from the US East Coast moved to $290/t CFR Turkey. Market participants expect more deals with higher prices next week. Australian iron ore fines 62% Fe lost $2.5/t amid new portion of production restrictions in Tangshan. The current price is at $121/t CFR, futures on the DCE also waned on August 27 by $2/t. Only 190,000 t of iron ore fines were booked yesterday. By means of partial reduction of steelmaking operations, Chinese government plans to improve the air quality. READ MORE... 27 August 2020 Price for scrap gathers pace Turkey. As usual, after a lull in the import scrap market, mills started to resume procurement. Scrap material from the USA and Europe increased in purchase price in new deals. A Marmara-based mill bought HMS 1&2 (80:20) from the US priced at $288/t CFR on the last week of August. Another company in Izmir purchased a mixed lot at the average price of $290.5/t CFR from Belgium. An exporter from the same region sold cargo to a Karadeniz based mill at the average price of $286/t CFR. The price level for HMS 1&2 (80:20) from the US East Coast rose by $1/t over the day to $288/t CFR Turkey. UK. August started with improved business activity in the scrap segment. Firm local demand supported scrap market. However, as market in Turkey slowed down in the middle of the month, British players decided to ease down both their ambitious about the price and their negotiations with all the buyers. Despite the fact that Turkish suppliers are in the play field over past three days, suppliers from the UK are still silent. The price level for HMS 1&2 (80:20) stays around $281/t CFR. Some British participants of the market suppose that the uptrend in Turkey will embolden domestic scrap segment. Australian iron ore fines 60% Fe increased by $2.5/t to $123.5/t CFR on August 26 amid improvement of futures on the DCE which gained $2.2/t. 160,000 t of iron ore were sold on trading platforms on Wednesday. READ MORE... 26 August 2020 Another wave of purchasing in the scrap market Turkey. Finally some new deep sea deals were heard in the Turkish import scrap market. A supplier from the US sold a mixed lot with HMS 1&2 (80:20) priced at $287.5/t CFR, shredded material at $292.5/t CFR and bonus grade at $297.5/t CFR. Thus, the daily price assessment increased to $287/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Another buyer from Turkey purchased 24,500 t of HMS 1&2 (80:20) at $283/t CFR and 7,000 t of bonus scrap at $293/t CFR. HMS 1&2 (80:20) from Poland at $283/t CFR was bought by the other Turkish mill. Market players are being positive, expecting further uptrend in purchase prices. Australian iron ore fines 62% Fe decreased by $5.5/t to $121/t CFR on August 25. Meanwhile, futures on the DCE lost $4/t amid slow trade. Only 95,000 t of iron ore were booked on trading platforms on Friday 21. What’s more, gradual improving of global supply also affects the price in the steel segment. However, demand remains firm and moods of market participants are positive. READ MORE... 25 August 2020 Struggle between scrap suppliers and buyers has a certain vogue Russia. In the third week of August sellers were still insisting on current prices. Meanwhile, importers were trying to get discounts due to worsened situation in the scrap market. A3 from Rostov-on-Don was bought at $281/t CFR Turkey. Offers for A3 from St. Petersburg went down by $1-3/t to $284/t CFR Turkey. Nevertheless, many market players are optimistic, expecting increase of the purchase price in the nearest future. Besides, the discussion about the imposition of scrap export quotas was delayed once more by Russian government. Some participants cast doubt on arranging this meeting. The topic is going to be discussed after mid-September. Benelux. Scrap market in Europe is in wait-and-see mode due to the lack of deals from Europe and Turkey. There were almost no negotiations in last 2 weeks as business activity remained low. However, some short sea deals with HMS 1&2 (80:20) priced at $271/t CFR and $284/t CFR were reported last week. The daily price assessment for HMS 1&2 (75:25) from Rotterdam is at $251.5/t FOB, for HMS 1&2 (80:20) is at $256.5/t FOB. READ MORE... 24 August 2020 Scrap offers went up in Asia Turkey. Import scrap market remains silent amid inconsistency between the two points of view. Sellers are trying to keep the purchase price over $280/t CFR, while buyers are insisting on lower levels. As there were no fresh deals, the daily price assessment for HMS 1&2 (80:20) from the US East Coast went down to $282/t CFR Turkey. Vietnam. Despite certain downtrend in the Turkish market, prices for imported material went up in Vietnamese scrap segment. H2 from Japan increased to $300/t CFR over two weeks amid firm demand and tight supply. Insiders reported about a fresh deal for H2 priced at $297/t CFR. Some small cargoes with H2 were bought at $280-290/t CFR. HMS 1&2 (80:20) from the US is offered at $300/t CFR Vietnam versus $280/t CFR two weeks ago. HMS 1&2 (50:50) from Hong Kong is at $280/t CFR Vietnam. South Korea. The uptrend reached South Korea, where price ideas hiked in the second part of August. HMS 2 from Japan is at $288/t CFR South Korea (+ $24/t over 10 days). Offers for A3 from Russia are heard at $290/t CFR South Korea. HMS 1 from the USA is estimated at $300/t CFR. South Korean buyers prefer to refrain from purchasing at this price levels, they are waiting for cut in prices. Australian iron ore fines 62% Fe went down by $0.5/t to $126.5/t CFR on August 21. Meanwhile, futures on the DCE lost $0.9/t. However, at the end of the third week of August rebar futures gained $2.6/t, while Tangshan billet - $1.4/t. 320,000 t of iron re were booked on trading platforms. Nevertheless, market players expect decline in the iron ore price in the second half of 2020 because of recovery in Brazil’s shipments. READ MORE... 21 August 2020 The lull in the scrap market continues, while iron ore price dropped a little Turkey. The daily price assessment does not change due to the lull in the market. The price assessment stays at $284/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. As prices for imported material went down, local purchase prices followed them at the end of third week of August. Domestic scrap price lost $4-15/t. Main reasons – weaker demand, lowering of activity in the import segment and downtrend of rebar levels. India. Demand is also weak in the Indian scrap market. Steel segment is affected by the situation in the Turkish market as well. There were no fresh deals over the week. However, offers for shredded material from Europe and the USA widened to $315-320/t CFR. HMS 1&2 (90:10) from the same regions is priced at $305/t CFR. Australian iron ore fines 62% Fe lost $0.5/t over the day and were at $127/t CFR after futures on the DCE decreased by $1.3/t. Nevertheless, stockpiles of iron ore at ports went up to 117.45 million t. That is the highest level since April. READ MORE... 20 August 2020 Both iron ore and scrap prices are stable Turkey. The daily price level of HMS 1&2 (80:20) from the US East Coast stays at $284/t CFR Turkey amid silent import scrap market. This lull is caused by both the unwillingness of suppliers to make discounts and the appetency of mills for lower prices. Japan. Association of scrap dealers from Tokyo sold 22,000 t of HMS 2 priced at $257.9/t FAS amid bullish sentiments. Market participants expect consolidation of higher price level. Japanese HMS is offered at $265.3/t FOB South Korea. Tokyo Steel raised the price for HMS 2 by $9.5/t for the second time in one week. Australian iron ore fines 62% Fe remained at $127.5/t CFR on August 19. However, futures on the DCE lost $0.9/t over the day. Demand for steel is strong, 720,000 t of material were booked on trading platforms on Wednesday. Market players believe that the price will be more or less stable over the next few weeks. READ MORE... 19 August 2020 Iron ore price skyrocketed to the level of January 2014 Turkey. Some new deals were reported on August 18. Turkish mills were not ready to buy deep-sea material at such high prices, so they preferred to cooperate with short-sea suppliers. A3 from Russia was purchased at $281/t CFR. HMS 1&2 (80:20) from the Adriatic Sea was bought at $271/t CFR. As there are no fresh deals with suppliers from the USA, and the price level for short-sea scrap slipped down, the daily price assessment lost $1/t and is at $284/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Australian iron ore 62% Fe fines skyrocketed to $127.5/t CFR on August 2014. The price went up by $6/t over the day. This is the highest level in almost last 6 years. The surge was caused by improved expectations of market participants concerning steel demand as well as the fact of limited supply of iron ore. READ MORE... 18 August 2020 Iron ore took back some points, while scrap price remains at the same level Turkey. The daily quote for HMS 1&2 (80:20) from the US East Coast is still at $285/t CFR Turkey as there were no fresh deals reported in the import scrap market. Sellers are keeping their offers high, expecting a new wave of purchasing in a short time. Meanwhile, mills are going to insist on discounts in new deals. Russia. Purchase prices are rising in the Russian scrap market amid strong competition. The price range for A3 in the Southern Federal District moved to $227-249/t delivered by trucks and to $216-221/t delivered by rail. The same material in the Ural Federal District widened to $219-228/t. In the Central Federal District A3 went up to $215-220/t. Japan. Tokyo Steel increased purchase price for HMS 2 by $9.4/t in the fifth time in a month. HMS 2 is offered now at $215.9-234.7/t on August 18. Australian iron ore fines 62% Fe gained $0.9/t due to activity in the steel segment. The new price is at $121.5/t CFR. 370,000 t of iron ore were booked on trading platforms on August 14. READ MORE... 17 August 2020 Scrap market on a pause Turkey. Last week ended without fresh deals, as many mills decided to take a pause in procurement. Thus, insiders do not know about the future of the price. On the one hand, Turkish companies need the material for September shipment. On the other – mills also need to take a breath after a period of active buying. The daily price level for HMS 1&2 (80:20) from the US East Coast decreased to $285/t CFR Turkey. India. Offers for shredded material from Europe are heard at $305-315/t CFR. HMS 1&2 (80:20) from South Africa is at $290/t CFR in the mid August. Bonus scrap from the same region is priced at $310/t CFR. Market players are expecting to close many deals this week due to the rebounded steel industry. Last week a supplier from the UK sold 1 000 t of shredded material priced at $315/t CFR India. Benelux. Despite the fact that there are no new deals in the scrap export market, moods are mostly positive among market participants. The price idea for HMS 1&2 (80:20) is at $285-287/t CFR. The price assessment for HMS 1&2 (80:20) from Rotterdam is at $255/t FOB, for HMS 1&2 (80:20) from Rotterdam – at $260/t FOB. Australian iron ore fines 62% Fe went down by $1/t to $120.6/t CFR amid easing activity on trading platforms on Friday. However, rebar futures increased by $1/t, while futures on the DCE added on August 14. READ MORE... 14 August 2020 Scrap market is going to bounce back next week Turkey. No more deals were reported in the import scrap market since last week. Some market players believe that companies are just waiting for another round of purchasing for September shipment. The daily price assessment remains at $287/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Vietnam. Imported scrap segment improved the level of purchases to 522,112 t in July 2020 due to firm demand for billets in both foreign and domestic markets. Main deals are closed with suppliers from Japan and Hong Kong. Europe. Strong demand prevails over the moods of market participants. Many European producers are ready for active business in September. Offers for scrap material added EUR 10-15/t over July. However, local scrap collection remains weak amid seasonal adjustment. Italy. Local market is silent during this week as it is a period of holidays. Some mills bought E3 priced at EUR 220-225/t delivered, E8 at EUR 235-240/t delivered and E40 at EUR 230-235/t delivered from Germany and Eastern Europe. Any forecasts market insiders will be able to make after 24th of August when the steel industry bounces back. Australian iron ore fines 62% Fe decreased by $0.4/t to $121.6/t CFR over August 13, while rebar futures lost $2/t. Buying activity on trading platforms also slowed down a bit to 500,000 t versus last week level. READ MORE... 13 August 2020 Turkish mills took a break, but plan on further procurement Turkey. Turkish traders are expecting a new wave of contracts soon as many mills are still interested in procurement. However, on August 12 and 13 there were not fresh deals reported. So, the daily price level for HMS 1&2 (80:20) from the US East Coast remained the same - $287/t CFR Turkey. Prices for local material are rising amid fluctuations of the national currency. Due to lira weakening, some mills increased prices for domestic scrap by $1-9/t. Australian iron ore fines 62% Fe were priced at $122/t CFR on August 12. Strong buying activity on trading platforms, sales from stocks, import buying – all of those factors are maintaining iron ore price. Chinese steel segment is slowly improving after the rainy season. READ MORE... 12 August 2020 Bullish moods support scrap price Turkey. The daily price assessment remains at the same level, $287/t CFR Turkey, for HMS 1&2 (80:20) from the US East Coast as there were no fresh deals reported over the day. Moods of the market players are still positive. However, many of them prefer now to wait for a few days in order to reconnoiter the ground. Bangladesh. Import scrap market began to recover after coronavirus pandemic and lockdown. A steel producer bought a mixed lot from the USA with HMS 1&2 (80:20) priced at $307.5/t CFR, shredded material at $312.5/t CFR and 7,000 t of busheling priced at $322.5/t CFR.Offers for material from Europe, Baltic region, South America are also increasing. Market participants hope that steel segment will continue to rebound in the next weeks. Australian iron ore fines 62% Fe filled the gap and increased by $1.5/t CFR to $120.1/t CFR on Tuesday. Iron ore was supported by active buying on trading platforms on August 11. READ MORE... 11 August 2020 Iron ore slightly goes down, while scrap remains high&stable Turkey. On the second week of August some new deals were reported in the import scrap market. HMS 1&2 (80:20) priced at $285/t CFR, shredded scrap at $290/t CFR and bonus material at $295/t CFR were bought by an Izmir-based mill from the US. A mixed lot was bought from Sweden with HMS 1&2 (80:20), shredded material and bonus grade at the same prices by a mill from the Marmara region. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is still at $287/t CFR Turkey. Europe. Quotes for scrap material are rising in August in Benelux amid new closed deals reported. HMS 1&2 (80:20) is offered now at $278-279/t CFR in deals from Belgian and Dutch producers. Last week a collector from Belgium sold 35,000 t of scrap, including HMS 1&2 (80:20) at $249-250/t CFR. However, other European suppliers offer the same material at $280/t CFR. The daily price level for HMS 1&2 (75:25) from Rotterdam is at $257/t FOB, for HMS 1&2 (80:20) from the same region – at $262/t FOB. Russia. Market participants are a bit exhausted from the continuous upward trend in the steel market. Mills are not ready to accept the price that is going up again and again. Nevertheless, A3 price level in the Central Federal District moved up to $211-219/t amid competition between consumers. In the Ural Federal District A3 is offered at $219-223/t. Bids for A3 in the Southern Federal District went up slowly, reaching $218-223/t on August 10. Australian iron ore fines 62% Fe slightly went down to $118.6/t CFR amid worse sentiment in the market. Tangshan billet decreased by $1.5/t to $490/t, while rebar futures lost $10/t over the weekends. READ MORE... 10 August 2020 Scrap market blossoms in August 2020 Turkey. Last week ended with positive moods among market players as prices were gaining pace. Turkish import scrap market is blossoming out with new deals. 18,000 t of HMS 1&2 (80:20), 3,000 t of shredded material and 6,000 t of P&S were bought from the USA at the average price of $291/t CFR by an Iskenderun-based company. Another deal closed the same mill with an Estonian seller. 16,500 t of HMS 1&2 (80:20), 5,000 t of shredded material and 1,500 t of bonus grade were purchased at $285/t CFR, $290/t CFR and $295/t CFR respectively. A mixed batch with HMS 1&2 (80:20) priced at $285/t CFR, shredded material at $290/t CFR and bonus scrap at $295/t CFR was bought by an Iskenderun producer. Taking into account fresh deals, the daily price level for HMS 1&2 (80:20) from the US East Coast increased to $287/t CFR Turkey. South Korea. Offers for HMS 2 from Japan are heard at $255-260/t CFR. A3 from Russia has the same price level - at $260-265/t CFR South Korea. HMS 1 from the US is priced at $270-275/t CFR South Korea. Australian iron ore fines 62% lost $1.2/t on Thursday 6. The recent price is at $119/t CFR, while futures on the DCE went down by $2/t on revealed record of imports in July. China bought 112.65 million t during the middle summer month, that is up by 10.8% m-o-m. READ MORE... 07 August 2020 Record iron ore price in more than 1 year Turkey. Turkish mills continue the procurement. A seller from UK closed a deal with an Iskenderun-based company for HMS 1&2 (80:20) at $281/t CFR, bonus grade at $291/t CFR and rails at $296/t CFR. An Izmir-based company bought Dutch HMS 1&2 (80:20) and bonus material at $278/t CFR and $288/t CFR respectively. Russian A3 was bought at $280/t CFR by a Karadeniz-based mill. The daily price assessment added $1/t over the day, and is at $284/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Vietnam. Offers for Japanese H2 increased to $275-280/t CFR in last 10 days due to strong demand. Japanese HS is at $300-310/t on August 6. Shredded scrap from Japan is offered at $300-303/t CFR. Vietnamese mills are going to buy more Japanese scrap as an alternative to Chinese. HMS 1&2 (80:20) from the US is priced at $280/t CFR Vietnam. Italy. Italian scrap market is mostly stable in August with no special business activity as mills prefer to wait for the last week of August and refrain from major transactions. However, some offers from Slovenia, Austria and Hungary are heard. E3 is at EUR 220-225/t delivered, E8 – at EUR 235-240/t delivered and E40 – at EUR 230/t delivered. Australian iron ore fines 62% Fe skyrocketed to $120.2/t CFR on August 6 due to strong steel consumption and firm demand. 620,000 t were booked on platforms over the day. Rebar futures added $3.7/t, while Tangshan billet - $2.9/t. Market participants are optimistic about the nearest future of steel segment. READ MORE... 06 August 2020 Strong demand for scrap material Turkey. Offers for scrap material are increasing amid firm demand. HMS 1&2 (80:20) amid with shredded scrap and bonus grade were bought from Finland by a Marmara-based mill at the average price of $288/t CFR. A company from the same region purchased a mixed lot from Belgium with 20,000 t of HMS 1&2 (75:25), 10,000 t of shredded scrap and 10,000 t of HMS 1. As there were no fresh deals with American suppliers, the price level for HMS 1&2 (80:20) stays at $283/t CFR. The absolute majority of mills in Turkey raised their prices for material by $6-11/t amid global uptrend. Prices for imported scrap set the scene for domestic material. South Korea. Producers hold an interest in import scrap, especially from Russia and Japan. Two cargoes both about 6,000 t with A3 were bought from Russia priced at $258.5/t CFR South Korea. HMS 2 from Japan at $255.5/t CFR South Korea was purchased in early August. Australian iron ore fines 62% Fe calmed down by $0.25/t to $116.5/t, following the same decrease in the futures on the DCE. READ MORE... 05 August 2020 Scrap price rising amid pushy moods Turkey. The daily price assessment increased to $283/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. This move is a reflection of new sales in the import market. An exporter from Belgium sold 10,000 t of HMS 1&2 (75:25), 20,000 t of shredded scrap and 10,000 t of HMS 1 at the average price of $282.5/t CFR Turkey. Another mixed lot was bought by a Turkish mill from Germany with HMS 1&2 (75:25) priced at $275/t CFR. Market players expect further increase in the scrap price as moods are becoming more and more pushy. Due to active business in the import segment of the market, some Turkish producers decided to raise purchase price by $3-13/t for local material. Japan. Tokyo Steel continued to lift purchase prices for HMS 2 at Utsunomiya. The price for material moved up to $217.1/t. Australian iron ore fines 62% Fe added $1.5/t over the day, being at $116.75/t CFR on August 4. Futures on the DCE gained $2.4/t. Active booking on trading platforms resulted in 620,000 t in total. Rio Tinto, Australian mining giant, began to close deals with Chinese Antsteel Group in the yuan. Using the Chinese national currency helps the company to expand business in China. First spot contract in the yuan was signed in October 2019. READ MORE... 04 August 2020 Iron ore is trying to repeat its own August record Russia. On August 3 prices are still climbing despite a period of silence in the market due to holidays in Turkey. The price range for scrap in the Central Federal District widened to $203-214/t during last days of July. Market players in the Ural Federal District find current prices boosted. The price level for A3 in the region is about $214-219/t. Companies in the Southern Federal District offer A3 delivered by railway at $215-218/t. Offers for A3 delivered by trucks are heard at $221-243/t CPT mill. Australian iron ore fines 62% Fe skyrocketed by $4.75/t to $115.25/t CFR, following a decrease in the futures on the DCE which gained $3.4/t. Optimistic moods of market participants supported iron ore. Rebar futures and Tangshan billet also moved up by $8.4/t and $4.3/t respectively. Iron ore tags rose in India, where National Mineral Development Corporation also increased prices for local iron ore for August by (the average) $2.6/t. Production of iron ore rose by 12% year-on-year, while sales went up by 7% y-o-y. READ MORE... 03 August 2020 Market players take a rest after active period Turkey. Dar al-Islam celebrates Kurban Bayram since July 30, so the import scrap market was silent for almost 5 days. As there were no fresh deals, prices are stable. The daily price level for HMS 1&2 (80:20) from the US East Coast is still at $279/t CFR Turkey. Some Turkish buyers are going to continue negotiations after holidays, others have already done their procurement for August shipment. The nearest forecast is unpredictable due to unclear moods of market players. Nevertheless, there are a lot of offers in this segment from the Baltic region as well as from the USA. HMS 1&2 (80:20) from those regions is heard at $277-279/t CFR Turkey. First half of 2020 was not easy for domestic scrap sector due to coronavirus outbreak and country-wide lockdown. However, sales rate in June was a horse of a different color. Turkey imported more than 1.5 million t of scrap; it is plus 19.3% year-on-year. Shipments from Europe increased by 33.2%, from the USA – by 11.3%, from Russia – by 42.5%. Pakistan. Prices went up in Pakistani import scrap market due to global upward trend. The average surplus is around $20/t. Last week 1,000 t of shredded material was purchased from Europe at $305/t CFR. 15,000 t of the same material from the UK were released priced at $300-305/t CFR. A fresh booking of HMS 1&2 (90:10) from Europe at $280/t CFR was also heard last week. South Korea. Business activity is high in South Korea as well. Japanese HMS 2 was bought at $252-257/t CFR at the end of last week. The nominal price for HMS 1 from the USA is at $270-275/t CFR South Korea. Offers for A3 from Russia added several dollars and are at $260-265/t CFR South Korea. India. For the first time since January 2020, prices for shredded scrap are at $300-305/t CFR (from the UK, the USA and Europe). HMS 1&2 (80:20) from the USA and Europe is offered $270-280/t CFR. The same material from Africa is at $265-270/t CFR. 1,000 t of shredded scrap from the US changed hands at $300/t CFR Nhava Sheva. Russia. The nominal price for Russian A3 from Rostov-on-Don moved up by $1-3/t to $272-274/t CFR Turkey. Fresh deals were not heard, because many sellers decided to wait for further increase in prices, while others continue to negotiate. Benelux. Actually, there were not new bookings of scrap from Turkey. However, Benelux market is under certain influence of the global uptrend. The daily price assessment for HMS 1&2 (75:25) from Rotterdam moved to $251/t FOB, while HMS 1&2 (80:20) from the same region is at $256/t FOB. Australian iron ore fines 62% Fe remained at $110.5/t CFR, while futures on the DCE gained $1.4/t on July 31. Trading at port was quite calm on the last Friday of July. READ MORE... 31 July 2020 Further advance of the scrap price, iron ore is stable Turkey. Active procurement in the Turkish scrap market continues with renewed vigour on July 30. Four fresh deals were heard in one day. However, nobody received particulars of them. Yet, HMS 1&2 (80:20) from the Baltic-region was heard to be booked at $277.5-279/t CFR. The same material from the US was bought at $276.5/t CFR by an Izmir-based company. European HMS 1&2 (80:20) was purchased at $275/t CFR by another Turkish company from Iskenderun region. The daily price assessment increased to $279/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Australian iron ore 62% Fe did not change over the day. Meanwhile, futures on the DCE went down by $0.2/t. Buying on trading platforms kept up with target level, 400,000 t of iron ore were actually sold on July 30. Iron ore prices are hiking in CIS at the end of July due to global uptrend. Most active participants are – as usual – Chinese customers. They are mainly interested in pellets and concentrate. Of course, the situation got worsens a bit a few days ago amid tensions between the USA and China. Nevertheless, sellers hope against hope and actually are moving their prices up. READ MORE... 30 July 2020 Scrap prices moved to a new level before holidays Turkey. Fresh deals in the import scrap market moved purchase prices up again. A mixed lot of 35,000 t from Latvia was bought by an Iskenderun-based mill for September shipment with HMS 1&2 (80:20) priced at $276/t CFR, bonus material at $286/t CFR and busheling at $291/t CFR. Another mill from the same region purchased HMS 1&2 (80:20) priced at $273/t CFR, shredded material at $278/t CFR and bonus grade at $283/t CFR. HMS 1&2 (80:20) and bonus scrap from the Baltic region were booked by an Izmir-based company at $275/t CFR and $285/t CFR respectively. Due to several new steps in procurement, the daily price level increased to $276/t CFR for HMS 1&2 (80:20) from the US East Coast. Despite tightening tensions between China and the USA, Australian iron ore fines 62% Fe bumped up to $110.5/t as well as futures on the DCE (+ $3.1/t) over the day. Business activity is extremely high on trading platforms. On July 29 buyers booked 825,000 t of raw material. Rebar futures went up by $6/t and Tangshan billet by $1.4/t. READ MORE... 29 July 2020 Forthcoming holidays affect scrap price Turkey. After a period of active procurement for August shipment, Turkish import scrap market took some time off on Tuesday 29. As there were no fresh deals, the daily price level remains at $271/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Some market participants believe that prices are going to decrease because of forthcoming holidays, others expect further increase after a short period of silence. In the meantime, Australian iron ore fines 62% Fe went down by $0.5/t to $106.5/t CFR due to pessimistic moods among market players. However, futures on the DCE gained $0.8/t over the day. Also, 410,000 t of iron ore were booked on trading platforms on July 29. READ MORE... 28 July 2020 Iron ore worsened amid political situation between China and the USA Turkey. Business activity is still high in the Turkish scrap market. Sellers from the USA and Baltic region are especially interested in new deals as the price is moving up. A mixed lot from the Baltic region with 25,000 t of HMS 1&2 (80:20) priced at $271/t CFR and 5,000 t of bonus scrap priced at $281/t CFR was purchased by an Izmir-based company at the end of last week. Supplier from the USA sold 15,000 t of shredded scrap and 15,000 t of bonus material at the average price of $277.5/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast increased to $271/t CFR Turkey. Russia. Russian scrap market is following global uptrend, moving purchase prices up. Price for A3 went up to $203-216/t in the Central Federal District. The same material in the Ural Federal District is at $211-219/t depending on destination. Meanwhile, in the Southern Federal District scrap material delivered by railway is at $204-216/t. Market players are waiting for stabilization of prices in the nearest future. Japan. Tokyo Steel decided to move purchase price up for the second time in July amid global upward trend. Japanese HMS 2 is offered now at $213.3/t, it is up by $4.7/t. Australian iron ore fines 62% Fe went down by $1/t to $107/t CFR due to the new acts from the governments of China and the USA. Futures on the DCE lost $1.9/t over the day, port trade worsened. Nobody can predict the future of iron ore price because of intensifying tensions between China and the USA. READ MORE... 27 July 2020 Global uptrend of scrap price Turkey. Active procurement for August shipment led to strong price increase in the Turkish import scrap market. Last week HMS 1&2 (80:20) was priced at $269.5/t CFR in the fresh deal with an exporter from the USA. The daily price assessment is at $270/t CFR for HMS 1&2 (80:20) from the US East Coast. Vietnam. Vietnamese market players are not satisfied with the current price level for Japanese material. Exporters from Japan raised their prices by $10/t to $255-270/t CFR for H2, offers for HS are now at $287-290/t CFR. However, buyers booked 5,000 t of Japanese H2 priced at $255/t CFR. India. Import market leaves a lot to be desired in India in July due to imposed by the government lockdown. Offers for shredded material in containers from Europe and the USA are heard at $290/t CFR, while HMS 1&2 (80:20) from Britain and Brazil is at $260-265/t CFR and HMS 1 is at $270-275/t CFR from the same region. Russia. Not only Turkish buyers were interested in Russian material last week. 10,000 t of A3 priced at $254/t CFR were bought by a South Korean importer. Meanwhile, price for the same material from Rostov-on-Don is at $269/t CFR Turkey. Still, global uptrend has a certain impact on the price, so market participant expect further increase this week. Benelux. Exporters in Europe are waiting for higher prices in order to start selling material. Offers for HMS 1&2 (80:20) were at $270/t CFR on July 24. Nevertheless, sellers are willing to reach higher price levels in deals with Turkish customers. The price assessment for HMS & (80:20) and HMS 1&2 (75:25) from Rotterdam is at $247/t FOB and $242/t FOB respectively. By the way, Australian iron ore fines 62% Fe went down by $0.65/t to $108/t CFR, following decrease by $2.6/t of futures on the DCE. Rebar futures lost $8.4/t, while Tangshan billet moved down by $2.9/t. The reason for this downward adjustment are boosting tensions between China and the US. READ MORE... 24 July 2020 Prices for scrap material keep rising Turkey. Import scrap market lives better days in the second-to-last week of July. A mixed lot form the USA was bought by a Turkish mill, including 30,000 t of shredded material priced at $275/t CFR, 7,000 t of HMS 1&2 (80:20) priced at $270/t CFR and bonus scrap at $280/t CFR. A cargo from Russia with 18,000 t of HMS 1&2 (95:05) at $275/t CFR was bought by an Iskenderun-based company. Due to fresh sales, the daily price level for HMS 1&2 (80:20) from the US East Coast went up to $270/t CFR Turkey. By the way, prices for Turkish local material also increased amid high prices for imported ferrous scrap. Many mills put up purchase prices by $3-15/t. South Korea. Korean import scrap market started to recover from long-lasting stillness. Two fresh deals were heard this week. 10,000 t of A3 from Russia priced at $254/t CFR were booked by a South Korean importer. Another importer purchased a lot from Japan with shredded material at $265.9/t CFR South Korea and HS at $270.6/t CFR. Australian iron ore fines 62% Fe went down by $2.75/t to $108.65/t CFR amid port inventories rose to 115.05 million t this week. That’s why buyers booked 430,000 t of iron ore on trading platforms on July 23 versus 320,000 t on July 22. READ MORE... 23 July 2020 Scrap & iron ore prices are moving up Turkey. Market players became active again on July 22. A mixed batch with HMS 1&2 (80:20) at $267/t CFR, shredded material at $272/t CFR and bonus at $277/t CFR from the US was bought by a Marmara-based mill. An Iskenderun-based producer booked a lot from the US including HMS 1&2 (80:20) priced at $268/t CFR. A company from the same region purchased 13,000 t of HMS 1&2 (95:05) at $273/t CFR from Sweden. A mixed batch from Russia with HMS 1&2 (80:20) priced at $266.5/t CFR and 5,000 t of bonus scrap priced at $276.5/t CFR was bought by an Iskenderun-based mill. The daily price level increased to $268/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Meanwhile, Australian iron ore fines 62% moved up by $0.8/t to $111.4/t CFR. Business activity on trading platform is mostly stable with 320,000 t of iron ore being booked on July 22. Bullish moods of market participants stimulate iron ore price. Prices at ports also gained $0.7-1.4/t. READ MORE... 22 July 2020 Scrap market took a breather Turkey. The daily price assessment remains at $265/t CFR Turkey for HMS 1&2 (80:20) form the US East Coast as there were no fresh deals in the market. However, the prices are stable and the sentiment is positive. Suppliers are waiting for higher prices for cargoes for August shipments, while buyers are trying to stand on lower purchase price level. Meanwhile, Australian iron ore fines 62% Fe moved up again by $1.85/t to $110.6/t CFR due to recently improved steel tags. 330,000 t of iron ore were bought on trading platforms on July 21. Vale, Brazilian mining giant, reduced its pellet production forecast for this year to 30-35 million t from 35-40 million t due to coronavirus pandemic impacts on steel segment. The company decided to cut the production as it saw the consequences of lockdown. READ MORE... 21 July 2020 Firm demand in the scrap market Turkey. Scrap market remains alive and well. An exporter from the Baltic region sold 29,000 t of HMS 1&2 (80:20) priced at $265/t CFR, 6,000 t of bonus scrap at $275/t CFR to a Marmara-based mill. The daily price assessment increased to $265/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Offers from the US, Baltic region are heard around $266-268/t CFR Turkey. Market players expect purchase prices for scrap to move up further amid firm demand. Russia. Russian steel scrap market gains ground due to high competition of consumers. Prices for A3 in the Ural Federal District altered several times during last week, reaching $211-219/t versus $198-206/t earlier. In the Southern Federal District the price for A3 delivered by railway widened to $204-212/t, A3 delivered by trucks moved up to $218-247/t CPT mill. Meanwhile, A3 bids remain stable in the Central Federal District. Australian iron ore fines 62% Fe waned to $108.75/t CFR, following the same decrease in the futures on the DCE. Rebar futures lost $3.6/t, while Tangshan billet went down by $4.3/t. Moreover, there was only 1 deal on a trading platform as most customers prefer to wait until stabilization of steel segment. READ MORE... 20 July 2020 Scrap price moves up as Turkish mills need to restock Turkey. Business activity is high in the Turkish scrap market. There are active negotiations and fresh bookings. An Izmir-based company bought a lot from Saint Petersburg with HMS 1&2 (80:20) priced at $261.5/t CFR. A mill from Karadeniz region purchased a mixed batch from Finland, including HMS 1&2 (80:20) at $260/t CFR, shredded material at $265/t CFR and bonus scrap at $270/t CFR. As there were fresh deals with suppliers from Baltic region, HMS 1&2 (80:20) from the US East Coast also increased to $262/t CFR Turkey. Price tags for local material in Turkey moved up amid import quotes uptrend. Many mills increased purchase prices for domestic scrap by $4-20/t. Pakistan. Pakistani import scrap market is back in business. 4,500 t of shredded material in containers priced at $285/t CFR from Benelux were bought at the end of last week. In the beginning of July European shredded scrap in containers was purchased at $278/t CFR. Pakistani market players are going to be active in the nearest future in order to fulfill their stocks before holidays in August. India. Ferrous scrap market remains silent in mid July. Offers for HMS 1&2 (80:20) from Europe are at $260-265/t CFR, while shredded scrap from the same region is at $275-280/t CFR. Demand for the material is really bad in Pakistan due to the absence of reasons to book scrap. The price assessment is at $240-245/t CFR and $265-270/t CFR for HMS 1&2 (80:20) and shredded scrap in Nhava Sheva respectively. Benelux. Many sellers in Europe are trying to reach higher prices in deals with Turkish companies. However, this is hard because buyers are not ready for such prices. HMS 1&2 (80:20) from Europe is offered at $255/t CFR. The daily price level for HMS 1&2 (80:20) and HMS 1&2 (75:25) remains at $232/t FOB and $237/t FOB respectively. Meanwhile, Australian iron ore fines 62% Fe lost $0.75/t, back to $110/t CFR, following an insignificant decrease in the futures on the DCE. As business was not as active in the seaborne market as few days ago and global supply was at high level, prices for iron ore started to go down. Some market participants believe that price will be stiff and stable till the end of the year. READ MORE... 17 July 2020 Iron ore subsides amid easing optimism Turkey. Turkish import scrap market is again active as there are many negotiations with suppliers from the USA, Baltic region. Sellers from the US are insisting on prices at least at $260/t CFR, willing to increase them to $265/t CFR next week. The daily price level for HMS 1&2 (80:20) from the US East Coast remains at $259/t CFR Turkey. South Korea. The first part of July was silent in the Korean scrap market. Buyers were looking for lower prices, while sellers were trying to achieve higher tags for the material. Japanese HMS 2 was still at $210.7-220.1/t FOB. Offers from the US for HMS 1 were heard at $260-265/t CFR South Korea, while Russian A3 was unchanged at $250-255/t CFR South Korea. Meanwhile, Australian iron ore fines 62% Fe decreased by $1.5/t to $110.75/t CFR, following the same slide in the futures on the DCE. Rebar futures lost $6.2/t, while Tangshan billet is stable. Trading on platforms also slowed down amid high prices. Mills reduced their purchases to 250,000 t on July 16. However, iron ore prices at ports are mostly unchanged supported by the growth of port inventories. READ MORE... 16 July 2020 Scrap prices went up amid new bookings Turkey. Prices for scrap material inched up due to fresh deals for August shipments. As Turkish buyers are active, booking HMS from the US, many market players suppose that prices are going to increase further. 15,000 t of HMS 1&2 (80:20) and 15,000 t of shredded material with the average price about $262.5/t CFR were bought from the US by an Iskenderun-based mill. A Marmara-based company purchased a mixed lot with HMS 1&2 (80:20) at $258.5/t CFR. So, taking into account fresh deals, the daily price level for HMS 1&2 (80:20) increased to $259/t CFR Turkey. Germany. The situation in the European scrap market is not as positive as in the Turkish. Prices are decreasing amid low business activity, weak demand, summer mills stoppages and limited collection of scrap. However, some steel mills booked E3 and E8 priced at EUR 180-195/t delivered. This purchase price level is lower than the average in the market (EUR 202-215/t). Still, market participants expect more or less stable price tags for ferrous scrap in August. Meanwhile, Australian iron ore fines 62% Fe moved up by $0.5/t to $112.25/t CFR despite futures on the DCE went down by $0.2/t. 390,000 t of iron ore were booked by Chinese buyers yesterday, on July 15. So, trading is active, steel tags are firm and the upward trend is prosperous in the steel segment. Nevertheless, insiders are very accurate with their prospects as there are heavy floods in the South of China. READ MORE... 15 July 2020 Fresh bookings in the scrap market Turkey. Four fresh deals were heard in the Turkish ferrous scrap market since July 13. Buyers from Marmara region and Iskenderun bought HMS 1&2 (80:20) from the US at $256/t CFR and $257/t CFR. Two more deals were reported on July 14. Steelmakers from Izmir and Iskenderun booked mixed lots with HMS 1&2 (80:20) priced at $255/t CFR. Suppliers are willing to increase purchase prices while Turkish mills are standing in need of scrap for August shipments. By the way, the daily price level stays at $256.5/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Vietnam. Steel production got better in the Vietnamese market after the lockdown. Vietnamese buyers bought 2.61 million t of scrap in the first half of 2020, including 449,142 t in June, which is +20% compared to May. Italy. Low demand and keen prices for scrap material affected Italian market in July. Purchase prices went down by EUR 10/t over the last month. Market players are not satisfied with the current price range, whish is too wide, as they suppose. E8 material is priced at EUR 220-235/t dependent on the mill. Australian iron ore fines 62% Fe again increased to $111.75/t CFR, following futures on the DCE which rose by $1.4/t over the day. Optimistic moods of market participants, positive sentiment and import data stipulate high business activity. On July 14, 450,000 t of iron ore were bought by Chinese customers on trading platforms. READ MORE... 14 July 2020 Iron ore price is up due to an earthquake in the Tangshan city Turkey. While some market players expect prices for imported scrap to increase by $5-10/t in the nearest future, others suppose that this period of silence in the Turkish market is going to last till August. Still, there are no fresh deals. Both buyers and sellers are trying to reach some agreement about the price tags. The daily price level remains at $256.5/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Russia. Prices for A3 in the Ural Federal District moved up to $198-206/t. A3 delivered by trucks is now at $212-243/t CPT mill (up by $3/t). The price range for the same material in the Central Federal District is steady amid stable situation in the market with the exception of NLMK, which is hardly keeping pace with its procurement target. Bids for A3 are priced at $203-209/t. Australian iron ore fines 62% Fe skyrocketed to $111.2/t CFR, following an increase by $5.5/t in the futures on the DCE. Rebar futures added $7/t, while Tangshan billet moved up by $2.9/t since July 10. An earthquake in Tangshan city on July 12, spurred prices to go up amid speculations on supply cut. Yesterday, on July 13, 620,000 t of iron ore were bought on trading platforms. READ MORE... 13 July 2020 Scrap suppliers are waiting in the wings Turkey. Last week ended with stable prices in the Turkish import scrap market. Market players are waiting for price increase in scrap quotes. A mixed lot from the USA was bought by an Izmir-based company for August shipment, consisting of shredded material priced at $258/t CFR and bonus scrap priced at $263/t CFR. Some suppliers are raising their purchase prices to $260/t CFR amid slight improvement in the finished product sales. The daily price level for HMS 1&2 (80:20) from the US East Coast is still at $256.5/t CFR Turkey. Vietnam. Prices are going up in the Vietnamese scrap market amid results of Japanese Kanto Tetsugen tender. Japanese H2 is offered at $250-260/t CFR, HS grades are priced at $280/t CFR. Offers for HMS 1&2 (80:20) from the US are at $270/t CFR Vietnam. Most suppliers were waiting for some fresh deals last week in order to understand the trend of the price. Russia. Prices are mostly stable in the Russian export market. Nominal A3 is priced at $255/t CFR Turkey, offers for A3 from Rostov-on-Don are at $250/t CFR. Market participants are expecting stronger demand this week. Benelux. The price assessment for HMS 1&2 (75:25) is at $228/t FOB Rotterdam, for HMS 1&2 (80:20) – at $233/t FOB. Both tags went down by $5/t over the week. However, last week 4,500 t of shredded material from Benelux were bought by a Pakistani buyer at $285/t CFR. Australian iron ore fines 62% Fe remained at $106/t CFR at the end of last week. Meanwhile, Tangshan billet lost $5.1/t, rebar futures went down by $1.4/t. READ MORE... 10 July 2020 Waiting for a new move in the scrap market Turkey. Market participants are waiting for many new contracts in the Turkish import scrap market soon due to active negotiations. Still, there are no fresh deals heard. The daily price assessment remains at $256.5/t CFR for HMS 1&2 (80:20) from the US East Coast. Japan. A monthly tender for HMS 2 priced at $219.8/t FAS was closed by Kanto Tetsugen Cooperative Association of ferrous scrap dealers. The price went down by $26/t to May numbers. India. Scrap market is in a lull in India due to weak local demand. There were no fresh deals heard, but some suppliers from Europe, the USA and Australia offer shredded scrap at $277-280/t CFR Chennai/Mundra port. Indian buyers are looking for cheaper prices, about $265-270/t CFR. So, many market players refuse to buy import material at this price level. The weekly price level for HMS 1&2 (80:20) in Hhava Sheva increased by $5/t to $240-245/t CFR. Australian iron ore fines 62% Fe went up by $0.25/t to $106/t CFR, following an insignificant moving up of futures on the DCE. At least 730,000 t of iron ore were bought on platforms on July 9. The improvement of business activity offsets the impact of rising supply. Rebar futures and Tangshan billet also increased by $3.4/t and $2.9/t respectively. READ MORE... 09 July 2020 Iron ore hits a ceiling of August 2019 Turkey. A lull in the Turkish ferrous scrap market continued during the second week of July. Prices are stable amid the absence of business activity. The daily price level remains at $256.5/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Australian iron ore fines 62% Fe increased by $3.25/t to $105.75/t CFR, following futures on the DCE which moved up by $3/t. This bid is the highest since August 2019. The uptrend in the price range is caused by both robust demand and positive moods in the steel segment. Tangshan billet gained $2.8/t, rebar futures went up by $9.7/t. Many market players refuse to make deals with such high price level, so they are waiting for the decline. As a result, business activity in seaborne market got a bit worse. Only 250,000 t of iron ore were bought on Wednesday 8. So, the nearest future of the market is unclear due to different versions and preferences of iron ore price idea. Russian iron ore exports decreased by 10% to 2.1 million t in June due to higher local activity. While export of iron ore concentrate dropped by 21% to 956.000 t, pellet’s exports were stable. On the contrary – better situation in the domesticfree market. Local iron ore shipments went up by 8% to 1.9 million t month-on-month. READ MORE... 08 July 2020 Iron ore increase in spite of production cuts Turkey. The daily price level remains at $256.5/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast due to stable prices. However, there were no fresh deals. Market players are waiting for some certain price ideas. Buyers are willing to see the price range around $250/t, but suppliers do not agree with such low level. Japan. The sixth decrease of the ferrous scrap price announced Tokyo Steel on July 7. The purchase price for HMS 2 went down by $4.6/t at two assets. HMS 2 is priced at $213.9/t at Okayama and at $218.5/t at Kyushu. Australian iron ore fines 62% Fe went up by $2.4/t to $102.5/t CFR yesterday, on July 7, amid the same increase in the futures contracts on the DCE. High business activity keeps the price in uptrend despite depressive expectations and production cuts in Brazil. 710,000 t of iron ore were bought on platforms on Tuesday. Market participants suppose that soon there will be a seasonal fall of demand, which means the price will decrease as well. READ MORE... 07 July 2020 Expectancy of scrap price to move up Turkey. The price trend is not clear due to the shortage of new deals in the Turkish import scrap market, but there are some active negotiations. Last week, a producer from Karadeniz region bought a mixed lot from the UK with HMS 1&2 (80:20) in the amount of 14,000 t priced at $253/t CFR and 1,000 t of shredded material at $258/t CFR. Market participants expect that soon there will be an uptrend in ferrous scrap segment, as many mills will need the material for August shipments. The price idea for HMS 1&2 (80:20) remains uncertain both for buyers and sellers due to different foresights, fluctuating between $250-260/t CFR. The daily price assessment decreased by $3.5/t to $256.5/t CFR for HMS 1&2 (80:20) from the US East Coast. Meanwhile, Australian iron ore fines 62% Fe moved to $100.1/t CFR following futures on the DCE. Chinese steelmakers are actively booking different grades of iron ore amid bearish sentiment. Yesterday, on July 6, 850,000 t of iron ore were bought on trading platforms. So, port trade remains active with stable iron ore tags. The biggest Russian iron ore producer, Metalloinvest, placed a premium on domestic recovery of the market and cut exports of iron ore concentrate and pellet shipments by 7% to 1.1 million t in June. READ MORE... 06 July 2020 A lull in the scrap market will be followed by a need to restock Turkey. A fresh deal was heard at the end of last week. A Marmara-based producer bought a mixed lot from Sweden with HMS 1&2 (80:20) at $255/t CFR, shredded material at $260/t CFR and bonus scrap at $265/t CFR. The forecast for purchase price cannot be clear as the market is not stable. So, the price level for HMS 1&2 (80:20) from the US East Coast remains at $260/t CFR Turkey. Japan. Business activity in the South Korean ferrous scrap market leaves a lot to be desired. Buyers are looking for better terms for material from Japan. However, there are no recent results. Offers for Japanese HMS 2 are heard at $232/t CFR. Tokyo Steel decreased its purchase price for HMS 2 for the fifth time in 2 weeks. New price level is at $200.1-223.3/t. Meanwhile, the quotes for Russian A3 and HMS 1 also went down by $10/t to $250-255/t CFR South Korea and $260-265/t CFR respectively. India. Indian scrap market is silent in early July due to sluggish demand. Offers for shredded material from Europe, the USA are at $275-285/t CFR. Price for HMS 1 from Europe is heard at $260-265/t CFR. HMS 1&2 (80:20) from Australia and Africa remains at $245-255/t CFR. Pakistan. The same situation is in the Pakistani import scrap market. Demand is low, prices are falling down. Shredded material in containers from Europe was bought at $278/t CFR, confirming downward trend in the industry. The market is depressed and is not fully recovered after lockdown. Nevertheless, there are some negotiations, which means that participants are willing to discuss the price level. Russia. Russian export market is windlessness in the beginning of July. Buyers are waiting for lower prices, while suppliers are waiting for more attractive terms due to the oncoming need to restock. Quotes for A3 from the Baltic region are at $255-260/t CFR Turkey. Nominal A3 from Rostov-on-Don is heard at $250-253/t CFR Turkey. Benelux. The prospect for the nearest future of the Benelux export scrap market is rather unclear. Last week a Belgium-based scrap collector sold 35,000 t of a mixed lot with of HMS 1&2 (80:20) at $249-250/t CFR to a producer from Turkey. The daily price assessment for HMS 1&2 (75:25) is at $233/t FOB Rotterdam, for HMS 1&2 (80:20) is at $238/t FOB. READ MORE... 03 July 2020 Apparently a new wave of uptrend in the scrap market Turkey. Finally, a fresh deal was heard in the Turkish import ferrous scrap market. A mixed lot with 17,000 t of HMS 1&2 (80:20) and 13,000 t of shredded material were bought by a Karadeniz-based mill at $260/t CFR and $265/t CFR respectively. This cargo will be shipped in August. As a result, the daily price level for HMS 1&2 (80:20) from the US East Coast increased by $4/t to $260/t CFR Turkey. Some market participants suppose that purchase prices are going to rise further, adumbrating new period of upward trend. Meanwhile, Australian iron ore fines 62% Fe moved to $98.25/t CFR amid recovery of trading activity. However, moods of main participants of the market remained unaltered – negative. READ MORE... 02 July 2020 Iron ore price subsides amid weak supply Turkey. Despite fresh deals, prices are going down in the Turkish import scrap market. A mixed lot from the USA, including 16,000 t of HMS 1&2 (80:20), 6,000 t of shredded scrap and 8,000 t of P&S, was bought by an Iskenderun-based mill, materials were priced at $256/t CFR, $261/t CFR and $266/t CFR respectively. What’s more, the same producer purchased a cargo, consisting of HMS 1&2 (75:25), shredded material and HMS 1 from Belgium. In this deal HMS 1&2 (75:25) was priced at $244/t CFR. The price level for HMS 1&2 (80:20) from the US East Coast decreased to $256/t CFR Turkey. Japan. Tokyo Steel continues to decrease scrap prices for HMS 2. The price range went down by $9.3/t at main assets and by $4.6/t at the rest of them. Australian iron ore fines 62% Fe went down by $1.95/t to $98.05/t CFR amid bearish moods, decline in demand and weak supply. READ MORE... 30 June 2020 Global decrease of scrap price Vietnam. Last week the situation in the Vietnamese ferrous scrap market was disappointing. Buying activity is weak due to poor demand, prices are going down. The main scrap suppliers from Japan reduced their prices for H2 to $265-267/t CFR. Offers for HS are heard at $280-290/t CFR, while offers for US HMS 1&2 (80:20) are at $270/t CFR. Some market participants suppose that purchase prices should be pushed down further. Russia. Russian export market is also silent. There were no fresh deals with Turkish buyers as all the participants prefer to wait for the price changes. Nevertheless, offers for Baltic scrap are at $255/t CFR Turkey. Nominal prices for A3 went down to $250/t CFR Turkey, the same material is priced at $255/t CFR South Korea. Benelux. On weekly basis, the price level for HMS 1&2 (75:25) and HMS 1&2 (80:20) from Rotterdam decreased by $12/t, being at $230/t FOB and $235/t FOB respectively. As Turkey stopped procurement process, prices are falling down and many suppliers prefer to keep from negotiations. Iron ore prices also went down amid rainy season in China and lower demand. Iron ore Index was at $99.70/t CFR North China on June 29. READ MORE... 29 June 2020 Scrap market in a lull Turkey. The latest deal in the Turkish import scrap market was the one with a supplier from Belgium reported last week. Marmara-based company purchased 20,000 t of HMS 1&2 (75:25), 10,000 t of shredded material and 10,000 t of bonus scrap at $246.25/t, $256.25/t CFR and $261.25/t CFR respectively. At the beginning of the week the market is silent. Buyers suppose that the price level is low now, being under $260/t CFR for HMS 1&2 (80:20). The daily price assessment is at $256.5/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Japan. Tokyo Steel, Japanese EAF steelmaker, for the second time in June decreased scrap purchase price for HMS 2 by $9.3/t to $233.4/t. READ MORE... 26 June 2020 Windfall fresh scrap purchases Turkey. Two fresh deals were heard in the Turkish import scrap market. A mixed lot from the US, consisting of HMS 1&2 (80:20), shredded material and bonus scrap were bought by an Iskenderun-based company priced at $261/t CFR, $266/t CFR and $271/t CFR respectively. Another deal with a Belgian collector was reported this week. A Marmara-based producer purchased HMS 1&2 (80:20) at $250/t CFR and bonus material. Nevertheless, tags for scrap are still low. The daily price level for HMS 1&2 (80:20) from the US East Coast remains at $255/t CFR Turkey. Quotes for the local material also went down amid negative sentiment, weak demand and decreasing rebar tags. Turkish domestic scrap decreased by $3-11/t. Market participants suppose that the price will further decline. India. Indian scrap import market is unchanged over the week. Business activity remains low due to weak demand, currency devaluation and all the difficulties after pandemic restrictions. Offers for Australian and African HMS 1&2 (80:20) were available at $245-255/t CFR Mundra, while the same material from India was offered at $260/t CFR. READ MORE... 25 June 2020 Slipping scrap price Turkey. There were no fresh deep-sea deals in the Turkish scrap market. Buyers refrain from purchasing because of both high price level and sufficient quantities of shipments for July. Nevertheless, there are some negotiations with producers from the Azov-Black Sea basin. One deal was reported from the Marmara region. A company bought 7,000 t of A3 priced at $245/t CFR Turkey from Romania. As the price range is going down, the daily price assessment for HMS 1&2 (80:20) from the US East Coast decreased to $255/t CFR Turkey. Japan. Prices in South Korea also went down amid weak fundamentals and global downtrend. An importer from Korea bought 10,000 t of HMS 2 at $248.5/t CFR. Meanwhile, Tokyo Steel, for the first time since May, decreased its purchase price for HMS 2 by $4.7/t. Offers for HMS 1 from the US are at $260-265/t CFR South Korea, while offers for Russian A3 are at $255/t CFR. Australian iron ore fines 62% Fe went up by $2.25/t to $101.5/t CFR on stronger futures and active booking of seaborne material. However, buyers were not active at ports, so prices were unstable. Some traders suppose that iron ore is going to weaken in July. READ MORE... 23 June 2020 Low demand both for scrap and iron ore Turkey. Ferrous scrap market is in a lull at the beginning of the fourth week of June. Activity is slow due to sufficient quantities of shipments for June and July. Buyers are waiting for lower prices, so practically there are no negotiations. However, many collectors didn’t change their prices. Material from the US and the Baltic region is still offered at $260-263/t CFR Turkey. The daily price assessment remains at $265/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Meanwhile, Turkish producers decided to decrease purchase prices for domestic scrap. The price level for local material went down by $3-11/t. Russia. Prices in Russian scrap market are moving up. A3 bids are at $184-201/t in the Central Federal District. Many mills in the Southern Federal District increased prices for scrap delivered by rail to $190-198/t. The price level in the Ural Federal District is mainly unchanged. Tags for A3 are still at $180-191/t. Some market participants are expecting further increase in the price. Benelux. As Turkish market is silent, and there are no fresh deals and no negotiations, the real price level for HMS 1&2 (80:20) is at $250-255/t CFR. Price for HMS 1&2 (75:25) also went down from $242/t FOB to $234/t FOB. HMS 1&2 (80:20) is at $239/t FOB. Australian iron ore fines 62% Fe moved down by $1.5/t to $101.5/t CFR due to low demand. The price level also decreased at ports by $0.7-2.8/t. READ MORE... 22 June 2020 Negative sentiment in the Turkish market Turkey. Sentiment turned to negative in the Turkish ferrous scrap market in the end of the third week of June. Demand is low, market participants’ moods are pessimistic, and no fresh deals were reported since Friday 19. Last week the price range for HMS 1&2 (80:20) moved from $267/t CFR to $265/t CFR Turkey. The price level for the same material from the US East Coast remains at $265/t CFR Turkey. Russia. South Korean producer booked A3 from Russia at higher price after tags for American scrap were raised. Russian A3 was bought at $269/t CFR South Korea for August shipment. The nominal price for A3 is at $270-275/t CFR South Korea. Vietnam. Several deals were signed last week in the Vietnamese scrap market. H2 from Japan was purchased at $278-280/t CFR right before offers for this material increased to $280-290/t CFR. However, purchase price for H2 seemed to decrease again to $280-285/t CFR. Pakistan. The fact that Turkish market slowed down affected Pakistani import market. The price level went down by the end of the week. A steelmaker from Pakistan bought 5,000 t of containerized shredded scrap from the UK at $283/t CFR last week. The previous deal for the same material was priced at $290-292/t CFR. READ MORE... 19 June 2020 Scrap market is slowing down Turkey. Many Turkish mills have enough shipments for June and July already, so the market is slowing down. This way, the price started to decrease. A new deal with lower price has already been heard. A mixed lot from the US, including HMS 1&2 (80:20) priced at $265/t CFR, shredded material at $270/t and bonus grade at $275/t CFR, bought an Izmir-based company. This cargo will be shipped in early August. The daily price level decreased to $265/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. South Korea. Korean ferrous scrap market experienced the downward tendency in the first half of 2020 due to coronavirus outbreak. Imports went down by 33% to 2.06 million t year-on-year. Australian iron ore fines 62% Fe decreased by $0.5/t to $102.75/t CFR on Thursday 19. Supply is getting worse despite all the expectations. However, market participants are optimistic due to active support that China’s central government is giving by releasing $211.6 billion to maintain local enterprises. READ MORE... 18 June 2020 Scrap price is slightly increasing Turkey. One fresh deal in the import scrap market was reported yesterday. An Iskenderun-based company purchased 17,000 t of HMS 1&2 (80:20) and 15,000 t of shredded material from the US at $267/t CFR and $272/t CFR respectively. Negotiations are active in the Turkish market, while many mills are looking for the material for July shipment. Market participants are waiting for the further slight increase of the price. Meanwhile, the daily price assessment for HMS 1&2 (80:20) from the US East Coast went up to $269/t CFR Turkey. Turkish domestic scrap market is trying to keep up with import price level. Some mills increased by $4/t their purchase price for the local material. South Korea. Korean ferrous scrap market is silent in the third week of June. Nevertheless, one company bought 32,000 t of HMS 1 from the US priced at $282/t CFR for August shipment. Australian iron ore fines 62% Fe lost $1.75/t on Wednesday and is at $103.25/t CFR now. The price range is falling down due to sellers’ reduced prices. Iron ore is keeping its high level despite lower supply and not optimistic situation in the market. READ MORE... 17 June 2020 Iron ore price is mainly stable Turkey. There are no fresh deals this week in the Turkish import scrap market, but some negotiations are in progress. One new deal from 11th of June was reported yesterday. A mixed lot from the UK was bought by a Marmara-based mill. In that deal 15,000 t of HMS 1&2 (80:20) was priced at $265/t CFR, 5,000 t of shredded scrap at $270/t CFR, 15,000 t of bonus material at $275/t CFR. On June 16 the price level for HMS 1&2 (80:20) from the US East Coast remains at $267/t CFR. Australian iron ore fines 62% gained $2/t back, reaching $105/t CFR on Tuesday supported by increase of the futures by $2.6/t on the DCE. Export shipments from Australia and Brazil decreased during the first part of June by 14% and 10% respectively. However, Chinese customers are active on platforms, booking 250,000 t over the day. READ MORE... 16 June 2020 Price level for the US scrap is unchanged Turkey. Demand for import scrap is firm in Turkey at the beginning of the week. Turkish mills are looking for new deals, while purchase prices are still rising. A cargo from the UK was bought by a Marmara-based producer, where HMS 1&2 (80:20) was priced at $265/t CFR. The daily price assessment is unchanged at $267/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast due to the absence of new purchases. Russia. Moods among market participants in the Russian ferrous scrap market are unclear. In the Central Federal District the price for A3 is unchanged at $185-192/t. In the Ural Federal District the situation is a bit worse with the price level for A3 decreasing to $181-192/t. Meanwhile, in the Southern Federal District the price range for A3 widened to $178-188/t. Australian iron ore fines 62% Fe moved down by $2/t to $103/t CFR on Chinese weak steel market. Rebar futures lost $7.6/t, while Tangshan billet dropped by $2.8/t. ArcelorMittal Nippon Steel India is going to invest $263 million in iron ore mining and pellet production in Odisha-based assets. The main purpose is to improve raw material independence and also to broaden the share in export markets. READ MORE... 15 June 2020 Uptrend in the scrap market Turkey. Import scrap market was active at the end of last week. HMS 1&2 (80:20) from the US was bought at $266/t CFR Turkey. An Iskenderun-based mill purchased a cargo from St. Petersburg with HMS 1&2 (80:20) priced at $267/t CFR Turkey. A producer from the same region bought HMS 1&2 (80:20) from the UK at $262/t CFR. An Izmir-based producer bought a lot from Lithuania. In this deal HMS 1&2 (80:20) was at $265/t CFR. A mill from the Marmara region purchased HMS 1&2 (75:25) from the UK at $255/t CFR. The daily price level for HMS 1&2 (80:20) from the US East Coast moved to $267/t CFR Turkey. South Korea. Global upward trend affects Korean ferrous scrap market. Purchase prices for import scrap are rising; meanwhile mills are more interested in local volumes. A3 material from Russia were sold at $258/t CFR. Offers for HMS 2 from Japan are heard at $270/t CFR South Korea. India. Shredded material in containers from Europe was bought at $292/t CFR at the end of last week. 200 t of HMS 1&2 (80:20) from the US were traded at $255/t CFR Mundra port. The same material from Africa was priced at $245/t CFR. Local buyers are not optimistic about global price increasing. This way, activity in the market is low. Offers for shredded scrap in containers from the US and the UK are at $290-292/t CFR. Offers for HMS 1&2 (80:20) from Australia are heard at $265/t CFR Mundra port. Shredded scrap in containers from the same region was at $285/t CFR Mundra port. HMS 1&2 (80:20) from South Africa was heard at $255-265/t CFR Mundra port. READ MORE... 11 June 2020 Purchase prices for ferrous scrap are keep rising Turkey. The daily price assessment remains at $265/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast despite fresh deal from Europe. A mixed batch from Belgium including 20,000 t of HMS 1&2 (75:25), 2,500 t of shredded scrap and 12,500 t of bonus material and HMS 1 was bought by a Marmara-based mill at the average price of $262/t CFR Turkey. The price level for Turkish local scrap is going up on import scrap quotes uptrend. Many mills raised purchase price by $6-9/t for domestic ferrous scrap. Market participants are waiting for the further price increase. Asia. Kanto Tetsugen Cooperative Association, Japanese ferrous scrap dealers, increased price for HMS 2 by $36.1/t to $245.2/t FAS. The price range for ferrous scrap is going up due to both global upward trend and strong quotes in Japan. By the way, Tokyo Steel also increased purchase price for ferrous scrap by $9.3/t to $209.3-237.2/t. Meanwhile, Australian iron ore fines 62% Fe softened to $103/t CFR on Wednesday amid Vale’s mines suspension. Trading is getting slower in the seaborne market and at ports, but prices are stable. 180,000 t were sold on platforms yesterday. Buyers and sellers are not optimistic about the nearest future of the market because of upcoming monsoon season. READ MORE... 10 June 2020 Downtrend in the Russian scrap market Turkey. A fresh contract from the Baltic region moved purchase prices up. 21,000 t of HMS 1&2 (80:20) priced at $265/t CFR, 8,000 t of bonus scrap priced at $275/t CFR from St. Petersburg were bought by an Iskenderun-based mill. The daily price level increased to $265/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Demand for the local Turkish material is firm with high quotes for ferrous scrap. Some steelmakers are moving their prices up by $4-8/t, following import scrap tags uptrend. Russia. Russian ferrous scrap market is under the sway of downtrend in early June. A3 price decreased to $184-193/t in the Ural Federal District. In this region supply is better than demand. In the Southern Federal District A3 delivered by railway is at $178-185/t. A3 delivered by trucks is priced at $203-227/t CPT mill. The price for A3 in the Central Federal District remains at $185-193/t. Australian iron ore fines 62% Fe was priced at $103.9/t CFR on June 9. READ MORE... 09 June 2020 Shocking iron ore price Turkey. The daily price range for HMS 1&2 (80:20) moved to $260.50/t CFR on Monday, 8 due to firm demand in the market. 15,000 t of HMS 1&2 (80:20) at $259.5/t CFR, 10,000 t of bonus scrap at $269.5/t CFR and 5,000 t of shredded material at $264.5/t CFR were booked from Europe by an Iskenderun-based mill. A fresh deal was heard in the Marmara region. A mill booked material from the Baltic region, where HMS 1&2 (80:20) was priced at $260/t CFR, shredded scrap at $265/t CFR and bonus material at $270/t CFR. The total amount of the material in this deal – is 28,000 mt. The same Marmara-based mill bought 25,000 t of HMS 1&2 (95:05) at $263/t CFR. Iron ore 62% Fe Index increased by $5.6/t to $106.5/t CFR on renewed supply concerns. Brazil is keep fighting with coronavirus outbreak. READ MORE... 08 June 2020 Bullish moods in the scrap market Turkey. Ferrous scrap market is active in Turkey at the beginning of June. Offers in the import market were high on June 5. An Izmir-based mill bought HMS 1&2 (80:20) from the US at $260/t CFR. HMS 1&2 (80:20) from the Baltic region is offered at $260-263/t CFR. The same material from Romania is at $253-255/t CFR. Most market participants are optimistic, expecting further price increase. The daily price level went up to $260/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. The price range for local material added $6-27/t at the end of last week. Purchase price for domestic scrap is increasing on firm demand and improving import scrap tags. Russia. Prices for steel scrap are rising due to stronger Turkish market. Nominal A3 price went up to $257-258/t CFR from St. Petersburg. The price level in offers from Far East is increasing, but the activity in the South Korean market is low. This way, nominal prices are unchanged over the week for Russian scrap. Benelux. The upward trend captured Benelux market. The price level in offers from Belgium added $3-5/t CFR and moved to $255-257/t CFR Turkey. The price level for HMS 1&2 (75:25) and HMS 1&2 (80:20) from Rotterdam is at $234/t FOB and $239/t FOB respectively. Meanwhile, Australian iron ore fines 62% Fe was at $100/t CFR at the end of the first week of June. READ MORE... 05 June 2020 Optimistic forecast for the scrap market Turkey. The price assessment for HMS 1&2 (80:20) from the US East Coast is rising to $258/t CFR Turkey amid new bookings in the import scrap market. A Marmara-based producer bought 14,000 t of HMS 1&2 (80:20) at $255/t CFR and 5,000 t of P&S, 3,000 t of busheling, 3,000 t of new cuttings at the average price of $261/t CFR. A buyer from the same region purchased A3 from Russia at $253/t CFR. Meanwhile, 30,000 t of shredded material from Canada priced at $263/t CFR were bought by an Iskenderun-based producer. Market participants are optimistic due to strong demand in the import segment and are waiting for further price increase. India. Prices are also increasing in the Indian import scrap market. Offers for HMS 1&2 (80:20) from Australia moved to $260-265/t CFR, shredded material in containers from the UK was heard at $290-295/t CFR. By the way, an Indian-based producer bought 20,000 t of shredded scrap and 10,000 t of HMS 1&2 (80:20) from the US at the average price of $280/t CFR Kandla Port. Local buyers are waiting for lower quotes because of the weak demand. However, global uptrend influences the price level. Australian iron ore fines 62% Fe lost $2.5/t over the day amid futures decrease. This drop affected participants’ mood about the future of the market. Rebar futures moved down by $3.9/t, while Tangshan billet remained unchanged. Vale, Brazil’s mining giant, is going to spend $2 billion on an environmental plan in order to reduce greenhouse gas emissions by 33% over the next 10 years. READ MORE... 04 June 2020 Strong demand in the iron ore market Turkey. In the Turkish scrap market negotiations are active, but there are no fresh deals heard. Some offers from the US and Baltic region are reaching $255-258/t CFR for HMS 1&2 (80:20). Meanwhile, the same material from Europe is at $253-254/t CFR. The daily price level remains at $254.5/t CFR for HMS 1&2 (80:20) from the US East Coast. Pakistan. After a period of silence due to the Ramadan and lockdown, Pakistani scrap market is recovering with new bookings and higher prices. 32,000 t of shredded scrap from the US was booked at $282.5/t CFR Port Qasim by a Pakistani-based producer. Shredded scrap in containers and P&S from Britain were bought at $285/t CFR Port Qasim and $280/t CFR respectively. Prices are growing amid strong demand in the Pakistani import scrap market. Japan. Tokyo Steel, Japanese EAF steelmaker, increased ferrous scrap prices again. This time purchase price went up by $9.2/t to $197.8-202.4/t for HMS 2. This is the fifth time since late May. Australian iron ore fines 62% Fe increased by $0.4/t over the day. Market participants are still worried about supply from Brazil, meanwhile, demand in China is sustainably firm. These factors affect iron ore price, which is at $101/t CFR on June 3. READ MORE... 03 June 2020 Scrap price slightly increased amid new bookings Turkey. The daily price assessment for HMS 1&2 (80:20) from the US East Coast moved to $254.5/t CFR Turkey over the day due to new scrap purchases in the import market. Four bookings were heard in one day with slightly increased price level. Izmir-based and Iskenderun-based mills bought mixed lots from the US, where HMS 1&2 (80:20) was estimated at $254-254.5/t CFR Turkey. Another mixed lot was bought by a Karadeniz-based mill from Canada at an average price of $261.5/t CFR. Izmir-based producer bought HMS 1&2 (80:20) from Estonia at $254/t CFR. Market participants are expecting higher prices in the nearest future. Prices for local material also went up. Purchase prices for domestic scrap added $6-19/t. The upward trend in the import market is spurring local prices. Australian iron ore fines 62% Fe gained only $0.1/t, being at $100.6/t CFR on June 2. 590,000 t of iron ore from Australia were booked on the trading platform by Chinese purchasers. Most participants of the market are optimistic due to strong seaborne buying. National Mineral Development Corporation, India’s mineral producer, raised iron ore sales by 85% in May to 2.55 million t, as the government eased quarantine measures and buyers started to resume production. READ MORE... 02 June 2020 Scrap price greets summer with stability Turkey. June started without fresh deals in the Turkish scrap market. The latest contracts were signed on May 29. A Belgium-based exporter sold to 22,000 t of HMS 1&2 (75:25) at $247/t CFR, 8,000 t of shredded material at $257.5/t CFR, 10,000 t of P&S and HMS 1 at $262.5/t CFR Turkey. A supplier from the US sold to a Marmara-based mill HMS 1&2 (80:20) at $253/t CFR. Another mill from the same region bought shredded scrap from the US at $258/t CFR. The daily price assessment remains at $253/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. India. Prices for imported ferrous scrap are rising in offers, while demand for import material is weak amid employee shortage and the approaching season of rains. However, no deals were heard. HMS 1&2 (80:20) from South Africa is offered at $260/t CFR. The same material from Australia is at $250-255/t CFR. Russia. The downward trend continues in the Central Federal District where A3 price moved to $180-187/t versus $182-191/t a week earlier. Nevertheless, A3 price in the Ural Federal District increased to $183-198/t, while pipe producers started to make scrap bookings in the free market again. The price level for A3 delivered by railway remains at $180-187/t in the Southern Federal District. The regional price range for A3 went up to $197-221/t CPT mill. Australian iron ore fines 62% Fe decreased by $0.5/t to $100.5/t CFR over the weekend. This price is supported by fears over shipments from Brazil where the number of infection cases among workers is constantly rising. High contagiosity of coronavirus may affect the level of productivity at mines if local authorities decide to tighten quarantine measures. READ MORE... 01 June 2020 Iron ore beats the highest price since August 2019 Turkey. Three new bookings were heard at the end of the week. The supplier from the Baltic region sold HMS 1&2 (80:20) at $253/t CFR and bonus scrap at $263/t CFR to an Izmir-based mill. A steelmaker from an Iskenderun purchased from a Canadian supplier 25,000 t of HMS 1&2 (90:10), 10,000 t of shredded material and 15,000 t of P&S at an average price of $261/t CFR. Another company from the same region bought 42,000 t of mixed lot from the UK. In this deal HMS 1&2 (80:20) was estimated at $252.2/t CFR, shredded material at $257.5/t CFR and bonus scrap at $262.5/t CFR. The price level for HMS 1&2 (80:20) from the US East Coast remains at $253/t CFR Turkey. Japan. The level of scrap exports skyrocketed over the first 4 months of 2020 in Japan. Ferrous scrap exports increased by 38.8% to 3.31 million t year-on-year. The main importers from Japan are Taiwan, Vietnam and South Korea. Russia. Most Turkish consumers have booked enough volumes of steel scrap for June shipments, meanwhile suppliers are not going to back down. Weak demand in Turkey did not stop Russian scrap exporters which closed a deal at the end of last week. 20,000 t of A3 at $249/t CFR were sold for July shipment. By the way, there were no deals from Rostov-on-Don. Nominal A3 prices are at $245/t CFR Turkey. Suppliers are waiting for the price increase. The price level for A3 from St. Petersburg is at $250-253/t CFR. Europe. Due to the weak business activity, there were no fresh deals between Benelux and Turkey in late May. The daily price assessment is at $222/t FOB and at $227/t FOB for HMS 1&2 (75:25) and HMS 1&2 (80:20) from Rotterdam respectively. As the scrap availability in the European market is tight, many scrap collectors increase their purchase prices. For the first time since last summer Australian iron ore fines 62% Fe jumped to $101/t CFR after the futures on the DCE gained $5.8/t over the day. This uptrend is caused by increased demand, supply fears and costlier steel. 510,000 t of Australian and Brazilian material were traded on platforms on Friday. The price level at ports went up by $0.7-2.1/t. Rebar futures added $11.4/t, while Tangshan billet - $4.2/t. READ MORE... 29 May 2020 New deals closed in Turkish import scrap market Turkey. A period of silence ended on Thursday with new deals. Some Turkish companies purchased scrap from Europe, the USA and the Baltic region. 30,000 t of mixed lot including HMS 1&2 (80:20), shredded material and bonus scrap at $253/t CFR, $258/t CFR and $263/t CFR respectively, were bought from the USA by an Izmir-based producer. 25,000 t of HMS 1&2 (90:10) and shredded scrap from the US at an average price of $256/t CFR were purchased by an Iskenderun-based company. A mill from the same region bought from a Latvian exporter HMS 1&2 (80:20) at $253/t CFR, shredded material at $258/t CFR and bonus material at $263/t CFR. An Izmir-based producer made a booking of HMS 1&2 (80:20) from Lithuania at $252/t CFR and the same material from Germany at $246/t CFR. The price level for HMS 1&2 (80:20) from the US East Coast increased by $1/t to $253/t CFR Turkey. Australian iron ore fines 62% Fe increased to $96.75/t CFR on Thursday due to the drop of stock cargo below 110 million t. Tangshan billet gained $1.4/t, while rebar futures remained unchanged. Severstal is going to lower pellets export by 20% to 721,000 t in May due to a kiln repairs. By the way, Swedish miner LKAB is going to restart operations at the Kiruna mine. This mine was hit by the earthquake. READ MORE... 28 May 2020 Scrap remains unchanged Turkey. The situation in the Turkish import scrap market is stable with no fresh deals heard on May 27. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is unchanged at $252/t CFR Turkey. Vietnam. Buyers have closed several contracts for import scrap at high prices last week. This week they prefer to wait for some stabilization of price range. Low collection with limited supply affects prices which are rising since mid-May. Offers for H2 from Japan are going up by $10/t to $260-265/t CFR. HMS 1&2 (80:20) from the USA is also growing by $5-7/t to $265-267/t CFR Vietnam this week. Market participants suppose that price for scrap is going to increase in the nearest future amid tight supply. Australian iron ore fines 62% Fe went up by $1.25/t to $95.25/t CFR amid stronger buying. Yesterday 600,000 t of mid- and high- grade material were sold on trading platform. READ MORE... 27 May 2020 Iron ore plunged due to several issues Turkey. Import scrap market is quiet in Turkey at the beginning of the week due to several days off. The latest deals were heard last week. 20,000 t of HMS 1&2 (80:20) from the UK priced at $247/t CFR were purchased by an Iskenderun-based mill. At the end of the week Karadeniz-based mill bought the same material both from the Adriatic Sea at $244/t CFR (in the amount of 10,000 t) and from Romania at $245/t CFR (in the amount of 20,000 t) and 8,000 t of HMS 1&2 (90:10) from Russia at $251/t CFR. The price level remains at $252/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Italy. Italian steel mills are asking for lower domestic scrap prices but sellers are not ready to decrease prices by EUR 5/t. E3 is quoted at EUR 220-225/t delivered, E8 – at EUR 230/t delivered and E40 – at EUR 240/t delivered. Market participants are waiting for June negotiations to define price trend for the next month. Japan. Once again in this month EAF steelmaker Tokyo Steel increased scrap purchase price by $4.6/t to $166.9-185.4/t. Australian iron ore fines 62% Fe went down by $2/t to $94/t CFR after futures on the DCE lost $3.2/t. The plunge was spurred by slow buying activity amid increasing supply. This week there was only one deal closed on trading platforms. High price level affected seaborne and port trade. Mining sector in Africa is going to work at 100% capacity from June. South Africa slowed down the rate of coronavirus spreading and allowed many businesses to restart their activities from the next month. Miners suppose that the return to the work will be at least three-folded in order to be ready for any development of the situation. Prices for iron ore concentrate and pellets in long-term contracts will increase in June in Russia due to the strengthened rouble. Concentrate will be sold at $56-76/t, and pellets at $73-82/t in June. Suppliers are also going to increase prices in the spot market by $1-1.5/t. READ MORE... 26 May 2020 Stable iron ore and scrap prices Turkey. The last week of the spring began without fresh scrap deals in the Turkish import market. Negotiations slowed down as many companies fulfilled their plan of shipments in June. Per interim, offers continue to be limited and many sellers are going to raise prices. As for now, prices are stable, the daily assessment remains at $252/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Russia. The downward trend in scrap prices continues in late May in Russia due to plunging steel prices. In the Central Federal District prices for A3 went down to $182-191/t. Scrap bids are lowered by consumers in the Ural Federal District. A3 price moved to $181-192/t depending on the region. In the Southern Federal District A3 delivered by railway decreased to $178-185/t versus $187-192/t previously. A3 delivered by trucks remains at $196-212/t CPT mill. Australian iron ore fines 62% Fe remained at $96/t CFR. There were no deals on trading platforms on Monday. News from the China’s congress did a number on market which lost its optimism also due to expected supply increase. READ MORE... 25 May 2020 High activity in the scrap market Turkey. Last week there were active purchases in the import scrap market. Turkish mills bought ferrous scrap from the Baltic region, also from Russia and Europe. The price level was raised in these deals. HMS 1&2 (80:20) from the Baltic region was priced in three new contracts at $250-252/t CFR Turkey. The same material from Russia was bought by an Iskenderun-based mill at $247/t CFR. Meanwhile, a Marmara-based producer purchased HMS 1&2 (95:5) at $260/t CFR Turkey. HMS 1&2 (80:20) from Europe is priced at $247/t CFR Turkey. The daily price level went up to $252/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. India. There were no fresh deals heard recently in the Indian scrap market. Some offers for HMS 1&2 (80:20) from Africa were at $240-245/t CFR. The same material from Australia is at $240-250/t CFR, while shredded scrap is at $265-270/t CFR in India. Market participants are waiting for the resumption of negotiations. Russia. Price level for exports to Turkey increased last week in Russia. A number of deals were closed with some growth in prices. Turkish mills bought two cargoes from St. Petersburg last week, where A3 material was pried at $247/t CFR and $250/t CFR. The price range for A3 from Rostov-on-Don is at $245/t CFR Turkey. However, there were no fresh deals in this region. Benelux. The price assessment increased by $2/t and $5/t to $222/t FOB and $227/t FOB for HMS 1&2 (75:25) and HMS 1&2 (80:20) from Rotterdam respectively. Prices were pushed by new deals between Benelux and Turkey. Lately, there were no deals heard to other destinations. Last week Belgium-based collector sold a mixed batch of scrap in the amount of 32,000 t to a Turkish producer, in which HMS 1&2 (80:20) was at $238/t CFR. Another exporter from the same region sold 35,000 t of mixed cargo with HMS 1&2 (80:20) priced at $245/t CFR this week. By the way, firm supply demand and slow seaborne trade resulted in iron ore price, which lost $1/t. Australian iron ore fines 62% Fe went down to $96/t CFR. Iron ore market was affected by the decisions made during the first day of China’s congress. The government has not set GDP target for this year due to the global epidemic situation and all uncertainties with economy and trade. READ MORE... 22 May 2020 Scrap price increased on new bookings Turkey. Turkish import scrap market got off the ground. Some fresh deals were closed on Thursday 21. 30,000 t of mixed lot from the US including HMS 1&2 (80:20) priced at $251-252/t CFR were purchased by an Iskenderun-based mill. 35,000 t of mixed batch from Belgium with HMS 1&2 (75:25) priced at $240/t CFR and HMS 1&2 (80:20) priced at $245/t CFR were bought by a Marmara-based importer. An Izmir-based steelmaker purchased around 20,000-25,000 t of HMS 1&2 (80:20) at $250/t CFR and bonus scrap at $260/t CFR from St. Petersburg. As the quotes for scrap increased, the price level moved to $251/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Japan. After a long period of downtrend in the scrap price, Japanese steelmaker Tokyo Steel raised bids for domestic scrap. The company raised purchase price for HMS 2 by $9.30/t to $162.5-181/t. Australian iron ore fines 62% Fe got back $1/t on Thursday, reaching $97/t CFR. Suppliers wanted to lift prices again but weak trade in ports took the wind out of their sails. Buying activity is not the same as previous days, it is much slower. However, the prices are stable mostly on market optimism and expectations. READ MORE... 21 May 2020 No fresh deals in the scrap market Turkey. Prices in the import scrap market are stable because there were no fresh deals. The price assessment remains at $247/ CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Anyway, some Turkish companies have to buy more scrap for June shipments but buyers prefer to wait for the clear price direction. Japan. Prices for Japanese H2 scrap are stable, unchanged from May 13 at $214/t FOB. The level of exports increased in the first quarter of the year despite quarantine measures. Scrap exports went up by 36% to 2.41 million t. The main destinations were South Korea, Vietnam, Taiwan and Bangladesh. Australian iron ore fines 62% Fe went down by $1.5/t to $96/t CFR over one day. The futures on the DCE also lost $0.9/t. Buyers are tired of chasing the price, so the market is not as active as it was last week. China is going to simplify inspections on imported iron ore from June 1. Previously, importers had to have special certificates beforehand and from June they will have the opportunity to do the necessary documents which include China inspection and quarantine certificate at place. READ MORE... 20 May 2020 Iron ore goes through the roof Turkey. No fresh deals were heard due to a national holiday in Turkey. Many companies are taking a pause and leaving market for several days off. Some sellers from the US are making offers but high price does not satisfy Turkish buyers. The price level for HMS 1&2 (80:20) from the US East Coast remains at $247/t CFR Turkey. Yesterday Australian iron ore fines 62% Fe increased to $97.5/t CFR. The price is going up on tight supply and improving steel margins. Tangshan billet and rebar futures also gained $4.8/t and $1.4/t respectively. The uptrend should not last for a long time due to high production but market participants still do not know what may lie ahead. The rainy season is coming up and it can also influence steel demand. What’s more, some steelmakers are worried about supply from Australia because of the tension between China and the former. Vale, Brazilian multinational corporation, restarted operations in Teluk Rubiah Maritime Terminal in Malaysia after almost 2 months of cold storage. In fact, Brazilian mining sector is going to recover from the pandemic quicker than others sectors. Strong demand for iron ore shown by China encourages everyone to have optimistic forecast. READ MORE... 19 May 2020 Iron ore reaching higher heights Turkey. The price assessment is unchanged at $247/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast due to the absence of fresh deals. Tight supply resulted in the unwillingness of exporters to make any discounts. A number of producers are waiting for finished steel sales this week. Russia. Price trend for ferrous scrap in Russia is going down in the middle of May because of the weakening of the market. The price range for A3 in the Central Federal District decreased to $184-193/t (versus $197-200/t earlier). In the Ural Federal District the price moved to $189-206/t. A3 delivered by rail in the Southern Federal District is at $187-192/t. The price range for A3 is at $196-212/t CPT mill. Iron ore continues to skyrocket on surging steel market. Australian iron ore fines 62% Fe gained $2.5/t over the weekend and are at $95.5/t CFR. The futures on the DCE got $3.3/t, Tangshan billet added $11.3/t, while rebar futures increased by $9/t. Despite lower consumption of iron ore, tags for the raw material are going up. The forecast is unclear but market participants do not expect the price to drop much. The process of building Ferrexpo’s new concentrate warehouse is in its midstream. This project will allow the company to increase pellets output from 10.5 million t to 12 million t. The works on the new iron ore concentrate warehouse should be done in 2021. READ MORE... 18 May 2020 Abrupt drop in the scrap market Turkey. There was a significant drop in scrap price at the end of last week. 20,000 t of HMS 1&2 (80:20), 6,000 t of shredded material and 6,000 t of bonus scrap from Belgium-based collector were bought by a Marmara-based mill at $238/t CFR, $243/t CFR and $248/t CFR Turkey respectively. Market participants are taken aback with decrease but some of them believe that the situation will soon improve. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $247/t CFR Turkey. Vietnam. All in all, Vietnamese import scrap market remains calm. In spite of infirm demand, prices in offers are slowly going up. H2 from Japan is heard at $245-260/t CFR, shredded material from the same region is at $275-285/t CFR Vietnam. HMS 1&2 (80:20) from the US is at $255-260/t CFR Vietnam. New deal with Hong Kong was closed at $233-235/t CFR Vietnam for HMS 1&2 (50:50). Buyers and sellers are expecting early recover of Vietnamese import market. By the way, purchases decreased by 20% in Vietnam in April. Imports in the last month were only 405,055 t but in the first quarter of the year customers imported 1.09 million t of ferrous scrap and that is up 20% year-on-year. The downtrend in imports of scrap in April happened due to slower steel production amid coronavirus pandemic. Benelux. Demand for finished steel is very weak in Europe due to quarantine measures. 32,000 t of mixed cargo from Belgium were purchased by a Turkish producer late last week. In that deal HMS 1&2 (80:20) was at $238/t CFR. This sudden decrease was against the grain for many suppliers. The price assessment for HMS 1&2 (80:20) from Rotterdam is at $221.5/t FOB, for HMS 1&2 (75:25) is at $216.5/t FOB. Russia. Russian export scrap market was at work last week. Turkish mills, which were suffering from the lack of material, agreed with uptrend in scrap price. A3 was at $248/t CFR in the beginning of the week and then - at $245/t CFR in other 2 contracts with Karadeniz-based mills. The nominal price for A3 was at $235/t CFR Turkey. A3 was also bought by a South Korean importer in the amount of 7,000 t at $250/t CFR last week. Meanwhile, stable demand and tight supply influenced iron ore price. Australian iron ore fines 62% Fe went up by $2.75/t to $93/t CFR. In Russia the Chinese iron ore index 62% Fe went down to $85/t. Russian prices for iron ore are stable, being at $54-73/t for concentrate and at $70-78/t for pellets. READ MORE... 15 May 2020 Stable iron ore price amid tight supply Australian iron ore fines 62% Fe gained $0.25/t on Tuesday and is still at $90.25/t CFR. Supply is tight, while demand of mills is high. Steelmakers in China are going to increase output. Demand for raw material stimulated buying spree in the seaborne market. 805,000 t were sold on trading platforms on May 14. Nevertheless, some market participants suggest iron ore getting weak as supply is going to recover in the end of the month. The production of iron ore concentrate lost 5% year-on-year in Iran. Miners produced less concentrate due to slow demand both local and global. Coronavirus pandemic affected steel segment much. Unfortunately, any forecasts about the situation in the market are quite pessimistic now. READ MORE... 15 May 2020 Scrap market is recovering after quarantine period Turkey. The price assessment remains at $250/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast due to the absence of fresh deals with the USA. What’s more, a deal for scrap from the Baltic region was closed at a lower price. 8,000 t of HMS 1&2 (80:20), 13,000 t of shredded material and 4,500 t of bonus scrap were bought by a Karadeniz-based mill at $250/t CFR, $255/t CFR and $260/t CFR respectively. HMS 1&2 (80:20) from Russia was also bought by three mills from the same region at $245-248/t CFR. Steelmakers booked another 10,000 t of the same material from Romania at $240-242/t CFR Turkey. Price trend for domestic scrap is mixed in Turkey. Some producers decided to increase prices due to stronger requirement of local scrap. Erdemir and Isdemir raised their prices by $26-37/t. Other producers decreased prices because of the complex situation with sentiments in the Turkish market. Several mills lowered prices by $2-19/t for domestic material. Germany. The situation in the market is rather ambiguous in Germany these days. Emergency measures related to Covid-19 influenced demand, supply and production. Due to all inconveniences and issues with technical and human resources, thus – weak demand, poor supply, traders in Germany are going for the higher price (at least EUR 10/t) in new contracts. Nobody can predict the future of the market, all scenarios are possible. The USA. Purchase prices for scrap recovered after a period of losses, gaining around $35-40/t. The price varies depending on the region and city. The price range for shredded material is at $265-270/t delivered to the mill. Scrap market is trying to recover in the US while there are still some challenges because of lockdowns and all the quarantine measures. READ MORE... 14 May 2020 New purchases in Turkey Turkey. A company from Marmara region bought HMS 1&2 (80:20), shredded material and bonus scrap from the USA at $249/t CFR, $254/t CFR and $259/t CFR respectively. A mill from the same region purchased 12,000 t of American HMS 1&2 (80:20) at $252/t CFR and 18,000-20,000 t of shredded material at $257/t CFR. Both cargoes are going to be shipped in June. The daily price assessment decreased to $250/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Taiwan. The line of falling activity in the Taiwanese scrap market continues to grow in intensity in May. Shipments of import ferrous scrap went down by 12% in April. There is not enough collected material due to the global situation related to coronavirus pandemic. So that, main exporters to Taiwan (the USA and Japan) have low levels of inventory. Also, demand is low both on export destinations and local. Some market participants suppose that exports are going to decrease more this month. Italy. On the contrary, Italian prices went up by EUR 15/t over one week but mills are not satisfied with the increase of scrap price. The problem with collection of scrap is also essential in Europe. READ MORE... 13 May 2020 Iron ore skyrocketed for the first time in two months Turkey. The daily price assessment has not changed over the day and is still at $252/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast despite new sales from the Baltic region. Exporter from Latvia sold to an Iskenderun-based mill HMS 1&2 (80:20) and bonus material at $252/t CFR and $262/t CFR respectively. Two batches of HMS 1&2 (80:20) were sold to steelmakers from Marmara region at $252/t CFR and $251/t CFR. Market participants suppose that after a series of purchases there would be silence in the market again. Russia. Stabilization of scrap prices in Russia eventuated in the first week of May. Prices for A3 in the Central Federal district are at $197-200/t. In the Ural Federal district A3 remains at $189-210/t. A3 delivered by rail is at $193-198/t in the Southern Federal district. The price range for A3 is at $200-212/t CPT mill. After a period of low prices, iron ore skyrocketed to $90/t CFR for the first time since March 18. Australian iron ore fines 62% Fe gained $2.85/t. Low- and mid-grade material in the amount of 408,000 t was booked on trading ports. Citi forecasted a fall in the price to $70/t last week. However, Fitch Solutions predicts the price at $85/t CFR in 2020 and at $90/t in 2021. Baosteel, a part of China Baowu Steel Group, has closed its third deal in the Chinese national currency with BHP Group. The company had already closed such deals with Rio Tinto and Vale. READ MORE... 12 May 2020 Scrap market is alive and kicking Turkey. After a period of silence, finally, there were new purchases in the Turkish import scrap market. HMS 1&2 (80:20), shredded scrap and bonus material from the UK were bought by a Turkish company at $245/t CFR, $250/t CFR and $255/t CFR respectively. Another Marmara-based company purchased HMS 1&2 (80:20) from the Baltic region at $252/t CFR and bonus scrap from the same region at $262/t CFR. Iskenderun based mill bought a mixed lot from Belgium. HMS 1&2 (75:25) was at $237-238/t CFR in this transaction. Due to all these fresh deals, the daily price assessment increased. It is at $252/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Benelux. Some market participants in Europe believe that the price range for scrap is going to increase in the nearest future due to the recovering demand. Others are thinking about limited uptrend. The price assessment for material from Rotterdam went up by $12-19/t. HMS 1&2 (75:25) is at $218-225/t FOB, HMS 1&2 (80:20) is at $223-230/t FOB. Pakistan. There were some fresh deals in the Pakistani scrap market recently. Shredded scrap in containers from the UK was bought at $260/t CFR this week. Last week HMS 1&2 (80:20) from South Africa was purchased at $260/t CFR. All in all, buyers from Pakistan are not ready to pay more than $260/t due to sluggish demand. Participants of the market are waiting for the improvement of the situation after the end of Ramadan. South Korea. Import ferrous scrap market remains silent in South Korea. Nominal price for HMS 2 is at $211-220/t CFR South Korea, for HMS 1 – at $250/t CFR South Korea. The price range for A3 from Russia is still at $230-235/t CFR South Korea. Russia. Prices in the scrap market are not increasing in Russia. Nominal price for A3 from St. Petersburg is at $240/t CFR, for A3 from the South region is at $235/t CFR. Meanwhile, price for iron ore rose significantly on Friday, gaining $2.15/t. Australian iron ore fines 62% Fe increased to $87.15/t CFR. READ MORE... 08 May 2020 Safe and sound iron ore Turkey. Turkish import scrap market is stable and silent with daily price assessment still remaining at $240/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. India. Indian import scrap market is slowly recovering from the damage caused by emergency measures but is still weak. Meanwhile, domestic market breaks the ground after lockdown. There was only one deal in the past 3 weeks – 1,500 t of HMS 1&2 (80:20) from South Africa were bought at $245/t CFR. Offers from Australia are heard at $250/t CFR for HMS 1&2 (80:20) this week. Iron ore fines 62% Fe from Australia got $1.4/t and went up to $85/t CFR. However, producers were disgruntled with price increase. They want to purchase material at a lower price. Rebar futures rose by $6.6/t, Tangshan billet gained $1.4/t. In April China imported 95.71 million t of iron ore, that is +11.4% month-on month. High demand from steelmakers and partially recovered supply from Australia helped to show a great improvement (18.5%) in yearly comparison. In Europe in contrast to China, demand is weak. For this reason, Metalloinvest had to cut exports of iron ore to 1 million t in April. The company also reduced sales to the Russian market to 875.000 t (-11%). However, Metalloinvest increased shipments to China, Vietnam and Turkey in order to compensate low demand in Europe. READ MORE... 07 May 2020 Iron ore is around the turn of plunge Turkey. Turkish import scrap market remains silent this week. Nevertheless, market participants are expecting some activity soon but the issue with price direction is still unclear. The daily price assessment did not change and is at $240/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. By the way, Turkish mills have increased scrap imports by 35.7% to 5.7 million t in the first quarter of 2020. Shipments from the EU are crucial for the market, they currently account for about half of total deliveries. Australian iron ore fines 62% Fe were at $83.6/t CFR yesterday. This slight increase showed also futures on the DCE. Rebar futures got $2.5/t, Tangshan billet - $4.2/t. The activity in ports remains high. However, Citi announced a possible downtrend in iron ore price in the nearest future. The significant decrease of the price (to $70/t) in late May can happen due to oversupply pressure. Yuzhny GOK is going to enter premium segments of iron ore. The company plans to raise by 25% its investment target in 2020 and to increase Fe content in concentrate. The plan is to produce 10.4 million t of concentrate with 65% Fe content and 2.12 million t with 68% Fe content. READ MORE... 06 May 2020 Scrap market still inactive Turkey. The latest closed deal was heard at the end of last week. HMS 1&2 (80:20) from Europe was at $236/t CFR Iskenderun. This week import scrap market is silent. Producers are waiting for lower prices. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $240/t CFR Turkey. Europe. There are some negotiations in the Italian market this week. Buyers from Italy raised scrap price range by EUR 15-20/t for contracts at least for 500 t. Scrap collectors are trying to reach usual levels of scrap collection and to renew the level of activity. Russia. Prices in Russia are still rising. In the Central Federal District the price range went up to $198-204/t. In the Ural Federal District A3 tags moved to $190-212/t. A3 scrap delivered by rail did not changed within a week and is still at $194-199/t. A3 delivered by trucks is at $204-213/t. Australian iron ore fines 62% Fe stayed at $83.5/t yesterday. As Severstal started to sale pellets to the new destination in April, shipments increased to 410,000 t. The company had to change traditional Europe and Turkey to unexplored China because of the impact of coronavirus pandemic. Severstal took +13% of pellet shipments (month-on-month) by that move. READ MORE... 30 April 2020 Slack in the scrap market Turkey. Turkish buyers are still waiting for lower prices, while sellers are not ready to put them down due to slow collection of the material. So, the import scrap market is in a lull. The daily price assessment remains at $248/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Nothing changed with iron ore price over the day. Australian iron ore fines 62% Fe remained at $81.25/t CFR. The seaborne market is firm with trading volumes about 235,000 t sold on platforms. Buying activity is still stable at ports. Some market participants are slightly optimistic about the future of the market, while others are waiting for something bad. Ferrexpo is going to improve pellets production by 2021. The main idea of the company is to boost production up to 12 million t (previous year – 10,5 million t). Vale, one of the biggest producers of iron ore, released information about its financial results in the first quarter of 2020. Despite coronavirus pandemic and emergency measures in many countries, the company improved financial results. Vale has reduced production guidance for iron ore and pellets for 2020. Of course, there are some uncertainties with potential impact of Covid-19 on the company, but they are not on full display. READ MORE... 29 April 2020 Significant drop in iron ore price Turkey. There were no recent deals in the Turkish import scrap market. Producers are waiting for prices under $250/t CFR for HMS 1&2 (80:20) from the US and Baltic region. The daily price assessment is at $248/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Australian iron ore fines 62% Fe decreased by $2.15/t to $81.25/t CFR. This price level is the lowest since the previous month. This decline happened due to oversupply in Australia and flattening demand in China. Rebar futures lost $3.4/t, Tangshan billet went down by $1.4/t. BHP Group is going to improve steelmaking export capacity by 40 million t (13,8%) at the largest iron ore export terminal Port Hedland. EVRAZ KGOK shipped 66,000 t of pellets in April. This is +94% month-on-month. The company expanded the geography of sales. READ MORE... 28 April 2020 Breaking the ice of silence in the scrap market Turkey. A fresh deal from the Baltic region broke the ice of silence and stability in the import scrap market. 26,000 t of HMS 1&2 (80:20) from the Baltic Sea basin were bought by a Marmara-based mill at $242/t CFR. 4,000 t of bonus scrap from St. Petersburg were purchased by the same mill at $252/t CFR. Both cargoes will be shipped in June. This significant drop in the price happened due to low demand for finished material. The daily price assessment is at $248/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Russia. Some mills in Russia have a very acute shortage in their procurement targets, thuswise there is an upward trend in prices for scrap. A3 scrap went up to $190-197/t in the Central Federal District. The same material in the Ural Federal District is at $190-208/t. In the Southern Federal District A3 scrap delivered by railway increased to $190-196/t. A3 delivered by tracks is at $196-209/t. Iron ore price recovered its poise on Friday and on Monday, 27, Australian iron ore fines 62% Fe still remain at $83.4/t. Price stays firm due to both high buying activity and low raw materials inventory. Meanwhile, rebar futures went down by $3.8/t. READ MORE... 27 April 2020 Low activity in the scrap market Turkey. Market participants were not active at the end of the week. Actually, very few negotiations were heard. Demand for steel products is still low, suppliers are not ready to put the price trend down. Meanwhile, some buyers are asking for lower prices from mills. As there were no fresh deals, the daily price assessment for HMS 1&2 (80:20) from the US East Coast was at $255-258/t CFR Turkey. Vietnam. Unlike the situation in Turkey, Vietnamese import scrap market is alive and prosperous. H2 from Japan is at $235-245/t CFR. HS scrap from the same region is at $275-280/t CFR. 20,000 t of H2 scrap from Japan were booked by customers in the South of Vietnam at $234-235/t CFR. Another customer in the North of Vietnam booked 20,000 t of the same material at $240/t CFR. HMS 1&2 (50:50) from Hong Kong added $20-25/t and is at $235-240/t CFR now. Vietnamese buyer booked 3,000-5,000 t at $235/t CFR of this material last week. The price assessment is at $250-255/t CFR Vietnam for HMS 1&2 (80:20) from the US. Russia. Nothing changed within several days as Russian market is in a lull. There were no deals or negotiations. Demand is rather low. Nominal A3 price from St. Petersburg is at $255/t CFR Turkey. Scrap from Rostov-on-Don lost $5/t and is at $250/t CFR Turkey now. Benelux. Both sellers in Benelux and overseas buyers are not interested much in negotiations and new deals due to oversupply of scrap material in many regions. The daily price assessment for HMS 1&2 (80:20) from Rotterdam is at $230/t FOB, for HMS 1&2 (75:25) from the same region is at $225/t FOB. Some market participants are sure that the price trend will go down soon. READ MORE... 24 April 2020 Iron ore seems rocky Australian iron ore fines 62% Fe lost $0.5/t is $83.5/t CFR on Thursday. Tangshan billet got $2.8/t, rebar futures decreased by $6.3/t over the day. However, fundamentals in the raw material market remain firm and healthy. Some companies reduced production guidance or released a drop in steel inventories, but seaborne trade is recovering and demonstrating high buying activity at ports. Covid-19 made an impact on many companies but has not influenced Kimkano-Sutarsky GOK. A part of IRC increased production of iron ore concentrate by 1% to 670,000 t in the first quarter of 2020. Shipments went up by 6% to 663,000 t. Severstal raised concentrate quality to 68.79% in the first quarter of 2020 at Olkon. The plan is to improve it to 70%. Shipments of concentrate in-house also increased in Q1 2020 by 2%. LKAB, pellet supplier from Sweden, released information that the company has strengthened financial results in Q1 2020. LKAB is expecting possible impacts of coronavirus pandemic in the future, but for now – production is stable, delivery volumes are high. 10% added the volume of sales, the average spot price for iron ore is at $89/t. The forecast for this year is still unpredictable. READ MORE... 24 April 2020 No-nonsense scrap market Turkey. Market participants are waiting for new deals for finished steel products. They believe that those bids will predict the level of import scrap prices. As there were no fresh deals and the last one was at $255-257/t CFR Turkey for HMS 1&2 (80:20) from the USA, the daily price assessment remains $255-258/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Pakistan. Despite slow activity in the scrap market in April, one steelmaker managed to book 5,000 t of containerized shredded scrap from the US at $270/t CFR Pakistan. Supplier from Britain sold 500 t of the same material at $272/t CFR this week. Due to low availability of scrap, prices increased from the end of March. Market participants cannot predict even the nearest future of the market because nobody knows further actions of the government towards measures of emergency and, of course, towards steel industry. READ MORE... 23 April 2020 Iron ore got one back Turkey. Turkish import scrap market remains silent. The daily price assessment did not change. HMS 1&2 (80:20) from the US East Coast stays at $255-258/t CFR Turkey. Mills are busy with their own sales, while scrap suppliers do not change their offers and prefer to avoid discounts. Market participants suppose that the future of scrap market is rather unpredictable. Prices for the local scrap are increasing. Some companies added $9-21/t in purchase prices for domestic scrap. Iron ore got $1/t over the day. Australian iron ore fines 62% Fe is up to $84/t CFR. Firm demand helps the market to keep things on an even keel as crude oil plunge made an impact on sentiments. Rebar futures increased by $5.4/t since Tuesday. Steelmakers from China are still active at ports. However, there were no fresh deals on platforms this week. Demand in China is gathering speed after a lull that was caused by lockdown. IRC is going to boost iron ore concentrate exports to 184,000 t in April. It is up by 27% month-on-month. READ MORE... 22 April 2020 Wobbling iron ore price Australian iron ore fines 62% Fe lost $1.5/t and the price on Tuesday was $83/t CFR. This plunge happened because of increase in the raw material output. Vale, Brazil’s producer of iron ore and nickel, showed a decrease in output in the first quarter of 2020 but it did not affect global supply, which is still sufficient. Rio Tinto raised output in the raw material by 2% in Q1 2020. However, crude oil price collapse made an impact on iron ore. During last 4 days rebar futures lost $6.2/t. Market participants are not optimistic about the nearest future as the market is weak and seaborne trade is slow. Meanwhile, Iran’s iron ore production increased by 4% during the last 12 months. Iron ore concentrate output went up to 47.210 million t. Iranian market participants have are very optimistic about steel mills for the current Persian year. Some market insiders suppose that steel production will continue to rise in Iran. READ MORE... 22 April 2020 Silent Turkish import scrap market Turkey. This game plan is well-known for all of us. Calm – storm – activity – calm. Turkish import scrap market was calm at the end of February, than there was storm and by storm we mean the outbreak of coronavirus pandemic, lockdowns in many countries and its further impact on the global economy. There was a period of active purchases with stable prices when steelmakers from Turkey bought scrap from the USA, Baltic region. And now, in the fourth week of March there are no fresh deals. Prices did not change, negotiations slowed down, market participants are not active. Producers have covered demand for materials. Turkish import scrap market is in a lull. The daily price assessment did not change either, it is at $255-258/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Is it a temporary drop in the activity or a harbinger of another storm, we will find out later. Russia. Meanwhile, steel scrap bids are increasing in Russia. In the Central Federal district A3 is at $178-187/t. The same material in the Ural Federal district rose to $181-203/t. Delivered by railway A3 is at $175-194/t in the Southern Federal district. This increase in the prices is maintaining by competitive consumers. READ MORE... 21 April 2020 Nothing much about the market Taiwan. Feng Hsin Iron and Steel, Taiwan’s leading steelmaker, announced an increase in local scrap prices. HMS 1&2 (80:20) went up by $10/t and is at $246/t now. Companies are going to collect prompt cargoes. Market participants are sure that first import shipments will be only in June. HMS 1&2 (80:20) in containers from the US is at $220/t CFR Taiwan. 62% Fe iron ore index increased to $86.20/t on Monday. Vale, the largest producer of iron ore and nickel in the world, lost 8% in the guidance of iron ore fines production. It fell to 310-330 million t from 340-355 million t. Vale sold only 59 million t (usually 63-68 million t) of iron ore fines and pellets in the first quarter of 2020. Sales of iron ore product went down by 13% from the first quarter of 2019. This happened due to coronavirus outbreak and all emergency measures taken by the government in order to protect the public. READ MORE... 20 April 2020 Iron ore keeps balance Australian iron ore fines 62% Fe increased by $0.5/t to $84.5/t CFR, while the futures on the DCE gained $0.8/t. Rio Tinto announced increases in shipments (5%) and Pilbara iron ore output (2%) in the first quarter of 2020. Iron ore output was 77.8 million t, sales – 72.9 million t. However, the raw material production decreased by 7%. Even though economy is weak in the Q1 2020, market participants are being positive-minded. The local government in South Africa decided to allow mining companies to work at 50% capacity in order to help the economy overcome all the difficulties that are related to lockdown. The quarantine began on March 27; nobody knows how long it will last. Mines are intended to recover and to return to full operation by the middle of May. Sokolov-Sarbai Mining and Processing Unit will supply 350,000 t of pellets and 200,000 t of concentrate to China. This contract will help SSPGO to keep balance in shipments. Traditionally, there were shipments to Russia and Kazakhstan but recently there were none due to repairs and production targets optimization amid 2019-nCoV. READ MORE... 20 April 2020 Business as usual - scrap market Turkey. Last week ended with several new deals in the import ferrous scrap market. Two batches of HMS 1&2 (80:20) from the US were bought by steelmakers from Izmir and Iskenderun. The material was priced at $256/t CFR and $256.5/t CFR Turkey respectively. 30,000 t of mixed batch from Poland were bought by an importer from Marmara. HMS 1&2 (80:20) was at $255/t CFR. The same material from Sweden was purchased at $256/t CFR by another Marmara-based importer. The daily price assessment for HMS 1&2 (80:20) from the US East Coast stays at $255-258/t CFR Turkey. Many Turkish mills are in need of more material in order to fulfill low stocks. That’s why some companies increased their buying prices for domestic scrap by $6-7/t. South Korea. In spite of the fact that Korean importers are not active in the third week of April, having stockpiled with ferrous scrap before, suppliers from Japan, Russia are moving their price idea. HMS 2 from Japan is now at $218/t CFR South Korea. The nominal price in South Korea for HMS 2 added $9-11/t and is at $209-218/t CFR this week. Price for A3 from Russia soared to heaven and ‘heaven’ is at $240/t CFR South Korea. HMS 1 from the US is heard at $250/t CFR South Korea, however this price is not acceptable for steel producers. Taking into account a weak steel segment, market participants are waiting for the price around $220-225/t CFR South Korea. Benelux. Participants of Benelux scrap market were quite mild this week. There were no deals between Benelux and Turkey since April 7, when HMS 1&2 (80:20) was bought at $243/t CFR Turkey. These days local companies are waiting for the price at $260/t CFR, but Turkish steelmakers aren’t going to buy material at this price. The daily price assessment is at $230/t FOB and $225/t FOB for HMS 1&2 (80:20) and HMS 1&2 (75:25) from Rotterdam respectively. Some market participants suppose that this price range is going to be stable or the price will go down soon because mills in Turkey have enough material for their needs. READ MORE... 17 April 2020 Iron ore is not stable anymore Turkey. Two threads are popular among Turkish producers now – they buy material from the USA and from the Azov Black Sea basin. 20,000 t of HMS 1&2 (90:10) and 10,000 t of bonus material from the USA were bought by a Karadeniz-based mill at $260/t CFR and $265/t CFR respectively. Two more deals were heard between Turkey and Russia. 7,000 t (in total) of HMS 1&2 (90:10) were at $257/t CFR. Import scrap prices stabilized due to new deals. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is still at $255-258/t CFR Turkey. India. Indian scrap market is not active in April due to the lockdown and all emergency measures. Nevertheless, there were some offers from Australia and South America. HMS 1&2(80:20) from Australia was at $250/t CFR, shredded material was at $255/t CFR from the same region. HMS 1 from South America was at $255-260/t CFR. The lack of domestic scrap, limited availability of scrap in the global market led to such an increase in the price. Price for iron ore lost $1.75/t on Thursday. Australian iron ore fines 62% Fe went down to $84/t CFR. This reduction is contingent on production cuts in Tangshan city. Tangshan authorities need to ease oversupply in finished products market to normalize the situation. READ MORE... 16 April 2020 Positive dynamics amid scrap market Turkey. Turkish mills cast around HMS 1&2 (80:20) with the price below $260/t CFR but exporters from the US, the EU and the Baltic region are interested only in deals above $260/t. However, HMS 1&2 (80:20) from St. Petersburg was bought by an Iskenderun-based producer at $255/t CFR Turkey. The daily price assessment is still at $255-258/t CFR for HMS 1&2 (80:20) from the US East Coast. Prices for Turkish domestic scrap are increasing too. Some companies raised their purchase prices by $3-19/t amid rising prices for imported scrap. As many warehouses are empty, mills have to support supply from the domestic market. Vietnam. Imports in Vietnam went up by 65% in the first quarter of 2020. Main suppliers were Japan and the USA. However, imports in March went down by 8.3% month-on-month. The quotes for H2 scrap from Japan are at $215-220/t CFR Vietnam, for HMS 1&2 (80:20) from the US are at $240/t CFR Vietnam. HMS 1&2 (50:50) from Hong Kong is at $210/t CFR. Europe. Germany suffered from the coronavirus pandemic less than other European countries. Only producers in both Kehl and Bremen were inactive in March and had to cut their production due to emergency measures. There were some negotiations in April recently. Local producers asked for discounts and got EUR 20-35/t reduction. The price for scrap is now at EUR 200-225/t delivered. Market participants cannot predict further market evolution as the situation with COVID-19 is volatile and changes rapidly. READ MORE... 15 April 2020 Soaring to new heights Turkey. Prices for ferrous scrap increased in the Turkish import market. HMS 1&2 (80:20), shredded material and bonus grade were booked by an Iskenderun-based producer. Mixed cargo from the US was priced at $257/t CFR Turkey, $262/t CFR and at $267/t CFR respectively. Some market participants are interested in cargos from Romania and Russia. The price range for Romanian HMS 1&2 (80:20) is at $248-250/t CFR and at $255/t CFR for the same material from Russia. The daily price assessment is at $255-258/t CFR Turkey for HMS 1&2 (80:20) from US East Coast. While there is a certain uptrend in scrap market, iron ore market is keeping up to the rising tendency. Australian iron ore fines 62% Fe gained $1.5/t to $85.75/t CFR. The other upside – China’s iron ore imports increased to 262.73 million t (1.3%) during last 3 months. Tangshan billet got $1.4/t over the day. Chinese mills are still interested in bookings at ports. High demand helped China to have strong imports amounted to 85.91 million t in March in spite of global reduction of supply. Iron ore deliveries are expecting to be high in this month due to constant and clear demand. The situation mended not only in China. Ukraine’s iron ore exports conquered new peaks in March, adding 20% month-on-month, reaching 4 million t. Some shipments (sintering ore and concentrate) went up by 30% to 2.5 million t, others (pellet and sinter) by 3% to 1.5 million t. READ MORE... 14 April 2020 Desired uptrend Turkey. Latvian scrap supplier sold to a Marmara-based steelmaker 35,000 t of HMS 1&2 (80:20) at $255/t CFR and bonus grade at $265/t CFR. The daily price assessment is at $255-258/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Purchase prices for domestic scrap went up by $8-34/t at the beginning of the week. Some market participants suppose that the price will certainly increase in the nearest future. Russia. Sentiments changed during the last several days in Russia. A3 added $5-7/t and is at $174-185/t. In the Ural Federal District scrap bids increased, A3 is at $192-196/t. In the Southern Federal District the price range is stable ($170-179/t). Regional mills also increased bids for A3, which is priced at $184-189/t. Price for iron ore fines is firm. Australian iron ore fines 62% Fe stay at $84.25/t CFR. Rebar futures and Tangshan billet added $2/t and $4.3/t respectively. There was a recent deal for 90,000 t Carajas fines 65% Fe. READ MORE... 13 April 2020 Spring is recognized by prices in scrap market Turkey. Negotiations between mills and suppliers are active, scrap market is recovering. HMS 1&2 (80:20) from a Baltic Sea exporter was bought by a Marmara-based producer at $250/t CFR Turkey. Most exporters are waiting for the price at least at $260/t CFR in future. The daily price assessment is at $253-255/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Vietnam. Bids for H2 are at $210/t CFR, while Japanese suppliers offered $215-220/t CFR Vietnam. 5,000 t of HS from Japan was sold at $254/t CFR Vietnam. The assessment for the price of HMS 1&2 (80:20) from the USA is at $240/t CFR Vietnam. Russia. A Karadeniz-based producer bought A3 scrap cargo at $248/t CFR Turkey. 2 batches of HMS 1&2 (90:10) were sold at $250/t CFR, $251/t CFR Marmara. Nominal price for A3 scrap from the St. Petersburg is at $250-255/t CFR Turkey. South Korea. 15,000 t of A3 at $209/t CFR South Korea were bought by a South Korean purchaser. 3,000 t were bought at $212/t CFR South Korea. Benelux. Prices in Benelux are stable. 40,000 t of mixed batch were sold by a scrap collector from Belgium. HMS 1&2 (75:25) was at $235/t CFR. HMS 1&2 (80:20) from the Baltic Sea was sold at $250/t CFR. The price assessment is at $225/t FOB and at $220/t FOB for HMS 1&2 (75:25) and for HMS 1&2 (80:20) respectively. READ MORE... 10 April 2020 Negotiations resulted in deals in scrap market Turkey. Nowadays, domestic scrap in Turkey is rather limited. Many companies are looking for short-sea cargoes. Marmara-based producer bought HMS 1&2 (90:10) from Russia at $250/t CFR and $251/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $253-255/t CFR Turkey. Japan. Kanto Tetsugen Cooperative Association sold 20,200 t of HMS 2 scrap with an average price at $189.6/t FAS. $1.25/t added Australian iron ore fines 62% Fe over the day. The price is at $84/t CFR. Rebar futures increased by $8.8/t, Tangshan billet by $1.4/t. Luossavaara-Kiirunavaara Aktiebolag, Sweden’s iron ore miner wasn’t affected by coronavirus pandemic. LKAB, a leading pellets supplier, continues to operate in line with some restrictions. READ MORE... 09 April 2020 But-and-ben iron ore price The demand for finished steel in China is rather slow. Australian iron ore fines 62% Fe increased by $0.75/t to $82.75/t CFR. The futures on the DCE gained $2.1/t. Meanwhile, steel price is decreasing. Tangshan billet lost $1.4/t. Abu Dhabi Ports is going to expand the fleet in order to become one of the key players in this segment. Also the company is going to support operations of Emirates Steel Industries. Due to this expansion, ESI will be able to increase the reliability of business. Arcelormittal Kryvyi Rih is concerned about the quality of iron ore concentrate. AMKR implemented a special program and installed new equipment that will increase Fe content in the material. The quality of the concentrate is now 68% (usually it was 63.5%). This material will be shipped to Poland. READ MORE... 09 April 2020 Upward trend in scrap market Benelux. Prices for scrap are increasing in Europe. HMS 1&2 material is now at $196-201/t delivered. Scrap deals in Turkey gained $10-15/t, it means the price is around $250/t CFR. This new upward trend is proved by the recent booking in Turkey. A3 was at $248/t CFR. The daily assessment is at $220/t FOB for HMS 1&2 (75:25) from Rotterdam and at $225/t FOB for HMS 1&2 (80:20). Turkey. Finally, Turkish import scrap market got awake from sleep. There are negotiations with exporters from different destinations. There are also some new deals. Turkish steelmaker bought 3,000 t of A3 from the Azov-Black Sea basin at $248/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $253-255/t CFR Turkey. Prices for Turkish domestic scrap are almost stable but many mills increased their purchase prices by $1-16/t. Market participants are glad to see positive dynamics but they know that this trend should strengthen. READ MORE... 08 April 2020 Much-awaited direction of the price Turkey. 15,000 t of HMS 1&2 (90:10), 12,000 t of shredded scrap, 3,000 t of bonus material from the USA were sold to a Marmara-based mill at $245/t CFR, $248/t CFR and $253/t CFR respectively. 10,000 t of HMS 1&2 (75:25), 20,000 t of shredded, 4,000 t of P&S, 6,000 t of busheling were sold from Belgium to an Iskenderun-based mill at $235/t CFR, $243/t CFR, $248/t CFR and $253/t CFR. Some market participants are optimistic about the price, others expect decrease. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $243/t CFR Turkey. Europe. There are some negotiations between scrap collectors in Europe. Companies in Benelux are getting more active. The price for HMS 1&2 (80:20) from Europe is assessed at $240/t CFR. The daily price assessment for HMS 1&2 (75:25) from Rotterdam is at $210/t FOB, for HMS 1&2 (80:20) is at $215/t FOB. The future of the market is still unclear due to all recent changes and the whole situation with coronavirus pandemic. READ MORE... 07 April 2020 Stable price for scrap, Russian iron ore reached maximum Turkey. Scrap suppliers are going to insist on higher prices, while participants of the market are waiting for the clarification of the situation. Prices are stable now, nevertheless sellers want to increase them. HMS 1&2 (80:20) from the US are at $235/t CFR Turkey. HMS 1&2 (80:20) from Russia is at $224/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $225-230/t CFR Turkey. Russia. Vyksa Steel Works, that is located in the Central Federal District, reduced scrap bids. The price range for A3 is at $167-180/t. Seversky Tube Works also reduced scrap bids and A3 is now at $182-191/t. In the Southern Federal District, TMK lowered bids for scrap delivered by railway, the price is at $174-179/t for A3. The USA. A steel producer and recycler from the US ceased operations at deep-sea export dock. Schnitzer Steel’s operations were closed due to the situation with lockdowns. Meanwhile, some ferrous scrap bulk docks will be open for adjusted hours. ____________________________________________________________________________________________ National Mineral Development Corporation in India reduced prices by $6.6/t for iron ore due to weak demand. Offers for lumps and fines decreased by 16% and 17% respectively. Iron ore from Russia went up in March because of the sudden increase of demand. Exports added 17% and reached a half-year maximum. READ MORE... 06 April 2020 Scrap market is far from stability Turkey. Finally the situation in the import scrap market got better. A scrap collector from the USA sold 21,000 t of HMS 1&2 (90:10) and 5,000 t of shredded material at $218/t CFR Iskenderun. Another supplier from Russia sold 3,000 t of HMS 1&2 (90:10) to a Marmara-based producer at $224/t CFR. The daily price assessment is at $225-230/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. India. There are problems with logistics due to the precautionary measures against COVID-19. Market participants are going to resume basic work but they are waiting for the new signals from the government. Demand is weak; in fact, there is no demand because of producers who cut their output. On the bright side is that the problem with containers was solved. Russia. Nominal prices for HMS 1&2 (90:10) from St. Petersburg went up to $225-230/t CFR Turkey. However, market participants are not optimistic. They suppose prices will soon decrease again. One seller from Russian sold 10,000 t of A3 at $210/t CFR South Korea. Europe. There is a lull in Benelux scrap market. Scrap dealers are not interested in export. Market players are not satisfied with the price range. The daily price assessment for HMS 1&2 (75:25) is at $195-200/t FOB, for HMS 1&2 (80:20) from Rotterdam is at $200-205/t FOB. South Korea. The nominal price for HMS 1 from the Us East Coast went down to $220-225/t CFR. HMS 1&2 (50:50) from Japan is at $216/t CFR. Meanwhile, Australian iron ore fines 62% Fe lost $0.25/t and is now at $82.75/t CFR. Prices at ports gained $0.7-1.4/t due to strong demand. Iron Ore Company of Canada is going to reduce pellets production because of the situation with coronavirus pandemic. Meanwhile, Brazilian National Mining Agency banned 47 unstable dams of Vale. They did not prove their safety. READ MORE... 03 April 2020 Scrap market is waiting for life to happen Turkey. There were no recent deals, market participants are still waiting for the situation to become stable. As the import scrap market is silent, the daily price assessment for HMS 1&2 (80:20) from the US East Coast is unchanged – it is at $206-208/t CFR Turkey. Premium HMS 1&2 (80:20) stays at $200/t CFR. Vietnam. Prices in Vietnamese scrap market are falling down, demand leaves a lot to be desired. Some contracts were signed with Japan for 15,000 t of H2 at $220-223/t CFR. Price for HMS 1&2 (80:20) from the USA stands at $235-238/t CFR. HMS 1&2 (50:50) from Hong Kong is at $215/t CFR. Australian iron ore fines 62% Fe went up to $83/t CFR, futures on the DCE got $2.8/t after Vale, Brazilian mining giant, announced that it is going to boost processing capacity at Brucutu plant to 80%. READ MORE... 02 April 2020 COVID-19 continues to affect iron ore market Many corporations all over the world suffer because of lockdowns and precautionary measures because of COVID-19. After the government in India announced lockdown, many steelmakers decided to stop utilization rates. All in all, moods among market participants are not positive. National Mineral Development Corporation attested their production and sales getting lower. The corporation lost 1% in production and 5% in sales in FY2020. NMDC is going to produce 48 million t of iron ore in FY2021. Sentiments in the finished steel got worsen. Steel price and futures went down. While the daily price assessment for HMS 1&2 (80:20) from the Us East Coast remains at $206-208/t CFR Turkey, Australian iron ore fines 62% Fe decreased to $81.5/t CFR, the futures on the DCE lost $2.4/t. Rebar futures lost $9/t, Tangshan billet - $7.1/t, Pilbara Blend 61% Fe - $5/t over a week. As the market of steel products goes through a bad stretch and there are many uncertainties with coronavirus, the situation with prices for Fortesque Blend fines 58.3/% Fe for April shipment is not stable, they lost 10%. Some market participants suppose that iron ore demand is going to fall further due to escalating COVID-19. Meanwhile, Vale don’t expect coronavirus to have an impact on its Brazilian operations. The guidance production of iron ore fines is still at 340-355 million t. READ MORE... 01 April 2020 Stable price for scrap, iron ore rose over one day Turkey. Turkish producers are afraid to book import scrap because of shipping problems and the whole situation with restrictions due to coronavirus. Nevertheless, prices are quite stable. Steelmakers ask the price for deep-sea scrap on around $200/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast remains at $206-208/t CFR Turkey. Europe. Ward Recycling, the scrap collector in the UK, decided to stop accepting vehicles. Ward also protects its workforce and customers by imposing social distancing. Australian iron ore fines 62% Fe went up to $83.5/t CFR. The price for iron ore rose in spite of slow buying activity in the seaborne market. China Steel Logistics Professional Committee announced that the country’s steel PMI recovered in March (42.2%) but it is still below 50%. Severstal cut pellet exports in March by 18% to 304,000 t because of higher requirement and repairs at Karelsky Okatysh asset. READ MORE... 31 March 2020 Prices in the scrap market are going down Europe. While Benelux and UK are in the wait-and-see mode because of the lockdowns, metal recyclers from Scandinavia sold cargoes with decreased price to Turkey. HMS 1&2 (80:20) from the Baltic Sea region was bought at $206-207/t CFR Turkey last week. The daily price assessment for HMS 1&2 (75:25) went down by $15/t to $175-180/t FOB, for HMS 1&2 (80:20) from Rotterdam to $180-185/t FOB. Some market participants suppose that steel industry is going to suffer from all the unpleasant consequences related to restriction measures. At the end of last week, a producer from Turkey booked 30,000 t of HMS 1&2 (80:20) priced at $207/t CFR, shredded material at $212/t CFR and bonus grade at $217/t CFR. Another mill in Turkey bought from Denmark - 14,000 t of shredded scrap at $211/t CFR, 9,000 t of HMS 1&2 (80:20) at $206/t CFR and 3,000 t of bonus material at $216/t CFR. Price for the material from the Baltic Sea region is still going down. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $206-208/t CFR Turkey. European Metal Recycling company suspends recycling operations across the UK and limits its services to customers. EMR is closing a number of its assets from March 27. Only 27 sites (out of 70) will remain open. Russia. In the Ural Federal District the price range is unchanged - $184-188/t. The price for A3 is at $174-179/t. A3 delivered by trucks is at $183-188/t CPT mill. Regional price range is at $167-172/t for A3. By the way, Australian iron ore fines 62% Fe went down by $2.65/t to $82.75/t CFR. The futures on the dCE lost $1.9/t. Tangshan billet price decreased by $12.3/t. READ MORE... 30 March 2020 Windfall scrap market Turkey. The situation in the Turkish scrap market is rather tricky. Steelmakers set bids for finished products on the falling tags. Suppliers’ offers are not as low as bid prices from mills. HMS 1&2 (80:20) is approximately at $210/t CFR for deep-sea cargoes. The same material is at $200/t CFR for short-sea. There are no deals because of the difference between bids and offers and there is a certain reduction in production. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $225/t CFR Turkey. Far East. Taiwanese consumers are interested in Japanese HMS 1&2 (50:50) at $225/t CFR. HMS 2 is now at $160.8-183.7/t. There were no recent deals closed between South Korea and Russia or the USA. HMS 1 from the US went down to $245-250/t CFR. Steel mills are closed now in Pakistan due to the outbreak of coronavirus pandemic. Of course, the measures of the government affected business and there are no deals and negotiations, what everyone hopes that the current situation will improve. The latest offer from Britain for shredded scrap in containers was at $245-250/t CFR. Benelux. Market participants in Benelux are pessimistic. They do not believe that the market will soon recover. Purchase prices of Benelux scrap yards were stable over the week. They were at $177/t. The daily price assessment for HMS 1&2 (80:20) was at $195-200/t FOB, the price for HMS 1&2 (75:25) went down also to $190-195/t FOB. READ MORE... 27 March 2020 Cold fact - scrap market needs time Turkey. A piece of good news - the daily price assessment for HMS 1&2 (80:20) from the US East Coast hasn’t changed. It is still at $230/t CFR Turkey. On the other end of the spectrum – demand is weak, companies are looking for low prices and ready to pay only $220/t CFR for HMS 1&2 (80:20) and there are no recent deals closed. The situation with Turkish domestic ferrous scrap is unpredictable and difficult. Prices went down again by $6-11/t. Vietnam. Japanese H2 was offered to Vietnamese buyers at $230-235/t CFR Vietnam, but they refused to make a deal – prices are going down, the market is uncertain. The price assessment is at $250/t CFR Vietnam for HMS 1&2 (80:20) from the USA. HMS 1&2 (50:50) from Hong Kong is still at $233-235/t CFR. Australian iron ore fines 62% Fe went down to $86/t CFR. Demand for steel products rallies. Nevertheless, prices for iron ore in Russia will probably rise because of the problems with currency. It is expected that prices will add 6-8% in April. However, they are not set yet. Producers are going to wait for the end of negotiations on long-term contracts. READ MORE... 26 March 2020 Future of the market is unpredictable Turkey. HMS 1&2 (80:20) from US and Baltic is now at $220-225/t CFR. The daily price assessment is at $230/t for HMS 1&2 (80:20) from the US East Coast. This difficult situation in the finished products segment affects many market participants. Many of them prefer to wait and see the consequences of the outbreak of COVID-19 and global economy instability. Nobody knows what is going to happen the next week. Purchase prices for Turkish domestic scrap are decreasing. Some producers announced falling by $2-6/t over one day. Steelmakers suppose that prices will keep going down. Australian iron ore fines 62% Fe went up to $86.5/t CFR. The futures increased by $3.6/t in May contracts. READ MORE... 25 March 2020 Iron ore - hold back on Australian iron ore fines 62% went up to $83/t CFR, while rebar futures gained $1.5/t due to both the closure of Vale’s Malaysian blending center and shutdown of mining activity in South Africa. These measures were assumed in order to restrain the spread of coronavirus pandemic. The government of the Republic of South Africa announced that the country will establish lockdown due to COVID-19 for 21 days. They suppose that this measure will protect people from getting new disease. Quebec Iron Ore Inc. is going to help the government and the company is phasing-out mining activity of Bloom Lake. The date is settled, it is April 13. READ MORE... 25 March 2020 Flailing state of Turkish scrap market Turkey. Market participants are worried about all the new measures of restriction in the countries. Some suppliers even think that there is a possibility that scrap inflow could stop in some regions. A cargo from the UK is expected to be shipped in April. HMS 1&2 (80:20) was bought at $226/t CFR by an Iskenderun-based mill. The daily price assessment went down to $235/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Prices for local scrap are going down too. Many mills are shaving the price for domestic scrap by $4-11/t. Only Erdemir and Isdemir don’t change purchase prices. These steel mills are leaving the prices at levels of Monday. READ MORE... 24 March 2020 Unpleasing future According to DIIS (Department of Industry, Innovation and Science in Australia) iron ore prices will go down in the future. In 2019 the raw material was at $80.1/t FOB, in 2020 - $78/t FOB. Experts are suggesting prices in the next few years to decrease (about $70/t FOB in 2021 and $61/t FOB by 2025). The price will probably be influenced by the recovery of Brazil’s production. It is expected that Australia’s export will increase this year – from 836 million t in 2019 to 892 million t on 2020. Australian iron ore fines 62% Fe went down to $80.5/t CFR. Tangshan billet lost $11.3/t over the last days. Rebar futures had the same tendency. Fortescue Metals Group announced that the company was not affected by coronavirus pandemic yet. READ MORE... 24 March 2020 Import scrap will probably lose more Turkey. Bulgaria sold to a Marmara-based company 1,600 t of HMS 1&2 (80:20) at $210/t CFR. Another short-sea purchase was made from Romania. HMS 1&2 (80:20) was at $217/t CFR Turkey. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $240-245/t CFR Turkey. There are still no deals from deep-sea. Demand for domestic scrap is good enough. Turkish material lost $9-17/t, while imported scrap lost $20-25/t over the week and will probably lose more. Russia. Prices fro domestic ferrous scrap went down in both Southern Federal and Ural districts. Central Federal District has not much to boast of, - bids are flat. A3 material is now at $178-182/t. In the Southern Federal District A3 material delivered by rail is at $171/t, A3 material delivered by trucks – at $182-191/t. READ MORE... 23 March 2020 Things in the scrap market getting worse due to the outbreak of SARS-cov-19 Turkey. There is nothing new under the sun and in the Turkish scrap market. It is still silent. Prices for domestic ferrous scrap are weak due to sluggish demand and poor sales of finished products. The general mood is not optimistic. Sellers and buyers are in the wait-and-see mode. There are some negotiations but they are quite slow. The latest deal was closed at $248/t CFR Turkey for HMS 1&2 (80:20) from Canada. The daily price assessment went down to $245-248/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. India. People are stressed because of the outbreak of SARS-cov-19, there is lack of demand for finished steel and what is more – the rupee is weak. All these factors have a rather negative impact on the scrap market. Shredded scrap from the USA is at $275-280/t CFR Nhava Sheva and Mundra ports. HMS 1 from South America is at $270-275/t CFR. Future is unpredictable. Market participants are worried about global economy and currency fluctuations. Russia. Prices for domestic steel scrap and nominal prices went down in the end of the week. A3 scrap prices from Rostov-on-Don decreased to $235-240/t CFR Turkey. A3 scrap from St. Petersburg is at $240-245/t CFR Turkey. Italy. Scrap market in Italy is still functioning but there are no new contracts. Mills are using “open price lists”. The producers push prices down by EUR 15-20/t. As coronavirus pandemic really hurt Italy, steel plants are under the risk of closure. Benelux. Small scrap dealers in both Belgium and Germany are closed. Some companies are doing only B2B business. This period of total uncertainty affects all participants of the market. HMS 1&2 (75:25) from Rotterdam is at $210-215/t FOB. HMS 1&2 (80:20) is at $215-220/t FOB. HMS 1&2 material is at $161-177/t. READ MORE... 20 March 2020 Does it escalate to horrendous proportions? When in February there was a lull in the Turkish scrap market it was certainly the calm before the storm. We bear in mind that “the storm” is actually coronavirus pandemic. The situation with this new disease is so complicated, - incomprehensible information, turbid utterances. People are going into panic mode, governments are closing borders, restricting activity of citizens and implementing nationwide quarantines. The scrap dealers are worried about recent developments. This might be a hard period for all companies. Especially for those, which are based in Benelux. Scrap yards in Benelux can only do B2B business now. Scrap collectors in Germany have the similar situation. Turkish mills are refraining from deals and are going to stop production. British participants of the market are not affected so much with this ‘restricting’ thing, they are just waiting and taking some preventive measures on 2019-nCoV. Most probably, the production will soon recover. Anyway, some scrap collectors are still in the market, but they only announce nominal prices for scrap. Turkish domestic scrap went down by $11-21/t. The daily assessment price for HMS 1&2 (80:20) from the US East Coast is at $248-253/t CFR Turkey. Australian iron ore fines 62% Fe went down to $89/t CFR. Tangshan billet decreased by $5.7/t. Only 80,000 t of the raw material was booked on a platform. Most of the participants of the market suppose that iron ore will stay firm. READ MORE... 19 March 2020 Nobody expected this in the Turkish scrap market Turkey. Canada sold to a Marmara-based steelmaker 45,000 t of material at price of $255/t CFR Turkey. It will be shipped in the first half of the next month. The material included 10,000 t of HMS 1&2 (95:5), 15,000 t of bonus material and 20,000 t of shredded scrap. HMS 1&2 (80:20) was sold at $248/t CFR. The daily price assessment went down to $248-253/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Last week the price for scrap from Baltic region was at $268/t CFR and now the price is so much lower. Due to many obstacles and reasons, the situation in the import scrap market is unclear. Turkish port controls were tightened because of the COVID-19. Foreign ships are going to have new restrictions. These measures can lead to delays in shipments or to a cancellation of orders. Vessels will have to be in the quarantine at anchor area for 14 days. Market participants are disgruntled with such situation, but Turkish authorities think, that all people just have to adapt for new conditions. South Korea. A producer from South Korea booked 90,000 t of A3 scrap from Russia at $249/t CFR. The cargo will be shipped in May. South Korean buyers don’t want to negotiate till the global market have some certain way. The nominal price level for American HMS 1 is at $255-260/t CFR. What's more, Australian iron ore fines 62% Fe increased to $91/t CFR. Mood of the market participants improves despite problems with economic and the outbreak of coronavirus pandemic. Brazil’s Vale closed iron ore distribution and blending terminal in Malaysia because of the new restrictions amid 2019-nCoV. READ MORE... 18 March 2020 Scrap market VS Iron ore one Benelux. Purchasing prices went down in Benelux. Sellers are ready for making deals with Turkey. Offers were reduced by EUR 20-30/t. HMS 1&2 material is at $165-187/t. HMS 1&2 (75:25) is at $230-235/t FOB from Rotterdam. HMS 1&2 (80:20) is at $235-240/t FOB. Turkey. As we reported yesterday, there are some negotiations these days. All in all, the import market is silent, but some new deals are expected soon. Most of the producers and exporters are open for cooperation. Of course, the outbreak of coronavirus, global economy instability and many other pessimistic news embarrass everyone. The most essential thing is that demand is getting better and mills are ready for good offers. The daily price assessment is at $270-275/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Last week HMS 1&2 (80:20) was sold at $262-265/t CFR from Romania and Bulgaria, at $268/t CFR from the Baltic region. The same material was at $275/t CFR from the USA. Australian iron ore fines 62% Fe went up by $0.25/t to $90.25/t CFR. 250,000 t of Australian iron ore were sold on a Singaporean trading platform. Futures for the raw material also went up. One of the largest iron ore miner in Australia, BHP Group, cut down discounts in Q2 2020 contracts for low-grade iron ore. The discount for the mid-grade iron ore went up. Rebar producers’ margin decreased to $14-36/t. Probably, the situation is going to change. Demand is good enough, mills are productive, margins are low. READ MORE... 17 March 2020 Iron ore gets low Australian iron ore fines 62% Fe lost $0.5/t, so now the price is $90/t CFR. Demand is good enough, but the instability of the market, the outbreak of virus and economic challenges influence mills. Shipping and scheduling in China didn’t change because of 2019-nCoV. Mills produce steel, there are some negotiations. Nevertheless, suppliers have to low offers. Producers in Russia have an astringent pricing policy. Suppliers don’t change offers. Russian steel mills are ready to buy extra volumes of iron ore but only if they have discounts. So, there are not so many deals. Concentrate is at $70-73/t, pellets at $76-77/t. The price for Chinese iron ore fines 62% Fe is at $85/t. Vale, the largest producer of iron and nickel in the world, have problems with operations because of 2019-nCoV. The company might have to adopt contingency measures. Another way is to suspend operations. The uncertainty in the dynamic of the outbreak of coronavirus pandemic scares Vale, because in this way Vale cannot predict the impact on business, on the financial market, on the global economy. READ MORE... 17 March 2020 Scrap market can change direction like a quicksilver Turkey. Despite pessimistic scenario in the Turkish scrap market, there are some negotiations between market players. Most of the steelmakers are waiting for the direction of the price, others – cannot help but ask $265-270/t CFR for American HMS 1&2 (80:20). First two weeks of the March were silent, but nobody knows what will happen in the second part of month. Mills are unpredictable, the situation with the market is rather difficult. The daily price assessment is at $273-275/t CFR Turkey for HMS 1&2 (80:20) from the US East Coast. Russia. Today you can find stable prices only in the Central Federal District. A3 scrap is at $176-186/t. Companies in the Southern Federal District continue to lower bids for A3 delivered by railway. The regional price is at $182-192/t. Consumers in the Ural Federal District also adjust downwards scrap bids, prices are at $196-208/t. Due to the plunging ruble, the situation doesn’t seem so complicated, but the future is vagarious. READ MORE... 16 March 2020 Downtrend in the scrap market Turkey. Finally, there is a movement in the Turkish market. HMS 1&2 (80:20) was bought at $275/t CFR by an Izmir-based company in the amount of 14,000 t. This company also bought 16,000 t of shredded material at $280/t CFR and 2,000 t of bonus scrap at $285/t CFR. There was also a deal from the Baltic region. A supplier from Estonia sold HMS 1&2 (80:20) for an Izmir-based producer. The price was at $268/t CFR. The daily price assessment for HMS 1&2 (80:20) is still at $273-275/t CFR Turkey. As we can see, there is a downtrend in the Turkish market. Due to currency fluctuations and lower tags for imported material, companies announced decrease in the purchase prices, but only for local material. Anyway, demand is strong and market participants hope for the best. India. There were no deals in India in March yet because of the 2019-nCoV outbreak, global economic instability, the shortage of containers, rupee devaluation. Indian market is silent. Prices went down by $15-20/t. Shredded scrap from the UK, Europe, the USA is now at $295-300/t CFR. HMS 1&2 (80:20) from the UAE is at $280-285/t CFR. HMS 1 is at $290/t CFR. Everybody is waiting for the improvement in the global market. Russia. After some negotiations, a few deals for scrap shipments were signed. HMS 1&2 (90:10) was at $270/t CFR Marmara. A3 scrap price is at $268-270/t CFR Turkey. The price decreased by $6-8/t. Benelux. Scrap prices decreased not only in Russia. There were no deals from Benelux. Buyers and traders are caught between the devil and the deep blue sea. Economic challenges, coronavirus, currency volatility, weak business activity and growing uncertainty have an impact on all the market participants. HMS 1&2 (75:25) from Rotterdam is at $235-240/t FOB. Some deals are expected to be signed next week. Europe. Coronavirus pandemic, currency fluctuations affect the behavior of the mills in Europe. Nevertheless, German mills started aggressive purchases of the scrap. Prices went up to EUR 20/t. Unfortunately, the nearest future is not optimistic. Preventing (from the 2019-nCoV) measures influence the life of every person, every mill, every country. Per contra, Australian iron ore fines 62% gained $0.5/t. The price is $90.5/t CFR now. The seaborne market was quiet. The export of pellet and sinter in Ukraine went up by 25% to 1,5 million t in February. Domestic sales also increased to 834,000 t. READ MORE... 13 March 2020 Movement is afoot Turkey. Some new deals were closed in Turkey. HMS 1&2 (80:20) was sold at $268/t CFR, also bonus at $278/t CFR to an Izmir-based producer from Lithuania. Prices lost at least $8/t during last 10 days. HMS 1&2 (80:20) from Poland is at $273/t CFR. HMS 1&2 (80:20) from Romania was sold at $265/t CFR and the same material from Bulgaria was at $262/t CFR. HMS 1&2 (90:10) from Rostov-on-Don was sold at $270/t CFR. The daily price assessment for HMS 1&2 (80:20) went down to $273-275/t CFR Turkey from the US East Coast. 62% Fe Iron ore Index increased by $1/t to $90.10/t CFR North China. Rebar futures increased by $3.4/t. The futures on the dCE went up by $1.4/t. Tangshan billet added $1.4/t. Steelmakers have booked 320,000 t of Australian iron ore yesterday. Steel tags spiral up also because of the economic instability and due to the announcement of the WHO which declared that COVID-19 is a pandemic. READ MORE... 12 March 2020 Everything changes but Turkey’s import scrap market Turkey. Prices are the same, companies prorogue scrap purchases. Mills refuse to book scrap cargoes for April. Both sellers and buyers cooperate slowly. Even some suppliers shift their focus to domestic market. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $278-280/t CFR Turkey. Thailand. Scrap imports increased in January. Thailand imported 144,911 t of scrap. Steel manufactures raised the production of steel billet and slabs to 383,980 t at the same time. Vietnam. Offers for H2 scrap from Japan are at $250-260/t CFR Vietnam, offers for HMS 1&2 (80:20) are at $275/t CFR from the US. Hong Kong HMS 1&2 (50:50) is at $250-260/t CFR. Actually, Vietnam boosted ferrous scrap imports in the first two months of 2020. South Korea. Producers are not active in the negotiations with suppliers from Russia and the US. 10,000 t of Japanese material were bought by one of the Korean importers. HMS 2 was at $209.7/t FOB. By the way, Japanese domestic scrap market is sluggish. The nominal price for Russian A3 is at $250-260/t CFR. The price for HMS 1 from the US is at $260-265/t CFR South Korea. Japan. Kanto Tetsugen Cooperative Association closed a tender for HMS 2 material. The average price for 30,000 t of this material is at $215.9/t FAS. Domestic scrap market is weak. READ MORE... 11 March 2020 Scrap market participants are waiting for low prices Turkey. Low bids and pessimistic expectations affect the development of the procurement in Turkey. Market participants are waiting for new deals to understand the direction of the price. The daily price assessment for HMS 1&2 (80:20) from the US East Coast remains $278-280/t CFR Turkey. HMS 1&2 (80:20) from Europe is at $270/t CFR and $275/t CFR from the Baltic region. Exporters offer $280/t CFR for American scrap and $275/t for European. Turkish customers are waiting for clarification. Pakistan. There are many negative factors that have an impact on the prices of Pakistani imported scrap. Customers in Pakistan worry about the shortage of containers. Supplier from the US sold a 40,000 t bulk cargo of shredded at $297/t CFR Karachi. Shredded in containers from the UK and Europe was offered at $300-305/t CFR. HMS 1 from the Middle East is at $305/t CFR. Market participants tend to be pessimistic. The triggers are – COVID-19, economic instability and higher freight cost. Russia. Russian steel scrap market is stable. A3 scrap prices are at $227-240/t in the Ural Federal District. In the Southern Federal District A3 scrap prices went down to $196-215/t. BMZ is still forming the workable price range in the district. A3 scrap is at $196-208/t. Mills are going to low their purchase prices. READ MORE... 11 March 2020 Iron ore market - per aspera ad astra Despite the outbreak of virus and all the consequences it caused, China’s iron ore imports went up. Of course, China’s raw material and finished steel markets were hit. The volumes booked in January arrived in February in spite of slower cargo offloading at many Chinese ports. Some of those volumes which arrived in February are not still offload. 62% Fe Iron ore index is at $91.40/dmt CFR North China. Vale, Brazil’s largest producer of iron ore and nickel, sold 170,000 mt cargo of BRBF at $93.40/dmt CFR China on 62% Fe basis. Australian iron ore fines 62% Fe increased to $91/t CFR. Customers’ demand rose after the lull. China’s iron ore imports went up to 176.8 million t year-on-year in January and February. Steel inventories growth cooled down. The situation meliorates. Rebar futures rose by $5.5/t and Tangshan billet quotes - by $1.4/t. READ MORE... 10 March 2020 Scrap market - never look back Turkey. Turkish scrap market is still in serious times. COVID-19, the conflict in Syria and other factors press on global trading and have a great impact on Turkish market participants. Last week was finished with no new deals. Warehouses are filled with shipments of scrap from March. Turkish steelmakers withstand a pause in bookings. The situation in the market is unpredictable and any forecasts about the price can be too inaccurate. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $278-280/t CFR Turkey. By the way, according to the Turkish Statistical Institute, Turkey increased imports to 1.7 million t year-on-year in January 2020. This boost (37.2 %) was supported by a 17.3% surge in crude steel output. All main suppliers rose scrap shipments to Turkey. But the development in the import scrap market is not clear. Vietnam. Demand for finished steel in Vietnam is very low due to the outbreak of coronavirus and the further trading lull. Importers target lower prices as well. H2 from Japan is at $245/t CFR. Mills are waiting for discounts. Meanwhile, there were deals from Japan. H1:H2 scrap from Japan in the amount of 5, 000 t was bought at $250/t CFR Vietnam. The price assessment for HMS 1&2 (80:20) from the US is still $270-275/t CFR Vietnam, from Australia - $280/t CFR. CIS. There were no recent deals this week in Russia. The export market for Russian scrap is silent. Importers want much lower prices for scrap, but the exporters do not want to make discounts. A3 scrap from Saint Petersburg is at $278-280/t CFR Turkey, from Rostov-on-Don – at $273-275/t CFR Turkey. Europe. There were no fresh deals for Benelux scrap last 10 days. Turkish mills are on pause, waiting for the price direction. Asian countries have limited availability of containers. Transport costs doubled and many contracts were cancelled. The supplier from Europe sold 5,000-7,000 t of HMS 1&2 (80:20) at $283/t CFR Bangladesh. The price assessment for HMS 1&2 (75:25) and HMS 1&2 (80:20) from Rotterdam is at $240-245/t FOB and $245-250/t FOB. Companies in Benelux are expecting new sales. READ MORE... 06 March 2020 Everyone hopes for the best Australian iron ore fines 62% Fe are at $91.25/t CFR. Customers from China show stable demand for high-grade iron ore. After the drop in February that will certainly affect arrivals to China this month, market participants expect the situation to improve in May. Metalloinvest increased iron ore sales to 784,000 t to foreign destinations in the previous month. The main reason – higher pellet shipments sold to Europe. But total shipments reduced by 10%. In the same time the plant boosted high-grade pellets production. Sales to Russia fell by 39%. Total iron ore shipments amounted to 2.65 million t in February. Vale, mining giant in Brazil, stopped the expansion project at Mariana complex mine. Nobody knows how long the mine will be at pause. Vale announced that the shutdown was expected to be until April. This happened one week after the mayor of Catas Altas revoked the declaration of conformity. The declaration allows Vale to expand the complex. READ MORE... 06 March 2020 Not everywhere there is a lull Turkey. Market participants still are not interested in negotiations, signing contracts. They expect the prices to decline in the short term. Everybody is waiting for any movements in the finished products market. There is practically no demand but scrap suppliers can sell to alternative destinations. Due to the weak market conditions Turkish producers do not accept levels for Baltic and American HMS 1&2 (80:20) over $270/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast remains at $278-280/t CFR Turkey. The deficit in demand for both domestic and import scrap has sway over the local scrap segment. Currency fluctuations add fuel to the fire. Turkish steelmakers are waiting for new import deals. That will help everyone to understand the direction of the market. Steelmakers also released information about a decrease in their purchase prices for local scrap by TRY 20-65/t. The price depends on the mill and grade. Bangladesh. Not everywhere there is a lull. In the Bangladeshi ferrous scrap market import activity was high. COVID-2019 and freight cost did not affect the market. Even the limited availability of containers, which stuck in Chinese ports, did not come into the situation. A 30,000 t bulk cargo of HMS 1&2 (80:20) was sold to a Bangladeshi-based steelmaker at $290/t CFR from the US. The same material in containers was sold from Europe at $283/t CFR. The two bulk cargos from the Japan were contracted at $296/t CFR and $297/t CFR. Insiders reported that market participants are looking for the expansion of steelmaking capacity because that will push scrap demand up. South Korea. Bids for domestic light grade ferrous scrap are steady. The price for domestic Light A grade hasn't changed from the last week and is still at $220/mt. Some market participants think that there would be slower production because of little demand and threat of the coronavirus. READ MORE... 05 March 2020 Could it be the calm before the storm? Turkey. Nothing out of the ordinary happened over last few days in Turkey’s scrap market. Buyers and sellers suggest that there will be no activity in few weeks. Some market participants think that the market will show signs of life at the end of March. The daily price assessment is at $278-280/t CFR Turkey for HMS 1&2 (80:20). The US. The price for shredded scrap is at $282/t delivered Midwest. One of the mills in Detroit offered sideways pricing on shredded grades and plate scrap. Then two other mills did the same. It is also alleged that demand exceeds availability. Japan. The export market in Japan began to lose steam after an increase in prices that lasted for two weeks. The price for Japanese H2 is at $217/t FOB Tokyo Bay. Actually, a great impact on the market has COVID-2019. Bids are very low, suppliers just do not want to see such a fast decrease after two weeks of rising. The price for HMS 1&2 (80:20) is at $270/mt CFR East Asia. It seems now that both sellers and buyers are not interested in the deepsea market. Italy. The scrap market in Italy is tired of waiting for the price increase. Buyers and sellers hammered out a deal about the increase of the price. The price should go up at EUR 5-10/t in March. Purchasing managers have many meetings with plant managers. Everyone is distracted because of the virus now and people don't know what to buy. The latest scrap deals were closed in the beginning of February for E3 at EUR 230-235/t delivered. E8 was at EUR 240-255/t. By the way, Australian iron ore fines 62% Fe have recently increased to $90.25/t CFR. The future on the dCE gained $2.2/t. Chinese customers contracted 495,000 t of Australian and Brazilian material during the day. FMG's CEO Elizabeth Gaines expressed optimism about the whole market situation development. READ MORE... 04 March 2020 Iron ore is seeking for stability, scrap market - for an agreement on the price Turkey. Steel Still leaves a lot to be desired the activity rage in Turkey. Mills would like to see the price for premium quality material at $270/t CFR. The majority of scrap exporters don’t change their supply levels. It seems like nothing is going to change till there will be an agreement on the price or sales of longs increase. The daily price assessment for HMS 1&2 (80:20) is at $278-280/t CFR Turkey. Tokyo. Tokyo Steel cut HMS 2 price by $4.6/t. The purchase price at Kyushu works is $176/t and at Utsunomiya works is $180.6/t. Other works didn’t change the price, it is $166.7-189.9/t on March 4. The Russian government suggested exporting scrap only through exchange rate in order to make the market a bit more transparent and also to support domestic consumers. However, it was suggested in June 2019. Due to updated data, it was decided to postpone the shift to exchange trade till April 1. And the newest information is that the government can abandon the whole idea of scrap exchange trade but its not clear yet. The outbreak of COVID-19 still has an impact on iron ore and steel demand. After the prices went up with a sudden jump the day before, the raw material tags in the futures market showed a natural correction. Australian iron ore fines 62% Fe went down to $87.75/t CFR. When sellers found out that steelmakers were booking low- and –midgrade material, they lifted their offers by $2.2-4.3/t. The future of the price has no certain forecast but the situation is gradually getting better. READ MORE... 03 March 2020 Scrap market remains silent, iron ore gained ground The beginning of the first week of spring started with silence and negative anticipatory thinking. This pessimistic tendency overtook market participants. The demand is weak, Turkish stocks are filled with March cargoes. Nevertheless, there is a chance that there would be few deals from short-sea exporters. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is still $278-280/t CFR Turkey. Not only Turkish import scrap market is in serious times. Scrap prices in Russia keep going down. The price range went down from $235-259/t to $229-247/t (without 20% VAT, FCA collector) in the Ural Federal District. Bids for A3 scrap delivered by rail are at $237-238/t in the Southern Federal District. The workable level for A3 scrap receded to $215-244/t CPT mill. After a great lose of 9%, iron ore price gained $4.5/t and is $88/t CFR on March 2. A trading source told that there is no reason to be afraid of a fast raise of prices, because the market seems to be stable. 370,000 t of mid- and high- grade ore were put up for sale on Monday. But the forecast of demand is a bit pessimistic. READ MORE... 02 March 2020 Iron ore market is through dire straits Import iron ore market went down in China. The factors are the same as previously. The fast spread of COVID-19 affects global economy and some steel suppliers directly. Expectations don’t seem to be rather positive. Australian iron ore fines Fe 62% lost $1.5/t and are $83.5/t CFR. This line followed $2.4/t drop in futures on the DCE. Rebar futures on the SHFE lost $12/t. Iron ore keep going down, losing 9% over the last 4 days. While coronavirus conquers new territories, the situation in iron ore market is getting worse. S&P Global Platts assessed the 62% Fe Iron Ore Index at $83.90/dry mt CFR North China. That is down $1.50/dmt over the day. The situation could be better if mass media wasn’t whipping up public hysteria. Metalloinvest, one of the biggest metal manufacturer in Russia, is going to use a fine screening technology in 2020. The company is going to manufacture 3.7 million t of iron ore concentrate with 67% Fe content. The process includes several stages, the first one started in September 2019. The end of the project is scheduled for 2022. READ MORE... 02 March 2020 The lull in the imported scrap market is expected to continue Turkey. As it was expected, there is a temporary drop in the activity of Turkish scrap market. Due to political instability and COVID-19 companies are afraid to conclude any contracts. There are rare negotiations with short-sea suppliers. Bids from Turkish buyers are very low. HMS 1&2 (80:20) is at $260-265/t CFR for Romanian and Bulgarian. Market players told that some companies accept American HMS 1&2 (80:20) at $275/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is $278-280/t CFR Turkey. Vietnam. An infamous virus had an impact on the trading activity in Vietnam. Buyers prefer material from Japan, because it has the best prices. Also Japanese sellers make discounts. Suppliers from Japan offer H2 at $255-260/t CFR Vietnam. Compared to last week it is up $10/t. Customers refuse to accept higher prices. They are bidding for H2 at $250/t CFR. There were deals that were done at $250-251/t CFR. Japanese H1:H2 scrap is at $252/t CFR. Prices for the American HMS 1&2 (80:20) are at $270-280/t CFR in Vietnam. Indonesian suppliers received offers for shredded scrap in containers from the UK at $315-317/t CFR and from the US at $297/t CFR. Taiwan. South Korea. Demand in the Far East is weak. Containerized scrap from the US to Taiwan went up with price. HMS 1&2 (80:20) is at $250/t CFR Taiwan. Export merchants from Japan are very interested in the Taiwanese market. HMS 1&2 (50:50) from Japan is at $250-260/t Taiwan. As we can see, the price had raised from the last week, when it was at $245/t CFR. The price for Russian A3 moved to $250-260/t CFR. The price for the US HMS 1 is at $260-265/t CFR now. There were no recent contracts yet. Russia. Demand is not high; the export market for Russian steel scrap has a calm period. This week Turkish mills are not active in the scrap market, there were no recent deals, because they have booked enough scrap for March delivery. The price for nominal A3 from Rostov-on-Don is at $280/t CFR. The prices from Rostov-on-Don to Turkey are at $275/t CFR. Russian A3 scrap is at $250-260/t CFR South Korea. It is +$8/t over the last week. Buyers still prefer to wait rather than to have some deals. Benelux. The last winter month ended very quiet in Benelux export scrap market. All sellers and buyers are waiting for the new price direction. HMS 1&2 (75:25) from Rotterdam is at $245-250/t FOB. HMS 1&2 (80:20) is at $250-255/t FOB. Freight rate went up because of the lack of containers. Shredded scrap in containers from Europe to India and Pakistan prices at $310-315/t CFR. An insider told that the spread of COVID-19 influences the market, so there could be another price decrease. READ MORE... 28 February 2020 Turkey in standby mode, scrap import prices went up in India Turkey. Turkish ferrous scrap market remains silent. There are no negotiations, new deals. Sellers and buyers are waiting for a certain direction of the price. A trading source told that sellers from Europe and the US asked $280/t CFR for premium quality HMS 1&2 (80:20), but this is unacceptable. The daily price assessment for HMS 1&2 (80:20) from the US East Coast lost $3/t and is $280/t CFR now. India. Coronavirus outbreak, uncertainties in the global market and the growing freight rates bothers market participants in India. During last two weeks Indian ferrous scrap import increased because of the raised freight cost. It increased because of the shortage of containers. Some buyers prefer to buy domestic HMS 1&2 (80:20) which is at $334/t (INR 24,000/t; 1 INR = $0,0139). An Indian steelmaker bought 25,000 t of shredded scrap at $310/t CFR and 5,000 t of bonus at $315/t CFR Kandla port from the US. Another dealer from that region sold 1,000 t of containerized shredded scrap at $322/t CFR Mundra port. Shredded scrap from the US is at $315-320/t CFR, from Europe is at $310-315/t CFR. HMS 1&2 (80:20) from the Middle East is at $300-305/t CFR. Market participants are not optimistic for the beginning of the next month. Europe. One of the largest global scrap recyclers, Scholz Group, released important information about the company. Scholz Group will be led by a new CEO. Rafael Suchan is the new executive officer of the company and, at the same time, he will be CEO of the Chinese parent company. He told that this step is of great significance, cause this way the company can develop. Japan. The purchase price for HMS 2 scrap in Tokyo went down by $4,5/t and is now $177,4/t. South Korea. After mills announced a poor forecast for the second quarter, domestic prices for lightgrade ferrous scrap went down in South Korea. Domestic light A grade, which is the same as Japanese H2 material, was at $214/mt on Wednesday. There is a possibility that production in South Korea can be reduced again. Australian iron ore lost $2/t. So, iron ore fines 62% Fe are at $85/t CFR now. The prices went down at most because of the anti-smog restrictions in Tangshan and Handan cities. The other factor is 2019-nCov which influences the market. Arcelor Mittal Kryvyi Rih is upgrading the sintering machines. Some machines have been recently upgraded. AMKR plans to finish the work on machines by late 2021. The investments in this project tot up to $170 million. READ MORE... 27 February 2020 Coronavirus has an impact on every country, except Malaysia The situation of uncertainty is over Turkey now. The latest sale was done on Friday. Also there was a scrap deal with a supplier from Denmark last week. The supplier sold 16,000 t of HMS 1&2 (80:20) at $280/t CFR, 12,500 t of shredded material at $285/t CFR, 2,500 t of bonus scrap at $290/t CFR and 1,000 t of busheling at $295/t CFR. The direction of the price is still unclear. Participants of the Turkish ferrous scrap market are waiting for customer’s price ideas. Sales have to move, because it would prevent prices from falling again. The daily price assessment for HMS 1&2 (80:20) from the US East Coast remains at $280-283/t CFR Turkey. Due to the fast spread of 2019-nCov all over the world, iron ore market has a negative dynamic. During the last 7 days there were many new cases in Italy and South Korea. Coronavirus will probably have an impact on the global economy too. Yesterday iron ore lost $3/t. Australian iron ore fines 62% Fe are at $87/t CFR. What’s more, CISA member mills issued steel production and stocks data. After a 40% jump in the first part of the month, inventories added 15.3% over 10 days. A trader in Zhejiang has told that these huge stocks can push steel prices down. While all countries are worried about coronavirus, Malaysia is considerate of low-quality scrap. Malaysia announced new regulations on scrap imports. As from now, exporters of scrap with HS codes 7204 (ferrous waste and scrap), 7404 (copper waste and scrap), and 7602 (aluminum waste and scrap), have to provide both a certificate for electronic-waste content and a depollution certificate. These rules should protect the country from inflow of low quality waste. CIS iron ore exporters lowered their prices by $4/t on average. They are concerned about the weakening of the global demand because of the 2019-nCov. Their prices are the same as their competitors, but the material is better. The biggest CIS iron ore producers have a break now; they plan to resume active sales in late March – April. READ MORE... 26 February 2020 Turkish scrap market is silent, iron ore lost $1/t After active negotiations and purchases last week, Turkish scrap market remains silent. Nobody change prices, there were no bookings this week. Of course, some sellers still continue negotiations. American and Baltic suppliers ask $280-285/t CFR for HMS 1&2 (80:20). The daily price assessment for HMS 1&2 (80:20) is $280-283/t CFR. Turkish domestic purchase prices for ferrous scrap are raised because of the national currency. Turkish lira went down against the US dollar. Turkish companies pursued two aims and in order to achieve them, they jack up purchase prices by $4-14/t (at the current exchange rate; that is TRY 45-100/t). The aims were – to make compensation for the impact of currency fluctuations and to give a boost to the inflow of local material. It is important that quotes of imported scrap increased. It can be an overriding factor for manufactures. During the last week prices for European scrap added $6-7/t, for American - $4-5/t. The latest changes in purchase prices for domestic material of Isdemir and Erdemir changed on February 20. Australian iron ore fines 62% Fe were $91/t CFR, on Tuesday iron ore lost another $1/t. This happened due to negative sentiments. Prices cannot stay high. There is the other negative factor – coronavirus. 2019-nCov spread in South Korea and there is a possibility that it may impact steel demand there. However, the decrease will not last long. The situation will improve in March. READ MORE... 25 February 2020 Import scrap market is silent, 2019-nCov have a great impact on the iron ore market After active purchases in Turkey, import scrap market is silent. Turkish mills turn their attention to finished steel sales, so negotiations about scrap stalled. HMS 1&2 (80:20) from the US and the Baltic region was at $280-285/t CFR. Participants of the market are waiting for the definite price trend. There were some transactions in Turkey at the end of last week. For American HMS 1&2 (80:20) it was at $280/t CFR and for European HMS 1&2 (80:20) was at $276-277/t CFR. The daily price assessment for HMS 1&2 (80:20) from the US East Coast is at $280-283/t CFR Turkey. At the beginning of the week news about the 2019-nCov influenced the iron ore market. Iron ore fines 62% Fe from Australia were $0.5/t lower than at the end of the last week. That means Australian offers were at $91/t CFR. Because of the outbreaks of the virus in Italy, Iran and South Korea, sentiments became downward. This can also affect the global economy. But a major trader in Beijing told that iron ore demand remains healthy in China. Nevertheless, Chinese government is going to support steel demand in March. Sentiments got better in China’s steel market. Tangshan billet quotes went up by RMB $7/t to RMB $440/t EXW. Russian mills have started to reconsider their scrap bids. Most of the mills in the Ural Federal District downgraded scrap bids. As NLMK-Ural is not interested in bookings in the free market, the company made a bigger negative adjustment. A3 cost $235-259/t (RUB 15,000-16,500/t; $1=63.74) versus $252-259/t (RUB 16,000-16,500/t). This downtrend continued in the Central Federal District. Many mills have reduced their bids. The workable price is formed by BMZ and some mills from neighborhood now. The price for A3 is at $223-227/t (RUB 14,200-14,500/t) versus $236/t (RUB 15,000/t) one week earlier. The price for A3 in the Southern Federal District fell to $237-238/t (RUB 15,100-15,200). The regional price for A3 delivered by trucks was $213-244/t (RUB 13,700-15,550/t) CPT mill. Ferrexpo announced its production plan. In 2020 it will have higher output and better quality of the products. The company is going to produce 11.5 million t of pellets in 2020. Ferrexpo plans to make 11.08 million t of pellets Fe 65%. Italian scrap market is also silent. Some prices were expected to go up in March but 2019-nCov changed the plans. Expecting prices to go up by EUR 5-10/t, there were no scrap collectors interested in sales. In the first half of February the deals were closed at EUR 230-235/t delivered for E3 and EUR 245-252 delivered for E8. E40 contracts were closed at EUR 240-255/t delivered. The outbreak of coronavirus in Italy can have a negative impact on scrap prices. Vale announced resumption of the stopped production capacity after January 2019 when the Brumadinho dam rupture. The company is still at the beginning of the process, waiting for the operation approval at the end of March. Vale is on the watch for resuming the remaining interrupted capacity of ~40 million t. That means +15 million t in 2020 and +25 million t in 2021. READ MORE... 21 February 2020 Turkey buys abroad, India prefers local and SIMS took a loss Turkey purchased some volumes of ferrous scrap from the Azov-Black Sea basin in spite of improvement in prices. Turkish companies had some negotiations and after A3 material from Russia was traded at $277/t CFR Karadeniz. HMS 1&2 (90:10) was traded at $283/t CFR Marmara. Then scrap from Rostov-on-Don lapses at $269/t CFR Karadeniz. Also Bulgaria sold ∼3.200 t of HMS 1&2 (75:25) at $268.5/t CFR Marmara. Turkey continues negotiations but there are no other deals. American HMS 1&2 (80:20) reached $280/t CFR. The same grade from Europe is $275/t CFR. Daily price assessment for HMS 1&2 (80:20) stays at $279-281/t CFR Turkey. Because of the lack of containers prices for imported scrap went up in India. Many containers were stuck in Chinese ports. Freight rate increased up to $12-15/t. So buyers had to limit purchases from abroad. A mixed cargo of HMS 1&2 (80:20) was booked at $280-285/t CFR Mundra port for March shipment. Indian buyers prefer local scrap. Indian HMS 1&2 (80:20) is at INR 24.000/t ($333/t). Import price which includes charges and clearance fees is $330/t CFR. The cost for British, European and South American shredded scrap was $15-20/t above the level that was 1 week ago. British P&S reached $310-315/t CFR. There were no changes in HMS 1&2 (80:20) from the Middle East. It was available at $275-280/t CFR. SIMS declared about an EBIT loss of $95 million. The main reasons - rough competition and scrap price crash. Sales volumes lost 9.6% to 4.474 million t.The company had a cost reduction programme. SIMS expects to be within the range of $40-60 million in 2020. But there are some risks which include the assertive competitor, the recovery of the Turkish economy and the impact of the 2019-nCov. READ MORE... 20 February 2020 Turkish scrap prices increase while iron ore remains stable The EU and Baltic region showed the information about a number of contracts. The Marmara-based company bought scrap from the Baltic region. HMS 1&2 (80:20) was booked at $279/t CFR from Finland. A mixed batch was bought from Sweden, where HMS 1&2 (80:20) had the same price. This week the same material was booked from Russia at $275/t CFR. The highest prices for the scrap were at $270-272/t CFR. The daily price assessment for HMS 1&2 (80:20) from US East Coast is $279-281/t CFR Turkey. The domestic ferrous scrap market raised prices in Turkey. Prices for US scrap added ∼$15-18/t. For Baltic scrap - more than $20/t. Kardemir sold more than 45,000 t. The company keeps its purchase prices. The iron ore market has calm days. Suppliers don't low their offers. Iron ore fines 62% Fe stayed at $89,5/t CFR in Australia. Mills' margin are low, so they are going to book large cargoes. Iron ore suppliers have stable offers. They are supported by futures adding RMB 6/t ($0,9/t) in May contracts on the dCE. FMG profit surged in H1 FY2020. FMG's underlying EBITDA and underlying net profit increase of 159% and 283% to $4.228 billion and $2.464 billion t in July - December 2019. The profitability of the company rose to $39.9/t from $11/t in that period. The company sold 105.2 million t and 88.6 million t of iron ore in H1 FY2020. This is 4% and 7% higher in comparison. The average realized iron ore price jumped by 73% to $80.36/t. The production of steel grows with 996 million tonnes of crude steel produced in China. The increase is 8.3%. FMG kept shipments guidance for the FY2020 at 170-175 million t, despite its robust performance in the first half of the fiscal. The sales are expected to be at the upper end of the range. READ MORE... 19 February 2020 Careful customers drop prices for iron ore Sea iron ore market declines on Tuesday as buyers are aloof from recent price increases. The 62% Fe iron ore index at $ 89.15 /mt CFR in northern China fell by 95 cents / day per day on Tuesday. March TSI swap for the first month fell by 75 cents / day per day at a price of $ 87 / day on Tuesday. After IODEX rebounded to a level similar to January, market participants became more cautious in their trading strategies. There are still many offers coming from the secondary market, but buyers, especially end users, chose to wait until the market showed a clearer signal. Western Australia's BHP iron ore company continued to produce 273 million tons - 286 million tons from July to June. This is in line with Rio Tinto’s iron ore recommendations for 2020, which were reduced by 6–9 million tons on Monday due to infrastructure destructions. There are also drop in Australian offers due to Cyclone Damien. Meanwhile, a large producer also expects pressure for iron ore because steel reserves will reach a top till mid-March and profitability will decline. READ MORE... 19 February 2020 Turkish scrap market gain momentum Prices for scrap imports to Turkey reached $ 280 / mt on Tuesday amid new sales in the United States. Turkey imports of HMS ½ (80:20) at $ 280 / t CFR on Tuesday, to $ 3.75 /mt from Monday. Iskenderun steel mill bought from US the cargo consisting of HMS ½ (90:10) at $ 282.50 per ton, shredded at $ 285 per ton, and a bonus at a price of $ 290 per ton. The deal completes the price increase of almost $ 30 per ton over the past two weeks, as the market was initially rebalanced and then further supported by demand for products. Another buyer announced a firm offer by the US trader at a price of $ 282 per ton, while the plant intended to complete a deep-sea reservation at $ 280 / ton CFR for HMS 1/2 (80:20). Izmir mill bought from Baltic region the cargo at $ 276 /mt for HMS 1/2 (80:20) and $ 286 /mt for a bonus on Friday, the same day and at the same price from same region there was a sale to a Marmara mill. While a small premium from deep-sea HMS 1/2 (80:20) for short sea deals A3 CFR Turkey was expecting stronger growth for deep-sea scrap prices on Monday, the premium has now expanded. Moreover , there were two sales from Bulgaria at $ 267 /mt and CFR $ 268 /mt to the Marmara mill. Some market participants still expected the market to be somewhat more stable during the week, but believe that growth potential is limited if the product market does not show more visible signs of growth in the coming weeks. READ MORE... 18 February 2020 Upward prices in Turkish scrap market Turkish ferrous scrap import market continues to grow in value. A customer agreed to a higher price for Baltic material. Marmara mill continues active actions on the market, buying materials from different countries. The latest deal was with Latvian scrap seller for March shipment of HMS1/2 (80:20) at $276/t CFR Turkey and bonus material at $286/t CFR. Turkish buyers reserved significant tons of scrap for March shipments, but demand for it did not dropped. Seel manufacturers are trying to buy more materials from Europe or the Baltic region, while materials from the Azov-Black Sea basin are also in demand. Materials from Europe or the Baltic region as well as from Azov-Black Sea basin are in high demand of Turkish steel manufacturers. As a result prices for this type of cargo moving upper steadily. Meanwhile, quotes for ferrous scrap in the domestic market of Turkey are also growing amid strong demand for finished products and rising prices for imported cargo. Most companies decided to increase the purchase prices for local materials against the background of a similar trend in the import segment. Steel producers want to set domestic scrap prices closer to import prices. Adequate sales in the finished goods segment and a weak lira exchange rate provided additional support for domestic scrap prices READ MORE... 18 February 2020 Increase of iron ore market Iron ore prices rose on Monday amid rising futures as a result of a reduction in Rio Tinto supply forecasts. Active buying activity also supported quotes. Australian iron ore fines 62% Fe gained $1.75/t, reaching $90/t CFR for the first time this month. Raw materials rose by $ 1.6 / ton in DCE's most-traded May contracts after Rio Tinto, the largest iron ore producer in Australia, announced its supply reduction for 2020 to 324-334 million, due to the damage caused by Cyclone Damien to its Pilbara network operations. The upward trend given by the news feed was reinforced by the very low stocks of metallurgists and supply collapse caused by the epidemic in China. Demand was sufficient both in the seaborne market and in ports. On Monday, 510,000 tons were sold at trading floors, with preference being given to high-quality ore, despite low margins. Prices at ports increased by $0.7-2.1/t . Meanwhile, Tangshan billet price deopped by as much as $ 43 /t due to oversupply in China’s steel market. READ MORE... 17 February 2020 Seaborne iron ore stable with small reserves in ports The 62% Fe Iron Ore Index at $88.35/dry mt CFR North China Friday, up $0.15/dmt on the day. The front-month March TSI swap was unchanged at $86.25/dmt Friday. Lower port stocks during the week due to replenishment activities and lower arrivals supported seaborne prices that remained stable on Friday. Total reserves of the port decreased by almost 0.9 million tons with an enlarged daily export volumes, so some traders expected resale at ports in the coming months. Exports from Brazil and Australia have declined over the last few weeks, and since the cyclone affected Australia last week, there are some opportunities for port prices to rise. Platts 62% Fe iron ore port stock index, or IOPEX North China, was assessed at $85.20/dmt FOT Friday, unchanged on the day. IOPEX East added Yuan 1/ wmt on the day, and assessed at $83.55/dmt on an import-parity basis. After recent drop in steel demand in some industries, some market sources expected fines to be reduced. While the quality of Jimblebar fines improves and Fe reaches 60%, discounts are reduced even more due to a general drop in demand. Yandi's fines discount is likely to narrow even further, as it is a cheaper alternative to Brazil's low-alumina fines due to restrictions on other low-alumina alternatives. There is currently a shortage of alumina supplies due to the Brazilian rainy season which is affecting Chinese domestic concentrates as well as the outbreak of coronavirus. Domestic Chinese miners did not resume production and transportation restrictions make it tough to receive concentrated cargo. Several other end users in Hebei were largely intact by the current lack of domestic supplies due to a lack of customer interest. Seaborne lumpsum demand continued to be supported amid higher lumpsum premiums at the port compared. Rio Tinto is known to have completed a tender to strip the fine Pilbara Blend and lump Pilbara Blend in March and April with a premium of $ 1.50 per tonne compared to the Platts index of 62% per month and a premium of $0.30 per ton per month loading 62% of the Platts index and lump premium, respectively. READ MORE... 17 February 2020 Deepsea orders hold turkish scrap prices solidly Uninterrupted purchases by Turkish steel mills led to an increase in import scrap prices on Friday to the highest price in February. Turkey imports of premium heavy melting scrap ½ (80:20) at $274/mt CFR Friday, 50 cents/ mt hire on the day. On Thursday three more deals were made in deep-sea markets which slightly increased import prices, as the current level encouraged processors to sell their supplies in March. Again Marmara mill on Thursday purchased 18.000 mt HMS ½ (80:20) from UK. The same day an American recycler sold to the same Marmara steel mill cargo including HMS ½ (80:20) at $ 275 per ton, shredded at $ 280 per ton and a premium of $ 285 per ton CFR. It was reported that one Baltic processor sold the goods to the Izmir mill with HMS ½ (80:20) at $ 274 /mt and a premium of $ 284 /mt CFR. Despite the fact that the last trading session did not change much from day to day, most market players saw a further increase in prices. Recent short-sea sales have added cautious bullish signals to the market amid continued purchasing interest. One processor from the short sea sold cargo of A3 for $ 269/mt CFR Samsun, narrowing the premium between deep sea and short sea to $ 5 /mt CFR - well below the usual spread of about $ 10/mt CFR between the two numbers. The last time the spread was so narrow in mid-November 2019 followed by a strong bullish price increase in late November and December. READ MORE... 14 February 2020 Scrap market sentiments Baltic scrap supplier sold to Turkish steel producer from Izmir region HMS ½ (80:20) at $273.5/t CFR and bonus grade at $283.5/t CFR. That increased prices by $0.50/t in comparison with the previous deal from this region. Marmara mill bought from Bulgaria small quantities of HMS ½ (80:20) at 255-260 USD / t CFR. Moreover, the last deal for short sea cargo to Turkey of HMS ½ (75:25) was at $ 240 per ton CFR from Israel at the beginning of the week. HMS ½ (80:20) from US East Coast is traded at a price of $271-275/t CFR Turkey, which is $2 higher the day ago. American scrap sellers provide much lower prices to Taiwanese steel producers amid negative market spirit in the region. US HMS ½ (80:20) in containers quoted down to $217-220/t CFR on February 13, that is $10-13 / t lower then last week. The prices for Russian HMS ½ material remain stable at $247/t CFR South Korea. Nominal quotes for US HMS 1 to South Korea keep at $255-261/t CFR. READ MORE... 14 February 2020 Sluggish steel demand hold iron ore rise The price of iron ore stabilized after receiving $ 6 per ton in two days. The rapid growth of finished steel reserves led to sluggish seaborne demand for raw materials and limited its further growth. Australian iron ore offerings with 62% Fe on Thursday remained at $ 88 / t CFR, although DCE futures continued to grow at a slower pace, adding $ 0.7 / t. The main reason for the reduction in steel production was the cold demand for finished steel products caused by the coronavirus outbreak, which is expected to last until April. Metallurgists ordered only small batches from ports for urgent needs. Due to the improvement in trade this week, the reserves of the iron ore in ports were reduced for the first time since January by 0.45 million tons to 130.65 million tons. This allowed traders to increase their bids by $ 0.7 - $3.6 / ton during the day. READ MORE... 13 February 2020 Supporting local production, Indonesia magnifies availability of scrap The Indonesian government plans to enhance the availability of raw materials, in particular ferrous scrap, by simplifying import rules to support local steel producers and reducing imports of semi-finished and finished steel products. Given growing imports of steel along with low utilization rates of local steel mills (about 40%), Indonesian authorities plan to simplify customs rules for import. The new measure will remove scrap from the government's list of hazardous and toxic wastes, potentially reducing the number of permits required for importers. It is estimated that Indonesia imports over 5 million tons of scrap metal, loosening the rules. In 2019, scrap imports in Indonesia reached around 2.67 million t. These measures could also help Indonesia to raise the local production of steel billet and diminish its imports.Last year, Indonesia raised its billet imports by 24.4% to 2.55 million tons. However, representatives of the metallurgical sector are quite skeptical that the new rules are hardly influence on the import of billets in the short term. The Ministry of Commerce of Indonesia has introduced new restrictions on the import of scrap from November 23, banning the transshipment of scrap, which means only direct deliveries from the country of origin to Indonesia without any stops between them. They also restricted the discharge of scrap, allowing only eight ports to import scrap, namely: Tanjung Priok, Tanjung Emas, Tanjung Perak, Sukarno Hatta, Belawan, Batu Ampar, Teluk Lamong and Peacock. Nevertheless, it is doubtful that the restrictions will be removed very quickly. READ MORE... 13 February 2020 Vale writes off its upstream dam Brazilian mining giant Vale (SA) in order to reduce the company's risk is moving with the decommissioning of all its upstream mining tailing dams. According to the company’s official statement, it is currently in the process of draining the Fernandinho Dam, which is scheduled to be completed in 2020. The first destructed unit was Dam 8B, where work was completed in December 2019 and included the removal of the lifting structure in which the sediments were located, and the construction of a central rock channel to ensure the natural outflow of surface water. The company also completed the construction of a protective structure for the Sul Superior Dam, Barao de Kokais. Similar structures for the B3 / B4 and Forkillas dams will be built in the first half of 2020. In addition, by June 2020, Vale plans to complete an in-depth technical analysis of all its dams, which began after the dam collapsed in Brumadinho. The whole net effect on the above actions is $671 million that will be opened in the Q4 2019 earnings report. READ MORE... 12 February 2020 Turkish scrap strengthening on domestic market On Tuesday import prices for ferrous scrap rose further amid renewed stocks in the domestic market of Turkey. Turkey imported of premium HMS ½ (80:20) at $267/mt CFR Tuesday, up $3/mt on the day. While no new deals were reported, factories showed significant interest in purchasing March materials. Whereas rebar prices in the domestic markets had fallen over the past few weeks, buying activity related to replenishment had led to some volume sales and rose rebar prices to $ 417-420 / ton ExW on Tuesday. Some steel producers closed their domestic rebar sales watching continuing demand. It also prompted some recyclers to request above $ 270 / t CFR for heavy melting scrap grade amid this new replenishment activity. However, many industry players were more cautious about further price support based mainly on replenishment after the benchmark price rose $ 15 / t per week. The current price range of around $ 265 / t CFR is viewed as “a balance.” READ MORE... 12 February 2020 China logistics recovery impacts on iron ore market Employees return to working places after a long rest. The Chinese government announces the opening of previously blocked roads and highways. The outbreak of coronavirus is weakening. All these factors positively affect the market. Iron ore prices rose on Tuesday amid improved logistics situation and the weakening economic impact of the coronavirus outbreak. The 62% Fe Iron Ore Index was at $85.55/dry mt CFR North China, up $3.85/dmt on the day. The front-month March TSI swap was up $3.7/ dmt on the day at $83.65/dmt. Steel mills could not buy iron ore since last week due to lack of manpower and obstacle truck delivery. Sign of improvement of situation is the maintenance of production of several still mills. Moreover news about decreasing numbers of new infected coronavirus cases lifted market mood. Yesterday China issued the first party of local bonds that will drive the increase rate of infrastructure investment to lift tightly. Although industrial sources were careful believing the rise was urged by speculations as well. Australian iron ore fines were more preferred by the buyers on the ports due to the cost advantage. 62% Fe have lifted by $3.75/t to $85.75/t CFR since Monday after an RMB 24/t ($3.4/t) rise in May contracts on the DCE. Purchasing performance in the seaborne market improved essentially from the previous day, with 460,000 t of the raw material sold on platforms. READ MORE... 11 February 2020 Iron ore slide on flabby China demand The seaborne iron ore market loosen Monday, as demand from Chinese market participants remained sluggish. The downgrading of former tropical cyclone Damien also helped weaken supply concerns. The 62% Fe Iron Ore Index at $81.70/dry mt CFR North China Monday, down $0.95/dmt on the day. The front-month March TSI swap was down $0.9/dmt from last Friday at $79.95/dmt Monday. Port Hedland re-opened at 12:30 pm local time on February 8. The Port of Dampier was also estimated to re-open all anchorages at 4 pm local time Monday. Market participants analyzed that the total impact on the supply side would be about two days' delay in cargo loading from the two ports. Any supply disruptions that Cyclone Damien could have brought were already included in price levels last week. Port operations are quickly resuming which calms the anxious feelings of some market participants. Despite more market participants returning to work on Monday, bids and offers in the seaborne iron ore market were poor. Most Chinese steel mills require their migrant workers to be self-quarantined for two weeks before returning to work, which has postponed the restart time for some mills. The Marcharrival spot iron ore purchase was discontinued to avoid further storage and cash flow pressures, although there was no plan to reduce steel production right now. READ MORE... 11 February 2020 Turkish import scrap continues strong recovery Import prices for Turkish ferrous scrap increased further Monday, continuing their recovery from the bottom observed at the beginning of last week amid a flurry of reported trades. Turkey imported of premium heavy melting scrap ½ (80:20) at $264/mt CFR Monday, up $4/mt on the day. Marmara steelmaker bought from US at $264/mt for HMS 1/2 (80:20), $269/mt for shredded and $274/mt CFR for bonus. The same Marmara mill also booked two clips with a UK trader. The first was a 16,000 mt cargo with HMS 1/2 (80:20) at $255/mt and shred at $260/mt CFR. The second one was a 22,000 mt cargo with HMS ½ (80:20) at $260/mt and shred at $265/mt. Another Marmara mill booked a 30,000 mt cargo from a US merchant, consisting of 18,000 mt HMS 1/2 (80:20) at $260/mt, 8,000 mt shred at $265/mt and 4,000 mt bonus at $270/mt CFR. Finally, a sale from one trader to an Iskenderun steelmaker also have been concluded at the end of last week, consisting of 20,000 –25,000 mt (80:20) at $252/mt, much to the surprise of many market players who had supposed a higher rentable sales price. Since the swift rebound from the low $250s-levels at the beginning of last week, a majority of industry players had turned more bullish for the short- and even medium-term. Some US and Baltic sellers now target $270/mt CFR as a new sales price. Moreover there was scope for another $5-$10/mt up. The quantity of upside was still largely depend on the price extension and sales volumes of their finished products. Export rebar out of Turkey was still workable at $415/mt FOB as a result it was too early to speak about $270/mt CFR price for heavy melting scrap. Potentially stronger product demand from Asian outlets in the weaker presence of China, which was seen as a bullish signal last week, had so far also not materialized. Moreover there was no abolishment due to the coronavirus from Chinese producers. READ MORE... 10 February 2020 Australian Ports closures lead to cautious iron ore market Western Australia's iron ore port of Dampier and Port Hedland were closed on Friday due to coming Tropical Cyclone Damien. As a results, the seaborne iron ore market limped up Friday supported by continuous concerns on supply from Australia The 62% Fe Iron Ore Index at $82.65/dry mt CFR North China Friday, up 50 cents/dmt on the day. The front-month March TSI swap was up 60 cents/dmt day on day at $80.85/dmt Friday. The bearish prospect on iron ore demand continued, which displacement some of the pressure from supply tightness. The mills were facing rising pressure from downstream sectors, but they would not resume working till middle March. However, since the production of steel mills would be used gradually, most steel capacity was expected to keep running in near-term. READ MORE... 10 February 2020 Slight recovery of Turkish scrap market The price for Turkish imports of ferrous scrap insensible recovering as more trading supported the current market level. Turkish imports of premium heavy melting scrap ½ (80:20) at $260/mt CFR Friday, up $4.50/mt day on day. One Benelux-based recycler sold a cargo to an Iskenderun mill consisting of 15,000 mt of HMS 1/2 (75:25), 10,000 mt of shred and 7,500 mt of bonus for early March shipment in a deal done Thursday. The same mill on Wednesday bought from a major US recycler at about the same price level. The latest confirmed trade also indicates small market rehabilitation after a steep fall at the beginning of the week, with many players considering a $251/mt booking from the Baltic as the "bottom" of the latest price trend, with the short-term expectations for a stable to slightly stronger market. This was partly due to stronger reported buying interest and inquiries received from mills on Friday, coupled with potential for price support on the rebar steel side. Offer levels from Turkish mills for rebar remained at $415-$420/mt FOB, but there will be more bids in the coming days on the back of demand from outlets that are usually supplied by China and might now turn to Turkish producers. The latest price support also comes amid strong scrap demand from other countries in the Middle East and North Africa, with Egypt having bought just 40,000 mt on Thursday, as well as robust continental European demand. As mills in northwestern Europe are displaying strong buying interest and offering better prices, recyclers are looking to maximize sales into their domestic markets. READ MORE... 07 February 2020 Australian cyclone may hit supplies of iron ore Tropical Cyclone Damien of 4 categories of cyclones thoroughly entrenched off the northern coast of Western Australia. Thursday, cyclone caused market participants concern about possible loading problems from West Australia. It can lead to a possible flooding of the inland areas around the mining areas, although it is not as powerful as the Veronica cyclone. However, some participants were unsure whether the impact on supply-side would net off the falling demand from Chinese steel mills. With more Chinese steel mills planning to bring forward blast furnace maintenance to the first quarter or voluntarily shutting down the running capacity, the demand situation in China remained dark and that should cloud any existing supply concerns. The restrictions in truck delivery in China due to the outbreak of coronavirus haven't eased, which have already pushed several steel mills to cut the output in February. Many roads and highways are blocked off that is lead to double time for raw materials delivery by truck. As a result transportation costs for inner land steel mills are enlarged severely. It is expected the discount for iron ore fines product with lower Fe content to continue diminution amid weak margins under uncertain construction resumption. READ MORE... 07 February 2020 Scrap market under pressure The decrease in Turkish scrap prices came to a halt on Thursday as a US February shipment booking pulled up prices. Turkish imports of premium heavy melting scrap 1/2 (80:20) at $255.50/mt CFR Thursday, up $3.50 from Wednesday. Scrap prices imported into Turkey have not seen a perceptible upward movement since mid-December last year, but following a March shipment deal done on Tuesday at $251/mt, a US deal at $260/mt for the heavy melting scrap grade led to a return in prices. One US-origin trade was booked by an Iskenderun mill Wednesday, consisting of 21,000 mt HMS 1/2 (80:20) at $260/mt, 3,000 mt shred at $265/mt and 6,000 mt bonus at $270/mt CFR for February shipment. Meanwhile, a mill in Egypt booked 40,000 mt HMS 1/2 (80:20) at be $249/ mt CIF Damietta from a UK recycler on Thursday, after the mill had issued a tender on Wednesday. This followed a mixed cargo booking from another UK trader at $268/mt a week ago, showing continued market pressure across scrap markets. Domestic prices for light scrap in southern Vietnam dropped as mills fixed bids in accordance with downfall import offers. Bids for light grade 1-3 mm thick scrap were ranging from Dong 6,000-6,100/kg ($258-262/mt), with the midpoint down Dong 200/kg ($9/kg) from a week ago. Seaborne offers for Japanese H2 material to southern Vietnam were heard down $16/mt from a week ago to $255/mt CFR Thursday, leaving a bearish tone in the market. Bids for domestic Light A grade, similar to Japanese H2, in a range at Won 270,000-280,000/mt ($229-$237/ mt), with the midpoint down Won 3,500/ mt delivered to South Korean mills in southern cities. READ MORE... 06 February 2020 Feeble steel forecast weighs on iron ore market The seaborne iron ore market turned bearish on Wednesday amid a gloomy steel outlook, despite an impending Australia cyclone potentially limiting iron ore supply. The 62% Fe Iron Ore Index at $80.55/dry mt CFR North China Wednesday, down $2.50/dmt on the day. The front-month March TSI swap was down $2.20/dmt on the day at $78.60/dmt Wednesday. After a flurry of trades both in the seaborne and port side markets, liquidity depreciated as mills adopted a wait-and-see approach towards restocking. The growing stock level of steel products and the yet-to-recover end-user demand has pressured mills, as some regions in China were considering further holiday extensions or flexible working schemes due to the coronavirus outbreak. Mills are not actively seeking to restock again to avoid any price risks in the market. Higher grade products including lump and pellet are expected to face similar downside pressure as iron ore fines. READ MORE... 06 February 2020 Japan scrap fall on low markets Japan’s scrap export market saw heavy debility as prices tumbled $16/mt week on week, amid continued poor demand from both overseas and local markets. Japanese H2 FOB Tokyo Bay price at Yen 23,000/mt ($210/mt) Wednesday, down Yen 1,800/mt from a week ago. South Korean buyers concluded FOB basis deals at Yen 24,000/ mt earlier on Monday, but prices continued falling. Taiwanese mills offered as low as $248/mt CFR for H1:H2 50:50 material on Wednesday, down $15/mt from a week ago. Offers to Vietnam were with the lowest heard for H2 material at $255/mt CFR southern Vietnam, down $16/mt from last Friday. Since mid-December, H2 FOB prices have fallen as much as $33/mt, according to Platts' data. READ MORE... 05 February 2020 Coronavirus influence global market Turkish mills are not able to sell steel overseas or domestically as a result of the bearish mood caused by the ongoing outbreak of the coronavirus in China. Buyers are mostly out of the market because of the drop in scrap prices and global steel demand looks likely to be limited next week, as it appears increasingly unlikely that the virus outbreak will be brought under control before Chinese steel mills are due to fully return to market on 9-10 February. Iron ore showed an unexpected response on Tuesday, backed by Chinese customers’ demand plash in the seaborne market. The raw material sales in the futures market, however, kept diving due to uncertainties connected with the virus outbreak. Apart from operations being restricted in a number of China’s regions, iron ore consumption will be affected by output curbs in Tangshan city in the short term. The city’s authorities announced level II smog alert starting from February 5, ordering local steelmakers to reduce production accordingly. READ MORE... 05 February 2020 Unexpected Russian sale shocked the scrap market Turkish producer managed to buy scrap from Saint Petersburg at a significant discount. The batch for March shipment includes 25,000 t of HMS 1&2 (80:20) at $251/t CFR and 5,000 t of bonus grade at $261/t CFR. As a result the price for HMS 1&2 (80:20) from the Baltic region fell by $19‑20/t. This supplier last September brought down the market with two consecutive low-price sales. The exporter followed the strategy of dropping the Turkish scrap price in order to put pressure on its local dockside purchasing prices. Yesterday’s sale indicates similar confidence that the supplier can affect similar significant descending pressure on St Petersburg prices. READ MORE... 04 February 2020 Ferrous scrap market edges down On Monday the Turkish heavy melting scrap import market was quiet in the absence of deals. S&P Global Platts put its daily HMS ½ (80:20) assessment at $267.50/mt CFR Turkey on Monday, down $1.50/mt from Friday. The market is not positive nowadays as a result every participant is in a waiting position. Taiwan’s domestic HMS scrap prices started the week flat on Monday, after witnessing major players tabling price cuts late-last week. Major mini-mill Feng Hsin Iron and Steel kept its domestic scrap purchasing price unchanged at T$7,800/mt ($257/mt), after recently slashing to $9.90/mt on Saturday, for HMS I/II 80:20 delivered to its Taichung mill. Concurrently, Feng Hsin has reduced its listed rebar prices on Monday to T$14,700/ mt, down T$300/mt from a week ago, for 12-32 mm diameter base-size bars, ex-works Taichung and excluding VAT. Japan domestic scrap prices saw further weakness on continued declining demand, as Tokyo Steel Manufacturing announced price cuts for the fourth time within 11 days, effective Tuesday. READ MORE... 04 February 2020 Seaborne iron ore prices continue descend on vagueness Seaborne iron ore prices continued decline Monday on the back of a weak paper market and continued illiquidity. S&P Global Platts assessed the 62% Fe Iron Ore Index at $79.80/dry mt CFR North China Monday, down $2.75/dmt from Friday. Given the extended holidays any growth potential is completely speculation but there is a lot of room for prices to fall further. Construction activities are forecasted to be delayed as workers are unable to return to the mines immediately -- due to the coronavirus outbreaks - as a result end-users will suspend purchases. Moreover the levels of steel stocks in February are a key factor in predicting end-user production rates and demand for raw materials. The resumption of port operations and transport in Hebei on Sunday eased some of the procurement difficulties that end-users with low stockpiles were facing. READ MORE... 03 February 2020 Prices for Taiwan domestic HMS scrap and containerized scrap continue downswing Taiwan’s steel mills marked their return to the market by slashing prices of domestic scrap, led by weak indicators in most international markets. Prices for Containerized HMS scrap into Taiwan declined for the fifth consecutive week, as buyers remained cautious on imports. S&P Global Platts daily TSI HMS I/II 80:20 containerized scrap spot price was assessed at $243/mt Friday, down $7/mt from a week ago. Weak Japanese scrap offers also influenced Taiwanese buyers' expectations of where US containerized scrap prices could be considered tradable. The market is quite messy and it will be seen next week after the Lunar New Year break if there will be any signs of stability, to both raw material and product markets. READ MORE... 03 February 2020 Iron ore skids, demand decrease expected Iron ore prices limped down Friday, as the coronavirus outbreak continued to weigh on Chinese demand. The 62% Fe Iron Ore Index at $82.55/dry mt CFR North China Friday, down $0.45/dmt from Thursday. The front-month February TSI swap was down $0.45/dmt on the day at $81.65/dmt Friday. Seaborne trades were muted Friday, despite sporadic indicative seaborne and port stocks offers heard. A drop is expected in iron ore demand from China, as steel fundamentals deteriorated in the wake of the coronavirus outbreak. Moreover, some Chinese steelmakers reportedly reducing output rates by up to 20% in February due to transport difficulties and stalled construction projects. READ MORE... 31 January 2020 Turkish import scrap price falls; Egypt attracts attention; Japan raises export Turkish prices for imported ferrous scrap took a further hit Thursday as players lowered their expectations, even as some shipments to Egypt were being reported. Turkey imported of premium heavy melting scrap ½ (80:20) at $269.50/mt CFR Thursday, down $3/mt day on day. After a US booking was reported on Wednesday, the majority of market players adjusted their price understandings to around $270/mt. Meanwhile, some European recyclers focused their selling efforts on Egypt as an alternative outlet to Turkey. Since the beginning of the week, two recyclers from the Benelux-region and two UK recyclers were offering a cargo to an Egyptian mill. The wider market sentiment for scrap imports remained pessimistic amid events in China and a lack of sales in the Turkish domestic market, with the majority of industry players anticipating the market will move toward $260/mt CFR for Turkish imports. In the mean time Asia’s ferrous scrap exporting giant, Japan, saw a rise of 3.4% in export volumes for 2019, hitting 7.66 million mt, latest customs data showed Thursday. South Korea remained the top destination for exports in 2019 at 3.93 million mt, which fell 3.3% from 2018. Vietnam came in second but posted a spike of 41% on the year, reaching 2.21 million mt in 2019. Taiwan was in third place at 0.65 million, posting a 46% growth from 2018. Export volumes started increasing since the third quarter of 2019, as demand from mini-mills and blast furnaces alike within Japan waned on falling construction activities related to the 2020 Tokyo Olympics. The growing regional appetite for scrap, led particularly by Vietnam and Bangladesh on growing production capacities, aided in absorbing the weakened domestic demand in Japan, and boosted export volumes. Japan exported 0.32 million mt to Bangladesh in 2019, marking a fourfold jump from a year ago. For the mid-term outlook in 2020, Japanese traders expect continued weak domestic scrap demand possibly for the first half of 2020, as construction demand is expected to show little improvement prior to the July Tokyo Olympics. Thereafter, city reconstruction and potential new projects may induce better steel demand. READ MORE... 31 January 2020 Iron ore falls as steel turns downward Some steel mills in Shandong and Shanxi provinces will reduce steel production by up to 20% in February due to transportation restrictions and delayed construction activities. As a result iron ore prices fell Thursday. S&P Global Platts assessed the 62% Fe Iron Ore Index at $83/dry mt CFR North China, down $2.60/dmt from Wednesday. The front-month February TSI swap fell $2.70/dmt over the same period to $82.10/dmt. Selected highways have been closed in Qingdao that may lead to a halt in the supply of raw materials even after the New Year holidays. As Hebei ports have been closed since Tuesday, it was expected that end-users would turn to other ports for restocking after the holiday in China. As a result, a procurement source from Hebei expected much lower port transaction levels when Chinese markets re-opened. Australia’s Fortescue Metals Group said Thursday it had not been requested to defer any of its iron ore shipments due to port and logistics disruptions caused by the coronavirus outbreak in China. However supply from Australia could not make up for the loss in volume. Moreover export from Brazil also declined in comparison with last year: 14 million-15 million mt during the first three weeks of January against 28 million mt same period last year. READ MORE... 29 January 2020 Iron ore market collapses on coronavirus China's financial markets' opening has been delayed until February 3 due to the worsening coronavirus crisis. Due to uncertainties around the Wuhan virus, many cities in China decided to delay the restart of construction activities. Hebei ports have closed effective Tuesday. Only vehicles for epidemic prevention and control are allowed to enter the ports, while no entry or exit is allowed for other vehicles. Hence steel mills are not able to transport iron ores from ports to steel plants. Port inventory will go up and less iron ore inventory at steel plants. Some traders expect a positive importing profit in February, as prices at ports may go down slower compared to the seaborne market. READ MORE... 29 January 2020 Scrap market Turkish steel scrap dips, Iron ore weakens READ MORE... 27 December 2019 Prices for imported ferrous scrap are unchanged Thursday Prices for imported ferrous scrap are unchanged in the Turkish market Thursday, with no fresh transactions reported READ MORE... 27 December 2019 The seaborne iron ore market weakened Thursday The seaborne iron ore market weakened Thursday, on falling steel prices and as end-users showed limited interest in restocking READ MORE... 25 December 2019 The seaborne iron ore market remained quiet Tuesday The seaborne iron ore market remained quiet Tuesday, as Chinese customers reduced purchases after active buying in the previous several days READ MORE... 23 December 2019 Import prices for ferrous scrap into Turkey slowed down Friday Import prices for ferrous scrap into Turkey slowed down Friday, with trading slack across the wider market READ MORE... 23 December 2019 Seaborne iron ore prices fell Friday Seaborne iron ore prices fell Friday due to negative short-term forecasts for steel demand and fast increase in previous weeks READ MORE... 17 December 2019 Import prices for Turkish ferrous scrap were mostly stable Monday Import prices for Turkish ferrous scrap were mostly stable Monday, as some mills had shifted to February shipment bookings READ MORE... 17 December 2019 The seaborne iron ore market prices were steady on Monday The seaborne iron ore market prices were steady on Monday, despite firm offers in the spot market READ MORE... 16 December 2019 Import prices for ferrous scrap into Turkey breached the $300/mt mark At the end of the second week of December, import prices for ferrous scrap into Turkey breached the $300/mt mark for the heavy melting scrap grade READ MORE... 16 December 2019 Seaborne iron ore prices gained Friday Seaborne iron ore prices gained Friday, amid expectations of higher steel margins following the sintering and production restrictions in Tangshan READ MORE... 13 December 2019 High buying activity and ongoing increase in contract prices for imported ferrous scrap in Turkey High buying activity and ongoing increase in contract prices for imported ferrous scrap in Turkey were seen on Wednesday READ MORE... 13 December 2019 The Asian seaborne iron ore market fell slightly Thursday The Asian seaborne iron ore market fell slightly Thursday, that came from softer steel price and expectations of lower consumption in the next few days due to increased pollution alert in a number of China’s cities READ MORE... 12 December 2019 Import prices for Turkish ferrous scrap nudged up Wednesday Import prices for Turkish ferrous scrap nudged up Wednesday, on fresh buying and a bullish short-term outlook READ MORE... 12 December 2019 The seaborne iron ore market edged up Wednesday The seaborne iron ore market edged up Wednesday, buoyed by increased price volatility READ MORE... 11 December 2019 Turkish import scrap rose Tuesday Turkish import scrap rose Tuesday as Turkish mills continued their uninterrupted January cargo procurement of American and European material READ MORE... 11 December 2019 Seaborne iron ore prices inched down Tuesday Seaborne iron ore prices inched down Tuesday, with end-users still preferring to buy cargoes from ports READ MORE... 10 December 2019 Import prices for Turkish scrap rose further Monday Import prices for Turkish scrap rose further Monday on the back of fresh deals expecting to be made soon at even higher levels. READ MORE... 10 December 2019 Seaborne iron ore prices rallied on Monday Seaborne iron ore prices rallied on Monday on the back of a futures surge. READ MORE... 09 December 2019 Higher prices at Turkish scrap market Fresh deals are expected to be made soon at higher prices at Turkish scrap market; READ MORE... 09 December 2019 Seaborne iron ore prices Seaborne iron ore prices strengthened at the end of the previous week. READ MORE... 06 December 2019 Turkish ferrous scrap imports in October Turkish Statistical Institute compared the volumes of Turkish ferrous scrap imports in October. READ MORE... 06 December 2019 Seaborne iron ore prices inched down Thursday The situation on the seaborne iron ore market deteriorated a little Thursday, on the back of lower offers in the secondary market. READ MORE... 05 December 2019 Buying activity jumped in the seaborne iron ore market. Turkish buying interest for steel scrap continued Buying activity jumped in the seaborne iron ore market on Wednesday. The 62% Fe Iron Ore Index was assessed at $89/dry mt CFR North China. At least 610,000 t of iron ore in total was traded on platforms during the day after two weeks of seaborne demand slowdown. Purchasing activity at ports was also sufficient. 62% Fe iron ore port stock index, or IOPEX North China, was assessed at Yuan 684/wmt FOT Wednesday. The Seaborne iron ore prices were well supported and they may be rebounded on expectations of less stringent pollution controls for the winter season. Steel mills in Tangshan that were graded under category A or B depending on their compliance with previous pollution controls, were exempted from any production cuts in December. Turkish buying interest for steel scrap continued. Two more deals for Russian and European scrap has appeared in the market. A steel mill from Iskenderun region booked 17,000 t of Russian scrap at $290/t CFR for HMS 1&2 (95:5). A second trade was concluded on the same day between a Marmara longs producer and a Benelux recycler. The cargo booking consisted of 20,000 mt HMS 1/2 (75:25) at $267/mt and 10,000 mt shred at $279/mt for January shipment. More deals are anticipated going forward, as producers are collecting information about available cargoes and prices. READ MORE... 04 December 2019 The Asian iron ore market fell Tuesday. Growth of imported scrap prices have in Turkey The Asian iron ore market fell Tuesday on limited buying interest for seaborne cargoes. Imported scrap prices have resumed moving in Turkey on the back of a fresh Baltic sale. READ MORE... 03 December 2019 Seaborne iron ore prices went up. Results of Turkish Scrap and Rebar Market Survey Seaborne iron ore prices went up amid a supportive paper market. The Turkish Scrap and Rebar Market Survey has shown that market participants are largely more bullish on the direction of Turkish import scrap prices over December. READ MORE... 02 December 2019 Seaborne iron ore prices inched down. New deal on Turkish ferrous scrap market Seaborne iron ore prices inched down amid low steel demand due to the start of consumption weakening in winter. Import prices for ferrous scrap into Turkey indicated a certain upturn in fresh Benelux-origin booking. READ MORE... 28 November 2019 Iron ore and ferrous scrap market Seaborne iron ore prices going down. Little price movement was observed in ferrous scrap market. READ MORE... 04 June 2019 US CUTS TARIFFS ON TURKISH STEEL IMPORTS IN HALF, TO 25% The U.S. announced a rollback of steel tariffs against Turkey that it originally levied in August as trade and diplomatic relations deteriorated because of Turkey’s economic crisis and a row over the Turkish government’s detention of an American pastor. The decision cuts in half the 50% tariffs paid on Turkey steel imports, leaving the 25% Section 232 levy, implemented March 2018, in place. Turkey told the World Trade Organization last year that levies on steel and aluminum shipments violated the rules of international commerce. President Donald Trump tweeted on Aug. 10 that he authorized the doubling of tariffs on Turkey’s steel shipments in response to the depreciation of the lira against the U.S. dollar. The pastor, Andrew Brunson, was freed by Turkey last October. The White House statement that announced the reduction in the steel tariffs made no mention of separate levies on Turkish aluminum. Read more:https://www.bloomberg.com/news/ READ MORE... 07 February 2019 Mexico not to renew steel imports duty The government of Mexico decided not to renew the expired import duty which had been aimed to defend the domestic steel sector from the wave of foreign material. READ MORE... 16 November 2018 Brussels approves new energy targets, challenging steel sector The European Parliament approved the EU‑wide renewable energy target of 32% and 32.5% energy efficiency increase to be reached by 2030. READ MORE... 31 August 2018 SteelOrbis and Irepas Conference in Istanbul on September 16-18 SteelOrbis and IREPAS conference comes to Istanbul for 35th anniversary! READ MORE... 07 July 2018 TURKISH SCRAP MARKET CALM Prices for imported ferrous scrap are stable in Turkey, with no transactions reported. READ MORE... 06 July 2018 SCRAP EXPORTS FROM SOUTH OF RUSSIA IN JEOPARDY Russian scrap collectors are concerned about export prospects ahead of possible restrictions on shipments via ports in the south of Russia, similar to those already effective in the Far East. READ MORE... 24 April 2018 WORLD RECYCLING CONVENTION & EXHIBITION Barcelona 28-30 MAY 2018 This year Ascor participates World Recycling Convention & Exhibition held in Barcelona on 28-30 May 2018 to get the latest analytical commodity information and market forecasts on non-ferrous and ferrous metals. READ MORE... COMPANY INFORMATION About Us Our Network News Contact Us COPYRIGHT Privacy Policy Copyright © 2021 ASCOR UK LIMITED. All Rights Reserved. Website created by Web2 OUR SERVICES Raw Materials Trading Logistics Marketing CONTACT US ASCOR (UK) Ltd 87 Uvedale Road Enfield EN2 6HD United Kingdom.