In the global steelmaking raw materials markets,Turkey continued to pay higher prices for imported scrap in line with rising billet and finished steel prices, while scrap prices in the USA and Taiwan followed a similar trend.
Iron ore prices, meanwhile, gained strength at the beginning of the week, staying above $70 per tonne cfr on Wednesday, but prices fell at the end of the period due to thin trading.
Metal Bulletin’s 62% Fe Iron Ore Index was $67.14 per tonne cfr Qingdao, down by $0.91 per tonne on a daily basis.
Steel Prices for different steel products and regions have all increased this week.
In China, export prices for hot rolled coil (HRC) have risen for a sixth week on continued upward momentum in the domestic market.
Eastern China’s steel major Shagang has raised its prices for long steel to be delivered in late July.
In Southeast Asia, import billet prices continued to rise last week, supported by the positive trend in the global semi-finished market.
CIS-origin export HRC prices have gone up over the past week, as values were supported by the growth in the Chinese export prices, while CIS export slab prices continued to increase, driven by the continuing uptrend in the finished flat steel products and raw materials sectors.
Northern European steelmakers have increased their official HRC offers on higher raw material costs and a recovery in the global flat steel market.
And in the USA, NLMK USA has increased flat steel base prices for all new spot business by $40 per tonne, while California Steel Industries Inc (CSI) has increased prices for flat rolled steel by at least $25 per tonne.
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Post time: Jan-04-2018