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LONDON (MarketWatch) — European trade groups Eurofer, which represents steelmakers, and Orgalime, which represents industrial firms, said they “condemn” attempts by iron-ore producers BHP Billiton, Rio Tinto and Vale to increase prices by 80% or more. Vale this week reached a deal with Japanese steelmakers to up prices by 90%. The trade groups said the [...]
March’s US scrap market could be “coming in like a lion” with strong prices, one Mid-Atlantic states scrap dealer tells Steel Business Briefing. “By all accounts the mills have strong order books, and are projecting good business. On the other side, incoming scrap has been severely impacted by the weather, as has transportation, especially rail [...]
The US government slapped preliminary anti-dumping duties on imports of more than 300 million dollars worth of wire decking from China, the Commerce Department said in a statement on Tuesday. The department claimed that it found dumping of wire decking from China after investigation. The tariffs of between 42.61 to 289 percent will be imposed [...]
Sources: US scrap prices will continue rising The US scrap market for January and February is still taking shape – but market players tell Steel Business Briefing they expect prices to continue their upward march. “I think the demand is going to be exceeding the supply, so I think prices will remain strong,” said one [...]
Turkish steel mills are still buying little scrap because of the high global prices. US suppliers are not offering any price to Turkey because of the strong domestic demand in USA, market sources tell Steel Business Briefing. Only one deep sea cargo from the European Union was sold to Turkey this week. This latest mixed [...]
A higher than expected jump in US scrap prices has some in the scrap market feeling skittish about volatile prices, Steel Business Briefing notes. “The numbers have gotten out of control,” said one Midwestern US scrap buyer, while predicting the market would go up again in January. “There will be no way that mills can [...]
US scrap prices could head up next month by $20-30/long ton, followed by another similar price increase in January, market sources tell Steel Business Briefing. Shredded is currently selling for about $240- 255/l.t on the domestic market. “We are hearing that a rise in the market is expected in December, and up more in January. [...]
The Korean government’s public procurement service (PPS) is aiming to buy its second parcel of 40,000 tonnes of US scrap for the country’s first steel scrap stockpile. This and the inaugural consignment are to arrive in Korea around mid-December. Courtesy: Steel Business Briefing
Scrap surcharges used by Nucor and other American steelmakers to determine monthly steel transaction prices are heading down. Due to a $25 per long ton decline in a benchmark shredded scrap price (from $260 to $235), surcharges on rebar, merchant bar, wide flange beams, light structural’s and plate will likely decline by $25 a short [...]
September US scrap prices for various grades have risen anywhere from $15-$24/long ton over the previous month, according to a ferrous scrap price index compiled by Pittsburgh-based Management Science Associates (MSA). MSA’s RMDAS (Raw Material Data Aggregation Service) shows prices are up in all US regions, across the board, for prompt industrial composite, No 1 [...]
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