Raw Material Prices

CRU: Turkish scrap prices rise driven by restocking as sellers return
Written by Rosy Finlayson
January 16, 2024
Turkish scrap import prices increased last week with CRU’s assessment for HMS1/2 80:20 at $423 per metric ton (t) CFR, up by $7/t week over week (w/w) but down $2/t month over month (m/m). This was driven by a pickup in buying activity.

The increase in Turkish scrap prices was driven by buyers actively purchasing scrap last week from sellers in Europe and the US who returned from the holiday period. For similar reasons, Turkish finished steel prices rose by $10/t for rebar, and by $5/t for hot-rolled (HR) coil, to $615/t FOB and $695/t FOB, respectively. This was partly due to a mild demand recovery after the holiday period. However, market participants remain cautious and await further clarity on price developments as demand has not shown significant signs of improvement.

This article was first published by CRU. Learn more about CRU’s services at www.crugroup.com/analysis.
Rosy Finlayson
Read more from Rosy FinlaysonLatest in Raw Material Prices

Pig iron markets seek clarity after tariff confusion
The pig iron markets have been quiet for the last several weeks, as tariff implementation on imports into the US became a reality. There has been debate on which party will have to pay the tariff. A recent transaction could provide the answer to that question.

CRU: Iron ore falls to a 7-month low on escalating trade war
Iron ore prices were largely steady in March, hovering around $100–102 per dry metric ton (dmt) in a quiet market.

Miller on Raw Materials: Iron ore tariff woes
There are several other tariffs implications concerning the ferrous raw materials sector. In addition to tariffs on DRI/HBI imports, there will be also be a tariff on raw materials imported to domestically based metallics producers.

Trump’s tariffs could have unforeseen impacts on ferrous raw materials
The imposition of reciprocal tariffs by President Trump as explained on Wednesday afternoon has rattled virtually every market. This policy has some advantages for the steelmaking sector, but there may be some disadvantages that were not considered, especially for the EAF producers of flat-rolled.

US pig iron tags hold despite potential scrap price drop
The price of pig iron for the US market remains firm despite a potential drop in domestic ferrous scrap prices going into April.