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

Brazil pig iron community reacts before US tariff takes hold
The Brazilian pig iron community is playing defense ahead of the Aug. 1 deadline for a 50% US tariff on imports from the South American country. The moves indicate the Brazilian producers do expect the tariff to go into effect.

Miller on Pig Iron: Brazilian tariffs threaten turmoil in sector
The announcement of 50% tariffs on Brazilian imports, including pig iron, could have a dramatic effect on steelmaking raw materials.

Trump increases Brazil tariff to 50%, sparking questions about pig iron prices
President Donald Trump on Wednesday said he would increase the “reciprocal” tariff on imports from Brazil to 50% effective Aug. 1. That could have big implications for pig iron.

Miller on Raw Materials: Are more DRI investments coming to the US?
Will more DRI investment come to the US?

Brazilian pig iron sellers OK lower prices
The resistance Brazilian pig iron sellers had shown to accepting lower prices has proved short-lived, sources told SMU.