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 market outlook cloudy
The pig iron market in Brazil is currently in flux and there have been few, if any, confirmed cargoes transacted for the US.

US-Brazil pig iron trade stalls heading into fall
The Brazilian-US pig iron market has remained quiet, market sources told SMU.

Steelmaking raw material prices hold steady
Most steelmaking raw material prices we track saw little change across the month of August. Iron ore, pig iron, shredded scrap, busheling scrap, zinc, and aluminum prices all held relatively steady,

US pig iron market lacks price firmness
Prices remain subdued in US pig iron market, sources said.

Most steelmaking raw material prices hold firm
Prices for four of the seven steelmaking raw materials we track were unchanged from late June through the end of July, while two increased and one declined. Collectively, these material prices rose 1% month over month (m/m), but are down 3% compared to three months ago.