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
Miller on Metallics: The future of US pig iron usage
There is no doubt pig iron will be needed to fuel the expansion of flat-roll capacity in the US and Canada. Where will it come from? How much will it cost? What will be the quality? Is it a good business to produce merchant pig iron? The US imports between 4-6 million metric tons (mt) per year of […]
CRU: Renewed availability of Russian pig iron weighs on global prices
Pig iron prices declined in all regions as the EU’s 2025 import quota on Russian pig iron has begun, loosening global supply.
CRU: Iron ore down due to falling hot metal production in China
A bleak outlook for steel demand has undermined market confidence, contributing to the drop in prices.
Pig iron import tags continue to slide
Prices for pig iron imports into the US continue to retreat in the face of regional weakness in demand for ferrous raw materials in South Asia and the Far East.
Pig iron tags slip on soft ferrous raw materials demand
The prices being paid by US-based buyers has continued to decline as ferrous raw material demand across the globe remains weak.