Continued upward trend in the global steel market

Iron ore
The price of imported iron ore in China has been fluctuating over the past week. It jumped $ 2 mid-week and dropped slightly by the end of the week and traded up to about $ 2 per tonne of CIFR, which is a dollar rise from the previous week. Better steel sales in general have made iron ore buyers more likely to complete warehouses, and in the short term one should not expect a sharp drop in the price of this raw material. In Iran’s export iron ore market, according to Umetal, the latest magnetite iron ore price jumped 2 percent from $ 1.2 per tonne FOB to $ 1.5 per tonne. Hematite iron ore exported from Iran’s 5% purity also improved from $ 1.5 to $ 2.5 per tonne FOB.

  Scrap
In the past week, the price of Grade 1 and 2 purges of Grade 1-5 in Turkey rose to $ 2 per week in the past week and $ 2 per tonne of CIF was heard. Supply constraints have allowed the market to accept price increases easily, and the bullish trend is expected to continue to be well below $ 1. In East Asia, imported container scrap in Taiwan traded as high as $ 2 per ton, $ 2 per tonne of CIF. In the Japanese export market, the Class 2 heavy scrap last week was about $ 3 per ton of FOB. In the US domestic market, the shredded scrap at $ 4 per ton remained unchanged.

  Steel ingots
Last week, the average CIS export bill rose to $ 2 per tonne, trading at $ 2 per tonne FOB. Demand was down in Turkey and North Africa. In Turkey, the bid price was $ 1 to $ 3 per tonne of CIF, which is estimated at $ 2 to $ 1 per tonne of FOB. Turkey’s export bill was also $ 2- $ 3 per tonne of FOB, which grew slightly. In South East Asia, Russian bills rose by $ 2 to $ 2 to $ 5 per ton of CIF.

  Sections
Last week, the last rebar price in China’s domestic market dropped slightly to $ 5 per tonne. In the export market, the bid also improved from $ 1 to $ 1 a week to $ 1 per tonne of FOB. Some also offered up to $ 2 per tonne of FOB. CIS rebar exported from $ 5 per tonne FOB to $ 2- $ 1 tonne FOB. In Turkey, rebar prices remained relatively stable at $ 1 to $ 1 per tonne. Turkey’s export rebar also recorded $ 1 to $ 1 per tonne of FOB, unchanged from the previous week. In the European domestic market, rebar was reduced by 2 euros to 5 euros per tonne of factory doors. In the US domestic market, the rebar remained unchanged at $ 5 per tonne.

  Sheets
In the past week, the price of CIS export hot sheets has continued to rise, driven by rising commodity prices. The average price of hot sheets went from $ 1 to $ 1 to $ 1 to $ 1 per ton of FOB. The price of hot sheets in China’s domestic market has risen to $ 2 per barrel; $ 1- $ 4 per tonne has been recorded at the factory, reaching $ 4 per weekend. The tone has grown. In the export market, the last price has risen by about $ 2; $ 8 per tonne of FOB.

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