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.

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.

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.

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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