The report on the performance of global steel markets last week shows a downward trend in the prices of steel products other than iron ore.
Imported iron ore of 62 percent purity in China rose from $ 129.4 last week to $ 131.25 per tonne CFR last week.
Earlier in the week, prices rose to $ 136 amid optimism about improving demand due to lower mortgage rates in China, but by the end of the week, worries about steelmakers’ low-profit margins and sluggish demand had pushed prices down. The stock of steel products in the Chinese market has increased and iron ore buyers are currently pursuing a waiting policy.
Last week in the Turkish market, the average price of imported heavy scrap 1 and 2 (20-80) dropped to $ 8 and reached $ 457 per ton CFR. The lack of demand in the steel market has caused the scrap market to stagnate.
Japan’s Class 2 heavy export scrap also fell from $ 431 to $ 401 per tonne CFR last week, in line with other scrap markets. The average price of heavy imported scrap in East Asia was also stable at $ 500 per ton CFR.
Last week, the average CIS export ticket price dropped to $ 2 and was around $ 605 per tonne FOB. In the Southeast Asian import market, the price of imported ticket billet fell from $ 655 to $ 640 per ton CFR.
Last week, CIS hot-rolled sheet exports fell $ 45 to $ 770 a tonne on the Black Sea FOB. The average price of Chinese hot-rolled sheet exports rose from $ 744 to $ 790 to $ 741 to $ 773 per tonne FOB.
In the Southeast Asian market, the latest import prices fell to $ 60, reaching $ 735 per ton CFR.
In the European domestic market, hot-rolled sheets fell by 35 euros to 1,040 euros per tonne. In the US domestic market, hot rolled sheets rose from $ 1,350 to $ 1,240 per ton of factory-made shorts.