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Home > MEPS Steel News - 04.07.2013


Global scrap brokers have begun to downgrade their forecasts for price and sales volumes in 2013. Price volatility has returned to key steelmaking raw material markets – particularly, iron ore and metallurgical coking coal. Downward pressure materialised out of concerns that the U.S. Federal Reserve was planning to scale back its bond-buying stimulus programme. Compounding the problem was the apprehension that China’s central bank would persist with a tight monetary policy stance. The unease stemmed from a directive given to Chinese banks to rein in informal lending and speculative trading practices.

For a second successive month, selling figures in June declined in all of the seventeen import/export ferrous scrap markets surveyed by MEPS. Domestic settlement prices also decreased in the thirteen countries researched. Average losses ranged from 0.4 percent to 9.7 percent.

Source: MEPS - Ferrous Scrap Review  Also see: MEPS - Scrap Price Table

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