STAGNANT GLOBAL STEEL DEMAND UNSETTLES
INTERNATIONAL FERROUS SCRAP PRICES
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
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.
MEPS - Ferrous
Also see: MEPS -
Scrap Price Table
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