Iron Ore
In the Chinese import market, the price of 62% iron ore fell from around $100 to $98 last week, then returned to $99.25 per ton CFR by the end of the week. Overall, the market remains quiet and in a state of anticipation.
Scrap
In the Turkish scrap import market, the average price of heavy scrap (20-80) decreased from $372 to $365 per ton CFR last week. Turkish steelmakers' pressure on suppliers led to European scrap being traded at lower prices, thereby reducing the average market price. Apparently, buyers in Turkey are unwilling to pay more than $360 for European scrap.
Export prices for heavy class 2 scrap from Japan increased by $9, reaching around $303 per ton FOB. The average price of imported heavy scrap in East Asia also fell by $7 to $354 per ton CFR.
Billets
Last week, the average price of export billets FOB in the Black Sea remained stable at $480 per ton. In the domestic market in China, billet prices rose from $432 to $437 per ton at the factory gate. Imported billets to China also saw little change last week, recording a decrease of $1 to $437 per ton CFR.
In the Southeast Asia import market, the price of billets improved by $2 to $484 per ton CFR. In Turkey, the average price of imported billets fell by $5 to $500 per ton CFR last week.
Plates
Last week, the price of export hot-rolled sheets FOB in the Black Sea increased by $10, reaching $525 per ton. The average price of export hot-rolled sheets from China decreased by $3 to $497 per ton FOB. In Southeast Asia, the average price of imported hot-rolled sheets fell from $500 to about $495 per ton CFR.
It is worth noting that in the European domestic market, the price of hot-rolled sheets rose by €10, reaching €565 per ton at the factory gate. In the U.S. domestic market, the price of hot-rolled sheets remained steady at $710 per short ton at the factory gate.
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