Pakistan’s Steel industry news and business
Wednesday February 21st 2018




Rusmet sees MEA lagging scrap and billet price recovery

March often is a hot month in scrap market. The stockpiles decreased in winter till the lowest, the weather is not good enough yet for the collecting volumes increase and metallurgical plants are increasing outputs counting on spring rally and are ready to pay much for raw materials.

At first sight the current situation in global scrap market has all these characteristics. There is scrap shortage now and the demand increase from the US, East Asian and Turkish metallurgists simultaneously spurred the prices boost to the almost highest level in recent 1.5 years. The quotations for Western HMS No 1 scrap in East Asian countries increased in the beginning of March to USD 400 per tonne CFR and Turkish steel manufacturers have to buy similar scrap at USD 380 per tonne CFR and more.[Read More]