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Increased demand for steel could further drive up Turkish imported scrap prices
Turkish imported scrap prices have increased by $15-20/ton depending on recently concluded contracts. Market participants believe that prices could take a clear direction once China returns to replenish cargo after the holidays. In a recently concluded deal, about...
Steel 2021 positive outlook
According to the European Steel Association in 2020 (Eurofer), steel consumption in the EU was 134 mln tons, down 13% compared to 2019. The year just ended is the worst since 2009 and reflects a contraction on both the production and import side. The outlook for 2021...
Global scrap prices rebound
Turkey’s imported scrap prices have shown strong fluctuation in recent deals. Buyers are actively booking new cargoes for March 21 shipments due to increased domestic demand for finished steel. Japan’s main EAF steel mill, Tokyo Steel has increased the...
Aluminum close to highs
Aluminum has reached December 2020 highs in the $2093/ton area (100% target of Fibonacci expansion from the bearish channel breakout point). Will it break up or generate an initial correction? Analyzing the “Uninterrupted Close” statistic, aluminum has...