Steel scrap prices in both Turkey and the major Asian markets were under pressure in the week to Friday July 29. Most participants in these markets were expecting more of a downtrend to come in scrap prices amid weak sales of steel products
US ferrous scrap dealers shared concerns about the domestic market’s outlook, citing market chatter that cut and shredded scrap prices could fall in the upcoming trade despite shrinking flows into recycling yards
Steelmaking raw material imports into the United States soared by 51.97% month on month in May, an increase of 258,047 tonnes, with that jump led by a recovery in pig iron import volumes
Ford is making a $3.7-billion investment in its business, which will be spread out across its plants in Michigan, Ohio and Missouri, and will expand both electric vehicle (EV) and internal combustion engine vehicle (ICE) production
No new ferrous scrap export sales from the US East Coast to Turkey have been reported since prices fell sharply in a cargo booked in mid-May, but more price drops could be on the horizon, Fastmarkets understands
US imports of steelmaking raw materials rose by 7.46% month on month in March, with higher ferrous scrap and pig iron volumes outweighing declines in shipments of direct-reduced iron (DRI), according to the latest data from the US Census Bureau
