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CSI: China’s scrap imports may tighten global steel margins

CSI: China’s scrap imports may tighten global steel margins (Dec. 7, 2020)

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In late November China began clearing away the existing framework for the import of ferrous scrap and replacing it with new standards which should allow freer imports from the start of 2021. At the same time, strong domestic demand and improving global steel sentiment have sent steel and raw materials prices surging. This will form a key framework for steel markets internationally in 2021, with impacts on both steelmaking costs and on trade flows.

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E3 Demolition Scrap / Austria Ex-Works EUR/t 0.0%
HRC / N America Ex-Works USD/s.ton -4.0%
Rebar / Italy Ex-Works EUR/t -3.0%
Plate / N America Ex-Works USD/s.ton -10.0%
Rebar / Turkey FOB USD/t 0.0%
E6 New cutting scrap (DKP) / Turkey / delivered basis, TRY/t 0.0%
HMS 1/2 Scrap / Taiwan CFR USD/t 0.0%
Shredded Scrap / Turkey / CFR USD/t -0.0%
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E3 Demolition Scrap / Germany Ex-Works EUR/t 1.0%
Billet / Tangshan Ex-Works CNY/t 1.0%
KORE 62% Fe / Qingdao CFR USD/t 2.36%
Billet / CIS-Black Sea FOB USD/t 0.0%
Heavy Scrap / China / CNY/t 0.0%
HMS 1&2 80:20 / Turkey CFR USD/t -0.0%
KORE 65% Fe / Qingdao CFR USD/t 2.08%
CRC / N America Ex-Works USD/s.ton -3.0%
E2 & E3 Shipbreaking scrap /Turkey / Delivered basis / USD/t 0.4%
HMS 1&2 80:20 / UAE, delivered basis AED/t -1.0%
KORE 58% Fe / Qingdao CFR USD/t 7.37%
HMS 1/2 80:20 / Bangladesh / CFR USD/t 0.0%
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