Raw material price rally continues

Raw material price rally continues (Aug. 8, 2017)

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The rally of ferrous raw material prices continued last week supported by the good momentum in most global markets. Both iron ore and scrap international benchmarks jumped again, surpassing again the market expectations.

Scrap reached last week $330/t CFR Turkey for HMS 1/2 (80:20 blend), matching the highest point ever registered by the Kallanish index, reached in May 2016. Some sources expect the uptrend to continue to $350 or even $360, but it is worth noticing that only few weeks back many believed the top of the market would be at just above $300/t CFR.

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Raw material price rally continues (Aug. 8, 2017)

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