Last week was marked by the first real downward correction of Turkish scrap prices since the rally started last year in October. According to the Kallanish index, HMS 1/2 80:20 settled at the end of last week at $460/tonne cfr Turkey, down over $20/t from its peak the week earlier. …

The global stainless steel market is enjoying a similar rally to that seen by carbon steel, supported by tight supply and record levels for raw materials.

CHINA
China's stainless steel market and futures prices increased last week. At the same time, nickel futures on the London Metal Exchange also hit …

While most global steel markets enjoyed a break during the Christmas holidays, the eyes of most analysts and participants turned toward Russia, where the local authorities are pushing forward a number of measures to apply export duties for scrap and steel products, in order to protect the domestic market.

Russian …

The upward momentum for steel prices registered globally did not slow down last week. In the CIS, both billets and slab prices continue to recover and they are now at record levels.

BILLETS - A Russian mill sold a 10,000 tonne lot for February loading to a Turkish re- roller …