The differential between iron ore prices in China and scrap levels in Turkey remained steady last week despite the slight reduction of scrap levels since the March peak.

Currently, the spread is some $290/tonne. Scrap is holding at above $350/t cfr Turkey and iron ore continues to fluctuate between $62/t …

Last week billet prices inched up slightly to $520/tonne fob Black Sea, returning to the peak level registered during April-June. The second quarter was a volatile period overall for billet prices, with ups and downs registered. The recovery seen during the last week of the quarter could give some slight …

Last week raw material prices remained fairly stable as the third quarter approached and the market is expected to calm down slightly during the July and August period.

Turkish scrap values remained at $355/tonne cfr last week. The scrap market had recovered slightly around 10 June and then stabilised further. …

Last week the scrap and billet market saw a revival in activity that led to a recovery in prices from the low points reached at the end of May.

Scrap, for example, returned to $355/tonne cfr Turkey for HMS 1/2 (80:20) after having touched $340/t cfr Turkey at the beginning …