The global market for metallurgical raw materials is approaching the end of 2019 in a good mood. The cost of scrap metal reached $ 300 per ton CFR, and traders expect continued growth in January in all major regional markets.

China has a temporary truce with the United States, so expectations in the Chinese market remain favorable, and spot quotes for iron ore exceed $ 90 per ton CFR. Metallurgical and trading companies buy raw materials in reserve before the New Year holidays according to the local calendar, which are a little over a month away.

True, not all consumers are happy with the rapid rise in prices of raw materials, since steel products, as a rule, are not so rapidly increasing in price, and in China, rental prices are gradually getting cheaper due to seasonal factors. However, at least in the scrap sector, growth opportunities are obviously not yet exhausted.

The full text of the review can be found here.

 

Source: https://www.metalinfo.ru