steel slabs for sale

Good news about steel’s exit from the global recession

The significant increase in the price of imported scrap metal in Turkey by +6% is an excuse for the increase in the price of #cast iron by +11% in the Black Sea and the increase in the price of CIS billets by +4.8%.

On the other hand, the iron ore price index of ports in China and East Asia increased by +7.7% this week and reached the range of $107/ton, which drives the price of steel in this region.

Commodity, CIS and East Asian steel price growth has positive effects on Iran’s steel export prices, and steelmakers will expect good news in the coming week.

View of global markets on Monday, December 5, 2022

A good day for the world’s steel chain… due to developments in the opening of the Chinese economy from the restrictions of Corona… and the news related to the restriction of scrap exports by the European Union, which is both a driver of CIS and East Asian steel.

• Turkish domestic scrap 8.1%+
• 6.3%+ black sea_warm sheet
• Black Sea cold sheet 5.7%+
• FOB China 5.1%+
• Australian coal +4.1%
• Black Sea Slab +3.6%
• Iron_ore 3.4%+
• East Asian slab +1.9%

35% + price jump in the last 4 weeks and reaching the peak of 3 months!

• Iron ore +7.7%
• Iron concentrate 7.5%+

The iron ore price index draws energy from the weakening of the world dollar and the decrease in the deposit ratio of banks with the central bank, and it follows China’s actions in stimulating the economy of this country… on the other hand, the protests of this country increase the optimism for the change of the corona policy in this country.

Iron ore prices in the Dalian market of China were bullish today and reached $108.63/ton with an increase of +2.74%… In Singapore, iron ore rose by +4.15$ and reached $101.9/ton.

In the commodity market, there is a lot of concern about the low profit margin of Chinese steel companies, which can limit the growth of iron ore prices… The increase in steel prices can stimulate the continuation of iron ore price growth by reducing concerns.

The time of Russian embargo according to the statistics of the world’s ships

Russia owns only 2.1% of the world’s 161.8 thousand oil tankers, and the sanctions are very effective on this country.

• China 11.4%
• Greece 10.9%
• Japan 10.6%
• America 6.3%
• Germany 6%
• Singapore 5.2%
• UK 4.2%

Expectation of continued growth in iron ore prices this week

The trend of iron ore inventory in 45 import ports of China can be seen in the picture… The demand of Chinese steelmakers last week was favorable and caused a decrease in warehouse inventory, which is good news for this area.

The latest inventory in China’s warehouses: 132.9 million tons.

Weekly decrease of 1.4 million tons (-1%), 13.7% decrease compared to the previous year.