Steel Scrap Prices From Korea Fall Hard on Weekly Index

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A 12 percent decline in Korean steel scrap made it the biggest mover on the weekly Raw Steels price index.

current steel prices - MetalMiner IndXMeanwhile, Korean pig iron prices were off very slightly, only down about one dollar per metric ton a week ago.

Look for the latest iron ore, coking coal and steel prices from China tomorrow.

Not far behind steel scrap from Korean in terms of movement, the steel billet cash price rose 11.3 percent on the LME to $345.00 per metric ton after falling 6.1 percent during the previous week. The 3-month price of steel billet rose 10.9 percent on the LME to $355.00 per metric ton after falling 4.2 percent during the previous week.

In the US, shredded scrap rose by a slight 0.3 percent. The US HRC futures contract spot price rose 0.2 percent to $591.00 per short ton after falling 0.8 percent during the previous week. The 3-month price of the US HRC futures contract traded sideways last week, hovering around $650.00 per short ton.

The Raw Steels MMI® collects and weights 13 global steel and raw material price points to provide a unique view into global steel price trends. For more information on the Raw Steels MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

 

Comments (2)

  1. rajiv says:

    We are buyers of SS Scrap kindly reachout to us for related news and any suppliers for it.

  2. Hi Rajiv,

    For the latest in complete scrap price news, take a peek at subscription options to our MetalMiner IndX — https://agmetalminer.com/metals-price-index/
    It’s really easy to get started! Email us at info@agmetalminer.com if you have any questions.

    Best,

    The MetalMiner Team

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