Chinese price surge, speculation, and rising coal costs lift metallics prices

摘要

Since the Golden Week holiday at the start of October, steel prices in China have been rising, though the pace has quickened in recent weeks. Billet prices have also increased sharply, from both China and the CIS. This, coupled with stronger Turkish steel export prices, has led import prices for scrap in Turkey to increase sharply: by $44 /t m/m. In Asia, higher steel prices have increased demand for scrap and prices for the material have consequently risen.