Strong bulk raw materials costs support DRI/HBI and pig iron prices

摘要

Global scrap prices weakened overall with February transactions due to sluggish mill demand coupled with reluctance to build inventory levels. However, pig iron and DRI/HBI prices posted increases of up to $20/t from our previous assessments, driven by elevated iron ore prices. As a result, CRU's Metallics Price Index rose by just 4.4 points (1.5%) m/m (see chart).