Scrap prices increase as regional imports of Chinese billet fall back

摘要

Stronger demand has lifted scrap prices across North East and South East Asia this month, driven by bothhigher EAF-based steelmaking due to reduced Chinese billet exports and higher finished steel marginsincentivised greater steel output. Chinese winter heating season cuts will tighten the long products market forthe next four months and we expect further increases to metallic prices.