Tight supply and better sentiment lifts prices

摘要

Scrap prices have strengthened across most major markets with the Turkish import benchmark nearing the $300/mt CFR mark for the first time since July. Turkish mills were able to pass through the higher prices, lifting rebar exports by $5/mt on the day before to $445/mt FOB on December 12. But the ability to compete in export markets at prices much higher than these levels is doubtful. Import prices for premium HMS 1/2 (80:20) rose $20.50/mt in the second week of December as mills struggled to find available material. Some market players continue to see bullish signals that the market can support prices of above $300/ mt CFR throughout January, particularly due to demand for Turkish hot-rolled coil from Europe.