Scrap prices up on restricted supply and rising demand

摘要

The CRU metallics price indicator (CRUmpi) for February rose by 4.3 m/m, to 333.0, with supply still being restrained due to the winter season while demand improves. The post-CNY holiday boost has been underwhelming compared to previous sentiment, but still delivered an increase in real demand. The tragic earthquake in Turkey will act as a short-term, downward force on the price as the primary scrap importer reels from the devastation.