Soft US scrap prices do little to help US HRC market

Soft US scrap prices haven’t helped maintain US HRC prices. As of late May, the expectation throughout the marketplace was

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Product Weekly Change (%)
Iron Ore 62% Fe, CFR China, $/mt -6.6
Scrap HMS I/II 80:20, CFR Turkey, $/mt -3.54
Billet FOB CIS, $/mt 0
Rebar FOB Turkey, $/mt -1.19
HRC FOB China, $/mt 0
Wire Rod FOB China, $/mt -1.55
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Product Weekly Change (%)
HDG FOB China 0
HRC FOB Turkey -1.06
Iron ore (62%) CFR China 11.68
Scrap HMS I/II 80:20 CFR Turkey -4.98
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  Weekly Change (%)
Turkish Scrap Index -2
China HRC export index 0
China CRC export index 0
Turkish HDG Index -1.56
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