Last week the World Steel Association published the latest data regarding crude steel production globally, confirming once again that output is continuing to expand this year, supported mainly by the Chinese market.

In July the world produced 143.2 million tonnes of crude steel, up over 6% year-on-year. This is the …

The differential between the global benchmark for iron and scrap has reached a new record level last week, as scrap prices continued to jump and the iron ore prices stabilised at the levels seen since the second week of August. 

Prospects for the global steel sector for the rest of 2017 remain healthy. Seaborne iron ore prices are in the mid-$70 range, global ferrous scrap prices continue to strengthen, Chinese steel prices remain firm-to-improving and most major steelmakers are posting improving financial results.

The rally of ferrous raw material prices continued last week supported by the good momentum in most global markets. Both iron ore and scrap international benchmarks jumped again, surpassing again the market expectations.

Scrap reached last week $330/t CFR Turkey for HMS 1/2 (80:20 blend), matching the highest point ever …