EU working to get docks down. Helped by weakness of Germany. Might move to $365 US-Turkey (down $5/t) based on latest talks. Not enough offers for a $10/t fall. Small fall most likely. Doubt FED’s 25/50 bps cut will change things short-term, unless China reacts with some force
Weaker EUR altered regional #scrap exporter targets but still close to $420/t cfr #Turkey. If achieving sales around this level would mean EU exporters achieve equiv levels above the $421-422/t US deal levels of mid-week. EU flow + margin still dictate. UK supply not a concern
The Indian Finance Minister Nirmala Sitharaman, today presented the interim Union Budget for fiscal year 2024-25 (FY'24-25). No major change in the duty structure against last fiscal.
Highlights :tinyurl.com/ye2rnu45
PDF: tinyurl.com/ye98hpcb
Source: BigMint
#Budget2024
Indian scrap consumption is going to surpass last year's number. It is surprising bz India has altleast 100 years of Iron ore, if we calculate as per current rate of consumption. Is it happening bz of upcoming CBAM? What do you think?
#steelscrap#CBAM#CarbonZero#CarbonTax
Indian scrap consumption is going to surpass last year's number. It is surprising bz India has altleast 100 years of Iron ore, if we calculate as per current rate of consumption. Is it happening bz of upcoming CBAM? What do you think?
#steelscrap#CBAM#CarbonZero#CarbonTax
Latest Turkey scrap deal indicates stability in the market. South Asian buyers are not active currently.
Sims US-Habas:
80:20 $379.50
Shred $399,50
Bonus $399,50
#scrap#steelscrap
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