Ferrous Scrap Looks Upbeat

For ferrous market participants, the 2018 market outlook has been significantly more upbeat as compared to other commodities, due in part to the sector’s relatively limited dependence on Chinese ferrous scrap import demand, expectations for relief from subsidized steel imports, rising domestic steel output, improving business sentiment, and elevated price levels across the ferrous supply chain.

But the rapidly changing policy landscape has become a key driver for how the scrap industry, including the iron and steel scrap sector, will evolve going forward, impacting the industry’s on-going restructuring, trade flows, and investment in technology.

A tariff of at least 53 percent on all steel imports from 12 countries (Brazil, China, Costa Rica, Egypt, India, Malaysia, Republic of Korea, Russia, South Africa, Thailand, Turkey and Vietnam) with a quota by product on steel imports from all other countries equal to 100 percent of their 2017 exports to the United States, or 3.

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