The northwest European hot-rolled futures market continues to move into a steeper contango, as end users look to lock in forward prices which are low compared with their physical contract offers.

The daily Argus ICX 62pc iron ore index was at $108.75/dry metric tonne on 10 August, lower by 33pc from a year earlier.

The European scrap supply system is highly dependent on inland river transportation.

The longer the European scrap supply issue persists, the longer Turkish scrap import prices could remain at elevated levels.

Lead times for CRC rose slightly to 6 weeks from 5-6 weeks while HDG lead times edged down to 4-5 weeks from 4-6 weeks.

Brazilian alloy producer Ferbasa's ferro-chrome and ferro-silicon output continued to lag year on year in the second quarter.

Brazilian alloy producer Ferbasa's ferro-chrome and ferro-silicon output continued to lag year on year in the second quarter.

No Change YTD in 2022 from Same Period in 2021