The theme surrounding the domestic market can be summed up in one word: confusing. While raw material prices show strength and supply continues to decline, a slowing of demand is causing buyers to hold off.
Despite the sharp decline in scrap pricing over the last two months, raw material pricing, as a whole, remains relatively firm. Iron ore pricing pushed back over $100/mt last week on the back of continued worry about further disruptions from the Vale mines in Brazil. Coking coal pricing has seen a boost as well of late, holding around $200/mt.