Output of ferroalloys in China in July 2022 down 6.9% YoY.

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.

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

China's producer price index, which gauges factory-gate prices, increased 4.2 percent year-on-year in July, following a 6.1 percent rise from the previous month, the NBS said.

The 2209 ferrosilicon contract price on ZCE closed at 7520 yuan per ton on August 17.

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

The August Japan Kanto tender was settled on 10 August at an average of ¥42,061/t ($311.56/t) fas for H2, equivalent to ¥43,061/t fob.

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.