March 2021

VIETNAM STEEL SCRAP: Buyers turn to deep-sea cargoes amid Japan shortage

Vietnamese buyers have been seeking bulk deep-sea ferrous scrap to make up for a lack of supply from Japan, market sources told Fastmarkets.

TAIWAN STEEL SCRAP: Price rebound begins amid limited Japanese supply

A price rebound for imported containerized ferrous scrap into Taiwan started during the week to Friday March 26 amid a lack of offers for both United States- and Japan-origin cargoes, sources told Fastmarkets.

DAILY STEEL SCRAP: Prices down $24 per tonne on news of latest UK trade

Turkish scrap import prices have gone down, as expected, with news of a UK cargo being sold at the end of last week coming to light on Thursday March 25.

Suez Canal remains blocked, stiff freight rate hikes expected

Global freight markets have been plunged into further chaos this week with the continuing blockage of the Suez Canal now accompanied by rumors of fresh freight rate hikes around the world, sources told Fastmarkets.

EU GREEN STEELMAKING: British Steel increases scrap use to cut carbon emissions

British Steel is increasing the use of scrap in its steelmaking process to reduce its carbon emissions, alongside investments in new equipment, the company said on Wednesday March 24.

DAILY STEEL SCRAP: Collapse of Turkish lira leaves market quiet

Turkish steel mills remained absent from the deep-sea scrap import market on Wednesday March 24, due to the slump in the value of the lira and weak steel demand, market participants told Fastmarkets.

TITANIUM SNAPSHOT: Steelmakers issue firm Q2 bids; spot prices on hold

Key data from Fastmarkets’ pricing session in Europe on Wednesday March 24.

JAPAN STEEL SCRAP: Prices close to bottom with suppliers holding back offers

Japanese steel scrap suppliers are limiting the volume of material they are offering to the market, in the expectation of a short-term recovery in prices, sources told Fastmarkets on Wednesday March 24.

CHINA STEEL SCRAP: Trading stalemate remains amid mills' disinterest, lack of offers

The trading stalemate in the Chinese ferrous scrap import market has remained over the past day, with buyers keeping their distance from purchasing amid limited offers from sellers.

Suez Canal blockage adds further problems for global freight market

A major blockage of the Suez Canal by a large container ship, leading to a vessel traffic jam, is adding to disruption in the global bulk freight markets.