March 2021

IN CASE YOU MISSED IT: 5 key stories from March 23

Here are five Fastmarkets stories you might have missed on Tuesday March 23 that are worth another look.

Mexican steel scrap prices keep rising on strong busheling demand

Ferrous scrap prices in Mexico went up another level in the week ended Friday March 19, amid a continuing rally in prime scrap values.

DAILY STEEL SCRAP: Plunge in lira value brings market to halt

Turkish steelmakers have continued to hold back from the deep-sea scrap import markets after the unexpected sacking last weekend of the governor of the country’s central bank, which caused a sharp decrease in the exchange-rate value of the lira, market sources said on Tuesday March 23.

Asia billet-scrap spread hits record high on freight issues, China demand

Bulk freight problems and strong billet demand from China have led to a sharp rise in the steel billet-scrap spread in recent weeks, Fastmarkets pricing data shows.

CHINA STEEL SCRAP: Japan sellers eye higher prices amid China steel rebound

Japanese scrapyards are eyeing higher import prices for heavy scrap (HS) in China before offering material again amid rebounds in Chinese domestic billet prices before offering cargoes again, industry sources told Fastmarkets on Tuesday March 23.

IN FIGURES: Japanese, S Korean scrap form bulk of China’s imports in January-February

China imported 7,106 tonnes of recycled steel raw materials in the first two months of 2021, up by 1,274% from a year earlier, according to data from the country’s customs agency.

INTERVIEW: LME proposals rehash old issues, don’t prioritize user needs - IWCC president

The process at the heart of proposals to overhaul the London Metal Exchange’s market structure is problematic and suggests the exchange is not putting its users first, the president of the International Wrought Copper Council (IWCC) said.

DAILY STEEL SCRAP: Deep-sea trade halted after bank chief sacking crashes Turkish currency

Steelmakers in Turkey stepped back from the deep-sea scrap market after the unexpected sacking of the head of the country's central bank sent the Turkish currency into freefall, sources told Fastmarkets on Monday March 22.

LME discussion paper proposals would not serve physical market - IWCC

The proposals included in the London Metal Exchange’s discussion paper would not serve the needs of the physical market and could have a negative impact on copper and copper alloy semis-fabricators, the International Wrought Copper Council (IWCC) said.

TURKEY DOMESTIC STEEL SCRAP: Lira's plunge shakes market after central bank chief is sacked

Turkish domestic scrap prices have continued to soften over the past week due to falling values for imported scrap, while several mills have stopped buying material due to the plunge in the value of the country’s lira, market sources said on Monday March 22.