March 2021

FOCUS: Volatility highlights lack of hedging mechanisms in European secondary aluminium alloy market

Fluctuating global prices and erratic downstream secondary aluminium consumption have market participants in Europe wondering how to manage risk through periods of volatility.

IN CASE YOU MISSED IT: 5 key stories from March 19

Here are five Fastmarkets stories you might have missed on Friday March 19 that are worth another look.

ISRI members 'adamantly oppose' LME margin change

Proposed changes to the London Metal Exchange’s margin methodology would have detrimental implications for collateral and credit lines, increase transaction costs and brokerage fees, and inhibit scrap recyclers’ ability to hedge, according to the non-ferrous division of the Institute of Scrap Recycling Industries (ISRI).

STEEL SCRAP WRAP: Global prices soften further on weak demand, freight issues

Global steel scrap prices continued to fall over the week ended Friday March 19, with market participants battling against the disruptions in the bulk freight sector.

UK STEEL SCRAP WEEKLY: Light iron price drops in line with deep-sea exports

The market for light iron steel scrap in the UK dropped in the week to Friday March 19, tracking a similar move in the European deep-sea export markets to Turkey and the Indian subcontinent, although British domestic supply tightness should support prices in the near term, sources told Fastmarkets.

SOUTH ASIA STEEL SCRAP: Prices tumble on weak market conditions

Prices for shredded steel scrap imported into India and Pakistan fell in the week to Friday March 19 due to weak market conditions and poor demand from buyers, sources told Fastmarkets.

DAILY STEEL SCRAP: Market nears bottom in absence of Turkish bookings

Turkish steel producers stayed out of the ferrous scrap market this past week, with no deep-sea bookings amid limited steel demand and increased supply of scrap, especially from the Baltic Sea, market participants told Fastmarkets on Friday March 19.

FOCUS: Tougher new measures in China could shake ferrous markets in 2021

The never-before-seen measures meted out by China’s Tangshan municipal government could cut hundreds of thousands of tonnes per day in steel output and hit raw material demand in 2021, market sources told Fastmarkets.

VIETNAM STEEL SCRAP: Lack of vessels create low spot liquidity

A lack of vessels at Japanese ports has resulted in low liquidity for imported ferrous scrap in the key market of Vietnam in the week to March 19, market sources told Fastmarkets.

TAIWAN STEEL SCRAP: Price plunge slows amid seller resistance

The recent price plunge for imported containerized ferrous scrap into Taiwan started to ease this week amid increasing seller resistance to slash offers further, sources told Fastmarkets during the week to Friday March 19.