July 2021

India’s Jindal Stainless plans major increase in melting capacity

Indian steelmaker Jindal Stainless (JSL) plans to add 1 million tonnes per year to its melting capacity with a major brownfield project scheduled for completion in late 2023, the company said this week.

FOCUS: China's copper scrap import has almost doubled, so why does secondary output lag?

Chinese importers have been buying double the copper scrap from overseas under the category of 'recyclable copper material', yet its growth in secondary copper production is relatively modest.

DAILY STEEL SCRAP: Prices continue to fall with fresh US cargo deal

Turkish deep-sea scrap import prices have fallen due to a United States cargo deal completed at a low price, sources told Fastmarkets on Thursday July 29.

PEOPLE MOVES: Tom Bird becomes chief trading officer at Chinese recycler Chiho

Recycling firm Chiho Environmental Group (CEG) has appointed experienced scrap industry figure Tom Bird as chief trading officer, the company announced on July 27. The appointment was effective from July 1.

CHINA STEEL SCRAP: Buyers hold back despite strong recovery in futures

The market for imported steel scrap into China remained quiet on Thursday July 29 despite contracts for rebar and hot-rolled coil on the Shanghai Futures Exchange rising sharply, sources told Fastmarkets.

NEWSBREAK: China to increase export taxes on pig iron, ferro-chrome

China will raise its export tariffs on ferro-chrome and high-purity pig iron from August 1, its Ministry of Finance said on Thursday July 29.

Turkey snaps up second US scrap cargo

Plentiful supply of ferrous scrap on the United States East Coast continued to weigh heavily on deep-sea export prices to Turkey, with a Turkish mill securing a cargo at a discount of $4-9 per tonne compared to the last-reported US sale.

JAPAN STEEL SCRAP: Local mills reduce intake but low supply supports prices

Summer maintenance work at steel mills was continuing across Japan but reduced generation volumes and strong prices paid by South Korea were continuing to support export scrap prices, sources told Fastmarkets on Wednesday July 28.

DAILY STEEL SCRAP: Prices down in fresh US deal amid weak steel sales

Turkish deep-sea scrap import prices fell sharply with the United States cargo deal announced on Wednesday July 28, sources told Fastmarkets.

CHINA STEEL SCRAP: Demand muted but strong offers persist

The spot market for imported scrap into China remained quiet on Wednesday July 28 due to Japanese sellers offering cargoes at prices much higher than buyers’ ideas of acceptable price levels, sources told Fastmarkets.