July 2021

Mexican steel scrap prices edge up but show signs of stabilizing

Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.

DAILY STEEL SCRAP: Mills stay away from deep-sea bookings

Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.

Rapid scaling-up of solar, wind energy crucial for carbon targets, BloombergNEF says

More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind and solar options, according to the New Energy Outlook 2021 report published last week by research consultancy BloombergNEF.

CHINA STEEL SCRAP: Production cuts weigh on buying interest

Import prices for HRS101-grade ferrous scrap into China were unchanged on Tuesday July 27 but steel production cuts dampened spot demand for the material, sources told Fastmarkets.

IN FIGURES: China’s ferrous scrap imports fall 31% in June

China imported 76,336 tonnes of ferrous scrap in June, a 31% drop from May, according to the latest Chinese customs data.

INTERVIEW: Recycling investments could raise Hydro earnings by $124 mln, CFO says

Norway-based aluminium and renewable energy producer Norsk Hydro hopes to increase annual earnings by as much as 1.1 billion krone ($124 million) through investments into recycling and the use of post-consumer scrap, according to chief financial officer Pål Kildemo.

DAILY STEEL SCRAP: Summer lull keeps market slow

Turkish steel producers started the week with no deep-sea trade after the holiday periods in the country, market participants said on Monday July 26.

STEEL SCRAP WRAP: Seasonal slowdown sends down prices in major markets [CORRECTED]

The Turkish steel mills continued to limit their deep-sea scrap bookings in the week ended Friday July 16 due to weak finished steel sales, while the downturn in the country had a knock-on effect on prices in the global markets.

STEEL SCRAP WRAP: Markets remain subdued, trading limited

Global scrap prices remained broadly stable over the week to Friday July 23; trading remains subdued due to public holidays and a resurgence of Covid-19.

UK STEEL SCRAP WEEKLY: Light iron market consolidates higher

The inter-merchant light iron scrap market in the United Kingdom was steady in the week to Friday July 23, consolidating small gains from the previous week amid strong domestic fundamentals, despite quiet export sales to key destinations such as Turkey and the Indian subcontinent, sources told Fastmarkets.