June 2022

Turkish domestic scrap prices fall in response to cheaper imports

Domestic auto bundle and ship scrap prices in Turkey continued to decline over the past week due to the arrival of lower-cost imports, market participants told Fastmarkets on Monday June 20.

Turkish mills stay away from deep-sea steel scrap markets

Turkish steelmakers were quiet in the deep-sea steel scrap import markets on Monday June 20 following last week’s dramatic drop in prices, sources told Fastmarkets.

Three reasons behind China’s steel price rout

China’s domestic steel prices collapsed over the period Friday-Monday June 17-20 amid sparse demand, and with market participants believing that steel prices have yet to reach the market bottom.

Europe FeTi market buckles under weight of cheaper Russian alloy

The European ferro-titanium market is expected to weaken further in the near term after dropping last week for the first time since April 27 as a result of lower-priced Russian alloy flowing into Europe.

Singapore import rebar demand weak amid plunging raw material, long steel prices

Spot prices for imported rebar into Singapore were unchanged during the week to Monday June 20 amid a lack of firm spot price negotiations.

Five key stories from June 17

Here are five Fastmarkets stories you might have missed on Friday June 17 that are worth another look.

International oversupply, domestic price declines strain key steel scrap import markets

The major steel scrap import markets were under more pressure as a result of an excess of material globally as well as a decline in domestic scrap metal and steel prices in the week ending Friday June 17.

India, Pakistan steel scrap prices fall further, currencies weaken

Prices for steel scrap imported into Pakistan and India continued to fall during the week to Friday June 17 due to currency depreciation, a sharp drop in Turkish buying prices, and unusual bulk bookings.

UK domestic light iron scrap prices stabilize after recent losses

Light iron scrap prices in the UK domestic market were steady in the week to Friday June 17, stabilizing recent losses despite falling export prices. Although there may soon be a resumption in scrap price losses in the United Kingdom if the downward trend in British dockside markets persists, trade sources told Fastmarkets.

Turkish mills resume scrap bookings at lower prices

Turkish steelmakers broke their silence in the deep-sea steel scrap import markets on Friday June 17 following the downturn in the prices, market participants told Fastmarkets.