June 2022

Cheap Russia-origin steel billet puts pressure on global scrap prices

Steel scrap prices in both Turkey and the major Asian markets were under pressure in the week to Friday June 10 amid increased availability of low-cost steel billet from Russia. China has benefited from cheaper offers from Japan, securing heavy scrap cargoes at $510 per tonne cfr China over the week, according to sources.

Indian scrap buyers look for lower prices amid weak finished steel market

Indian importers of steel scrap were looking for lower prices to reduce pressure from the current unfavorable situation in the finished steel market, Fastmarkets heard on Friday June 10.

Turkish scrap import prices crash $35/t on fresh cargo deal

Turkish steel mills broke their silence in the deep-sea steel scrap import markets on Friday June 10, sending prices tumbling once again, market participants told Fastmarkets.

UK domestic light iron scrap prices fall due to weakness in global market

Light iron scrap prices in the UK domestic market fell in the week to Frdiay June 10, under renewed pressure from weakness in the global market, sources told Fastmarkets.

China’s steel scrap import trade picks up, price dips

There was more buying interest for imported steel scrap in China in the week to Friday June 10 after sellers in Japan lowered their offer prices, with market sources reporting that buyers have secured 3,000 tonnes of heavy scrap from the island nation at $510 per tonne cfr north China.

Taiwan steel scrap import prices rangebound, but sentiment bearish

Spot prices for steel scrap in Taiwan were rangebound in the week to Friday June 10, but market participants held bearish views about the Taiwanese scrap import market.

Five key stories from June 9

Here are five Fastmarkets stories you might have missed on Thursday June 9 that are worth another look.

Turkish steel mills continue to shun deep-sea scrap

Turkish steelmakers prolonged their absence from the deep-sea steel scrap import market on Thursday June 9, in anticipation of further price declines, sources told Fastmarkets.

Bangladeshi steelmakers continue to book deep-sea scrap bulk cargoes at lower prices

Bangladeshi steel mills have continued their activity in the import market for bulk cargoes of steel scrap with fresh deals done this week at lower prices, sources told Fastmarkets on Thursday June 9.

Turkish mills continue to stay away from scrap imports

Due to weak finished steel sales and the growing availability of low-cost steel billet from Russia, Turkish steel mills continued to avoid deep-sea steel scrap import markets, sources told Fastmarkets on Wednesday June 8.