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.
10 June 2022
Cem Turken, Vlada Novokreshchenova, Amy Hinton, Tianran Zhao, Arthur Robert, Olivia Zhang
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.
10 June 2022
Vlada Novokreshchenova
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.
10 June 2022
Cem Turken
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.
10 June 2022
Ross Yeo
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.
10 June 2022
Tianran Zhao, Olivia Zhang
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.
10 June 2022
Tianran Zhao
Here are five Fastmarkets stories you might have missed on Thursday June 9 that are worth another look.
09 June 2022
Fastmarkets MB staff
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.
09 June 2022
Cem Turken
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.
09 June 2022
Lee Allen, Tianran Zhao
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.
08 June 2022
Cem Turken
