November 2021

Turkish vehicle scrap prices rise further on weakening lira, ship scrap stable

Turkish domestic auto bundle scrap prices have continued to increase amid further losses in the exchange rate for the country’s currency, although ship scrap prices have been stable because they trade in US dollars, market participants told Fastmarkets on Monday November 22.

South Korean Al imports rise 9.4% y-o-y in Oct

South Korean aluminium imports rose on both a month-on-month and year-on-year basis in October, according to data released by the Korea Customs Service last week.

Five key stories from November 19

Here are five Fastmarkets stories you might have missed on Friday November 19 that are worth another look.

Price dips tempt buyers back to steel scrap export markets

Importers of ferrous scrap were lured back to market in the week ended Friday November 19 by lower prices, which were precipitated by a period of lackluster buying activity.

Market weakness prompts fall in steel scrap prices in India, Pakistan

Prices for shredded steel scrap imported into Pakistan and India moved down after both markets weakened in the seven days to Friday November 19, sources told Fastmarkets.

UK light iron scrap market readies for new multi-year high

The United Kingdom inter-merchant light iron steel scrap spot price was steady for the third consecutive week on Friday November 19, but strong demand is expected to push up prices by the end of the month against relatively tight supply, trade sources said.

Reduced port congestion dragging down global bulk freight rates

Bulk freight rates for key steel products have receded over recent weeks amid shrinking port congestion in China and improved vessel availability, sources have told Fastmarkets.

Turkish mills end the working week with five deep-sea scrap cargo deals

Turkish steel scrap import prices recovered with a fresh European cargo deal heard at the end of the week, market participants told Fastmarkets on Friday November 19.

Wide bid-offer gap prevents fresh South Korean deep-sea scrap deals

A large gap between bids and offers for deep-sea steel scrap imported into South Korea has blocked any chance of deals for the material in the past week, sources told Fastmarkets on Friday November 19.

Taiwanese steelmakers return to spot market after brief absence

Taiwanese buyers of imported containerized ferrous scrap from the United States have returned to the spot market after a brief absence last week to wait out price falls.