January 2021

STEEL SCRAP WRAP: Prices yet to hit bottom in downward drive

Global ferrous scrap prices have yet to hit the buffers in their downward plunge. Buyers in Asia were holding back from purchases in the week ended Friday January 29, swooping in only for low-priced cargoes, but demand from China could support prices in the near term.

SOUTH ASIA STEEL SCRAP: Prices down in latest trades

The price of shredded steel scrap imported into India and Pakistan moved down in the week ended Friday January 29 on fresh trades heard in the market, sources told Fastmarkets.

DAILY STEEL SCRAP: Sentiment remains negative amid weak demand for rebar, steel billet

Turkish steel producers skipped deep-sea purchases on the last working day of the week, with sentiment still negative due to limited demand for rebar and steel billet, sources said on Friday January 29.

UK STEEL SCRAP WEEKLY: Light iron market dips amid weaker export prices

The price range for UK-origin light iron has dropped £5 ($5.65) per tonne in the week ending Friday January 29 after a fall in European deep-sea export markets to traditional buyers in Turkey in the past couple of weeks weighed on British scrap prices, trade sources said.

S KOREA STEEL SCRAP: Prices fall but sell-side resistance grows

Prices for import cargoes of steel scrap delivered to South Korea have continued to fall over the past week, but Japanese sellers are starting to resist further drops, sources said on Friday January 29.

China to receive three more Japanese scrap cargoes by early March

Three more Japanese scrap cargoes will land in China by early March, the China Iron & Steel Association (Cisa) said on Friday January 29.

VIETNAM STEEL SCRAP: Covid-19 resurgence dampens buying sentiment

A resurgence of Covid-19 in Vietnam and the continual price falls in the Japanese domestic scrap market have dampened buying sentiment in the week to Friday January 29, sources told Fastmarkets.

TAIWAN STEEL SCRAP: Buyers swoop on low-priced cargoes

Taiwanese scrap buyers are swooping on import cargoes offered at low prices by traders desperate to offload materials amid the constant prices falls during the week to Friday January 29, markets sources told Fastmarkets.

IN CASE YOU MISSED IT: 5 key stories from January 28

Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.

Shipping woes impede US scrap trade: ISRI

The shortage of container shipping is a “snowballing problem” that is impeding exports of scrap products from the United States, according to industry participants at a recent virtual meeting of the Institute of Scrap Recycling Industries (ISRI).