May 2022

Delayed publication of Turkey steel scrap import indices

The publication of Fastmarkets' Turkey steel scrap import indices were delayed on Thursday due to a reporter error.

Turkish mill books deep-sea ferrous scrap cargo after inactive week

Turkish deep-sea ferrous scrap import prices edged higher on Thursday May 19 after a cargo was traded late on Wednesday.

Taiwan buyers bid lower for containerized steel scrap on weak demand

Spot prices for imported containerized ferrous scrap in Taiwan weakened slightly on Thursday May 19. Buyers have continued to submit lower bids for material due to the weak demand for scrap, according to market sources.

Turkish deep-sea scrap import prices continue to slide on lack of demand for finished steel

Turkish deep-sea scrap import prices continued to fall on Wednesday May 18, due to limited demand from Turkish steelmakers, which have now been struggling to sell their finished steel for more than a week, sources told Fastmarkets.

Taiwan steel scrap import market to reach bottom soon, sources say

Spot prices for imported containerized ferrous scrap in Taiwan were steady on Wednesday May 18 with many market participants saying that they expected the import price to reach a market bottom soon.

Turkish scrap import market quiet amid sluggish steel sales

Turkish steel mills continued to stay away from the deep-sea scrap import market amid sluggish long steel and billet sales, market participants told Fastmarkets on Tuesday May 17.

Bearish sentiment in Taiwan rebar market pressures down scrap prices

Spot prices for imported containerized ferrous scrap in Taiwan weakened slightly on Tuesday May 17 amid low demand for scrap due to bearish sentiment in its rebar market, according to market sources.

Ukraine-Russia war to 'drag on China's economic development'

The ongoing Ukraine-Russia war will be a long-term drag on China's economic and political developments until it is resolved, retired diplomat and think-tank chief Bilahari Kausikan said at the Singapore International Ferrous Week opening ceremony on Tuesday May 17.

China iron ore prices to depend on lockdown timings, steel exports likely to surge - Astris

The future price trends of iron ore will depend on the timings of China's Covid-19 controls, while Chinese steel exports may surge in 2022 to fulfil a deficit caused by the loss of Black Sea-origin steel supply, Astris Advisory's commodity strategist Ian Roper said at Singapore International Ferrous Week on Tuesday May 17.

Turkish domestic scrap prices further down on cheaper imports

Domestic scrap prices in Turkey continued to fall during the week to Monday May 16 amid weakening imported scrap values, market sources told Fastmarkets.