January 2022

Turkish mills book more deep-sea scrap for March

Turkish steel producers have continued to book deep-sea scrap cargoes at a slow pace for March shipments, market participants told Fastmarkets on Monday January 31.

Pomina 3 fire could support long steel prices in Vietnam - sources

A fire at Vietnamese steelmaker Pomina 3 could support long steel prices in Vietnam in the near-term, sources told Fastmarkets on Monday January 31.

Global steel scrap markets remain stable amid robust demand

Turkish steel mills returned to the deep-sea scrap market in the week to Friday January 28, though overall demand was still limited. Exporters in the United States, meanwhile, enjoyed demand from Asian and Turkish buyers.

Indian steel sector calls for carbon capture, green procurement to support decarbonization

The Indian Steel Association (ISA) has called on the country’s government to implement a policy to prioritize the procurement of ‘green steel’ in public projects and encourage the adoption of financially viable carbon-capture mechanisms to support the sector’s decarbonization efforts.

UK light iron scrap market holds, supported by tight availability

The United Kingdom light iron price ended the first month of the year steady on Friday January 28, with persistently tight availability encouraging competitive offer prices by major shredders to secure regular intake, sources told Fastmarkets.

Turkish deep-sea scrap import markets quiet but negotiations continue

Turkish steel mills went quiet in the deep-sea steel scrap import market at the end of the week, but continued negotiations for further bookings, sources told Fastmarkets on Friday January 28.

Tight supply and firm demand shore up support for scrap in India, Pakistan

Prices for imported scrap in India and Pakistan were slightly higher in the week ended January 28 due to firm demand and tight availability, trade sources fold Fastmarkets.

S Korea scrap prices find support from strong steel markets

South Korean import scrap prices rose further during the week to Friday January 28, bolstered by firm demand for finished steel in the country’s steel markets, sources told Fastmarkets.

Vietnamese scrap buyers out in force to secure raw material for post-Tet Festival steel production

Vietnamese buyers of imported steel scrap were out in force in the week to Friday January 28, looking to secure both Japanese and United States-origin materials for after the Tet Festival.

Taiwan scrap continues uptrend on container shipment delays, stable demand

Spot prices for imported containerized ferrous scrap in Taiwan have continued increasing in the week to Friday January 28 amid limited supply and continued demand from buyers.