March 2022

Rio Tinto starts up new aluminium recycling furnace in Canada

Rio Tinto has commissioned a new remelt furnace at its Laterrière plant, adding 22,000 tonnes of recycling capacity to its aluminium operations in the Saguenay - Lac-Saint-Jean region of Quebec, Canada.

Turkish mills book more deep-sea scrap for May, prices fairly stable

Turkish steel producers have resumed their deep-sea steel scrap bookings for May shipments at fairly stable prices, market participants told Fastmarkets on Thursday March 31.

Russia approves near three-fold increase of scrap export duty above 810,000 tonnes quota

Russia's customs tariff sub-commission of the Ministry of Economic Development has backed a proposal by the country's Ministry of Industry and Trade to increase the duty for ferrous scrap exports exceeding the tariff quota of 810,000 tonnes, the Ministry of Economic Development announced on Thursday March 31.

Ramadan fasting to dull Bangladesh scrap purchasing through April

Containerized scrap prices in Bangladesh were supported in the week to Thursday March 31 by buyers looking to replace bulk cargoes with smaller quantities, while Taiwanese scrap prices fell due to weaker demand as end users reduced their purchasing activity.

Japan steel scrap market optimistic about continuing price strength amid battle for tonnages

Prices for steel scrap exported from Japan are likely to remain well supported over the coming weeks due to a continuing battle for material between domestic buyers and the dockyards, sources told Fastmarkets this week.

Proposal to amend frequency of China import steel scrap indices

Fastmarkets proposes to amend the frequency of its China import steel scrap indices to weekly from twice a week currently.

European FeTi market rally slows, but firm underlying support seen

The rally in the European ferro-titanium market is slowing, with the price up only slightly over the week to Wednesday March 30, in line with a pause in demand from consumers in the steel sector, trade sources told Fastmarkets.

Turkish steel scrap import market silent again

The Turkish deep-sea steel scrap market has turned quiet once again after a downward correction in prices, market participants told Fastmarkets on Wednesday March 30.

Russia considers temporary near three-fold increase of ferrous scrap duty

Russian steel market participants are mulling over a possible temporary increase to the existing duty imposed on ferrous scrap exports, up to €290 ($320) per tonne from €100 per tonne, to help domestic producers.

Upward pressure continues in Mexican steel scrap market

Ferrous scrap prices in Mexico’s steelmaking regions of Bajio and Monterrey were pressured upward again in the week ended Friday March 25, with buyers struggling to secure volumes.