April 2022

Steel trade case monitor for Feb-Apr 2022

While competition in the global steel markets remains fierce, unprecedented sanctions imposed by western countries on Russia for invading Ukraine and Belarus for helping in it, caused tectonic changes in traditional steel trade flows, affecting global steel prices.

Global steel scrap prices weaken amid oversupply, low steel sales

Steel scrap prices in key markets - including Asia, Turkey and the United States - have softened over the past week due strong supply, poor buying interest and limited sales of finished steel, Fastmarkets heard on Friday April 29.

India, Pakistan steel scrap markets fall in line with demand, weaker Turkey

Prices for steel scrap imported into India and Pakistan dropped in the week to Friday April 29 in line with demand from domestic steel mills and weaker prices into key buyer Turkey, with further losses expected in the near term, industry sources told Fastmarkets.

Turkish mills end the week with sole scrap cargo deal

Turkish steelmakers have ended the working week with a single deep-sea scrap cargo deal ahead of Eid-al Fitr on May 2-3, market participants told Fastmarkets on Friday April 29.

Hydro announces tender offer for 100% of shares in recycler Alumetal

Norsk Hydro has put in a tender offer for the acquisition of 100% of the shares of Polish recycling company Alumetal, the former announced on Friday April 29.

UK domestic light iron scrap market pulled down by weaker exports

The light iron scrap market in the United Kingdom fell by more than 10% in the week to Friday April 29 in line with weaker export markets into key destinations such as Turkey and the Indian subcontinent, trade sources said.

China scrap prices weaken amid improvement in logistics

Spot prices for both domestic and imported scrap in China weakened slightly in the week ended Friday April 24 amid an improvement in logistics, sources told Fastmarkets.

Taiwan scrap import prices dive amid frantic sell-off

Spot steel scrap prices in Taiwan plunged in the week to Friday April 29, with sellers rushing to sell cargoes amid overwhelmingly bearish market sentiment, sources told Fastmarkets.

Vietnam scrap sees sharp price falls amid earnest selloff

Spot prices for imported ferrous scrap into Vietnam experienced sharp falls this week amid pessimistic market sentiment and low demand from buyers, with sellers cutting offers to track the Turkish import market.

Bangladesh bulk scrap price sinks below $600 per tonne cfr following buying drought

A long pause in buying deep-sea scrap cargoes in Bangladesh pushed market prices for bulk scrap imported to the country below $600 per tonne cfr in the week ended Thursday April 28, sources told Fastmarkets.