July 2020

DAILY STEEL SCRAP REPORT: Turkish mills extend their silence in deep-sea markets, prices likely to hold

The Turkish deep-sea ferrous scrap import market remained quiet, with mills in the country holding back from purchasing due to weak finished long steel sales, sources said on Thursday July 9.

Do oil prices still correlate with scrap and steel?

In light of the recent turmoil in the oil market, the Fastmarkets research team has closely examined the correlations between the price of oil and the prices for ferrous scrap and finished steel products, to discover nuanced relationships and their changes over time.

South Africa bans all scrap metal exports for two months

South Africa’s government has launched an investigation into how the supply of scrap metal has been affected by the challenges related to the Covid-19 pandemic, and has banned scrap exports for a period of two months beginning July 3.

BANGLADESH SCRAP: Import price rises on healthier demand

The price for cargoes of steel scrap imported to Bangladesh increased by $4 per tonne at the midpoint week on week following stronger demand for scrap in the South Asian nation, together with a revival of activity from Turkey.

VIETNAM STEEL SCRAP: Offers for Japanese supplies rise after Kanto auction

Offers prices for Japanese scrap to the key Vietnam import market have increased after the results of the July Kanto Tetsugen auction were announced on the morning of Thursday July 9.

TAIWAN STEEL SCRAP: Sentiment recovers following Kanto auction result, stabilization of Turkish prices

Import prices for containerized ferrous scrap in Taiwan started a recovery in the middle of this week amid increased demand, breaking an almost three-week downward streak.

JAPAN STEEL SCRAP: Offer prices rise amid tighter supply, bullish auction price

Export prices for Japanese steel scrap are showing clear signs of increasing again amid low supply following weeks of declines, market sources told Fastmarkets.

US stainless scrap price uptrend halts

After rising last week, stainless steel scrap prices in the United States have hit a wall even as the nickel cash contract on the London Metal Exchange climbed above $13,230 per tonne ($6 per lb) for the first time since late January.

US ferrous scrap export markets quiet

The US East Coast ferrous scrap export market has gone quiet with no cargoes sold over the past week, although an underlying stability was present while exporters worked to fill vessels to Turkey.

FERROUS WEBINAR: Steady hopes; downside lingers

Market participants in the US ferrous supply chain attending a Fastmarkets webinar on June 30 expected prices to be largely stable in the coming months, but benchmark indicators continue to track downward as an uneven reopening of the United States economy clouds the outlook.