March 2020

FOCUS: Copper scrap suppliers put spot tonnages on hold on low metal prices

Spot availability of copper scrap is now being limited by a plummeting commodity price in March because suppliers have refused to destock at the price level.

INDIA LOCKDOWN: Import trading pauses while logistics nightmare strands material at ports

The lockdown in India has caused a variety of logistical issues resulting in imported scrap material becoming stranded at ports and leading to potentially large charges at a time when trading has come to a sudden halt, market sources have told Fastmarkets.

DAILY SCRAP REPORT: Indices crash for the third time in two weeks

Turkish deep-sea scrap import prices fell sharply for the third time in two weeks amid the Covid-19 pandemic, which has brought steel trade to a halt and led to closures or production cuts, sources said on Monday March 30.

WEEKLY SCRAP WRAP: Prices crash further amid Covid-19 outbreak

Global ferrous scrap prices continued to fall sharply in major markets during the working week from Monday March 23 to Friday March 27, because of the worsening Covid-19 pandemic.

TURKEY FERROUS SCRAP: Local prices down on decline in import values

Turkish domestic scrap prices have continued to fall in the past week, in line with the sharp downturn in imported scrap values due to the Covid-19 virus outbreak, sources said on Monday March 30.

EMR announces cuts in UK operations due to coronavirus

European Metal Recycling (EMR) has shut down part of its operations in the UK due to the Covid-19 virus outbreak, the company said on its website on Friday March 27.

AT A GLANCE: JFE Steel faces zero profit for first time in history

Major Japanese steelmaker JFE Steel is facing the prospect of recording zero profit for the year ending March 2020 for the first time in its history due to global economic tensions and rising raw materials prices, it warned on Friday March 27.

China ferrous scrap prices plunge on destocking

China’s domestic prices for steel scrap decreased over the past week on bearish sentiment and destocking by sellers, market participants said.

Key takeaways from the latest Steel Raw Materials Weekly Market Tracker

The latest forecasts from Fastmarkets' team of analysts is ready to view.

Increasing risk of Covid-19 infections keeps Singapore rebar buyers away

The increasing risk of Covid-19 infections in Singapore has kept rebar buyers from the island state away from the import markets, according to market participants.