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An increase in the number of physical scrap cargoes offered in key import market Vietnam in the the week to Thursday December 31 has dampened sentiment, market sources told Fastmarkets.
The price increases for imported containerized ferrous scrap into Taiwan eased in the week to Thursday December 31 amid a year-end holiday lull.
The rapid and significant falls in manganese ore prices in 2019 and 2020 have created “frozen stocks,” which are believed to have acted as a buffer for the ore market while also demonstrating some different characteristics over both years, sources told Fastmarkets.
Hot-rolled coil prices in the United States were stable on Wednesday December 30 compared with recent days.
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