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Prices for cargoes of steel scrap imported into South Korea have dropped over the past week amid lower demand from mills that will take rounds of maintenance during the next few months, sources told Fastmarkets on Friday September 18.
Talks between United Steelworkers union Local 1016-3 and NLMK USA management in Farrell, Pennsylvania, have advanced somewhat, with some tentative progress regarding health insurance benefits; but several issues remain outstanding and won’t be addressed until next week, when talks are expected to resume, one union leader said.
Hot-rolled coil prices in the united States have clawed their way back to $28.50 per hundredweight ($570 per short ton) for the first time since automakers temporarily idled operations in response to the Covid-19 outbreak.
Some brass scrap prices in the United States rose in the week to Wednesday September 16 due to increased demand; meanwhile, certain copper scrap discounts tightened marginally even as the Comex copper price stayed above the $3-per-lb mark.
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