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Russia’s invasion of Ukraine in February will have a profound effect on flows of material in global metal markets in the long term; in the short term the consequences have been extraordinary
Turkish mills have been forced to pay $6 per tonne more for United States-origin ferrous scrap with the extreme curtailment of Black Sea billet shipments into global markets acutely intensifying demand for Turkish material, and there are more hefty increases for US ferrous scrap export prices on the horizon, sources told Fastmarkets
Key Asian markets Taiwan and the Philippines will have to rely more on higher-priced steel billet from Southeast Asia if they can no longer procure Russian material amid the ongoing Russia-Ukraine conflict, according to sources
Rail services for Vale’s Carajás operations are suspended after heavy rain caused a landslide at the Estrada de Ferro de Carajás (EFC) railway at the KM378+200 stretch, in the municipality of Bom Jesus das Selvas, in the Brazilian state of Maranhão
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