Interest for ferrous scrap imports in Vietnam has increased during the week to Friday September 10 due to rebounding billet prices in China, sources told Fastmarkets.

Poor demand in key import markets in Turkey and Asia continued to pull steel scrap prices downward in the week ended Friday September 3. High freight costs and a lack of container ships also damped spot trading liquidity.

Turkish mills were largely inactive in the import scrap market over the week ended Friday August 27, while prices in key Asian markets were affected by the low levels of interest among mills for imported cargoes.

The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further cutback in free days.

Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.

Increasingly higher bulk freight rates have resulted in deep-sea cargoes of ferrous scrap being offered at higher prices to Bangladesh in the past week, sources told Fastmarkets on Thursday August 20.

July imports of steel scrap to South Korea increased both on a month-on-month and year-on-year basis following another strong month in June, according to data from the Korea International Trade Association.

Fastmarkets today launches two daily indices for cfr China ferrous scrap prices, reported on a US-dollar-per-tonne basis.

Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.

Spot prices for imported containerized ferrous scrap in Taiwan started rebounding in the week to Friday August 13 due to increasing seller reluctance to offer lower prices given the widening price gap with bulk cargoes, market sources told Fastmarkets.