The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.

Steelmakers in South Korea have been priced out of the deep-sea scrap market following deals by mills in Vietnam and Bangladesh over the past week, sources told Fastmarkets on Friday September 17.

Turkey returned to the deep-sea steel scrap market with renewed vigor in the week to Friday September 10 although regional mills kept their prices stable at lower levels while those in Asia went up on healthy demand over the period.

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.