Hot-rolled coil prices in the United States have held above $40 per hundredweight ($800 per short ton) while the availability of spot tons remains limited, according to sources.

Hot-rolled coil prices in the United States climbed over $40 per hundredweight ($800 per short ton) for the first time since 2018 after more buyers chased fewer spot tons at the domestic mills.

A number of Chinese dealers and business entities are taking over Japanese scrapyards, or setting up scrap businesses in Japan, to secure sufficient supply of the steelmaking raw material for steel mills in China, market sources told Fastmarkets this week.

Global ferrous scrap prices continued on an upward trend due to supply tightness and strong demand by steelmakers in the week ended Friday November 27.

Vietnamese scrap buyers have continued sourcing import cargoes amid supply tightness and stable demand in the week to Friday November 27, market sources told Fastmarkets.

Hot-rolled coil prices in the United States have surged on confirmed buying activity and incredibly thin spot availability, prompting at least one electric-arc furnace (EAF) coil producer to quietly communicate a base price increase to customers, Fastmarkets has learned.

US copper scrap exporters are waiting to see how China’s new regulations affect the flow of scrap metal to the Asian country, which could have a significant impact on domestic copper scrap prices.

Hot-rolled coil prices in the United States have continued to climb amid an ongoing supply squeeze and robust overall market fundamentals, Fastmarkets has learned.

Improving demand for finished and semi-finished steel products across the major outlets has increased scrap prices in the major markets over the week to Friday November 13.

Fast-rising costs for container freight on a number of major shipping routes are causing disruption in trade flows for minerals and metals alike, sources told Fastmarkets on Thursday November 12.