The Turkish steel mills continued to limit their deep-sea scrap bookings in the week ended Friday July 16 due to weak finished steel sales, while the downturn in the country had a knock-on effect on prices in the global markets.

Prices for shredded steel scrap imports into Pakistan and India were stable on Friday July 23 due to slow trading and public holidays, sources told Fastmarkets.

The Vietnam Steel Association (VSA) is leading an industry-wide pushback against the country’s proposed export tax of 5% on steel billet, it said on Friday July 23.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally stronger this morning, Friday July 23, the exception was lead on the LME that was down by 0.5%, but that was after a strong gain on Thursday.

Fastmarkets’ Asia ferro-silicon prices were published early today due to an editor error.

Base metals prices on the LME were up across the board this morning, Tuesday July 20, while the SHFE followed Monday's weakness, which was triggered by growing fears over the potential impact of the Delta variant of Covid-19 on the global economic recovery.

Traders grapple with high freight prices, Russian tax changes and extreme weather concerns. What does this mean for forward bookings of new crop Black Sea wheat?

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Monday July 19, with nickel and tin the standout performers, driven higher by supply disruptions.

Vietnam is proposing to impose a 5% export tax on steel billet, which could make offer prices from the country's mills uncompetitive in key Asian markets, sources told Fastmarkets on Thursday July 15.

With strong freight values and limited supplies available, how long will the bargains last?