An increase in the number of physical scrap cargoes offered in key import market Vietnam in the the week to Thursday December 31 has dampened sentiment, market sources told Fastmarkets.

Fastmarkets proposes to make two amendments to the specifications of its daily price for steel billet, import, cfr Southeast Asia.

The new coronavirus strain found in the United Kingdom has raised fears of scrap supply shortages which could feed the runaway prices in Asia, market sources told Fastmarkets in the week to Thursday December 24.

Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.

Base metals prices on the Shanghai Futures Exchange were mainly lower this morning, Wednesday December 23, while those on the London Metal Exchange were mixed.

Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin.

Steel scrap prices have risen again across all major consumer markets over the past week, driven by solid demand and constrained supplies.

The price of shredded steel scrap imported jumped by almost $30 per tonne on Friday December 18 due to continued tightness in container availability and a strong international market, sources told Fastmarkets.

Surging scrap and steel markets around the world are providing much support to ferrous scrap import prices in Vietnam, sources told Fastmarkets in the week to Friday December 18.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally firmer this morning, Wednesday December 16, with prices holding up in high ground, backed by optimism that vaccines will lead to stronger recoveries next year, while the weaker dollar and concerns about inflation were also supportive.