Turkish deep-sea scrap import prices went down further at the end of the week on the news of a fresh US booking, market participants told Fastmarkets on Friday May 28.

Turkish steel mills skipped the second working day of the week with no deep-sea bookings amid negative signals from the Chinese steel industry, market participants told Fastmarkets on Tuesday May 25.

Market chatter about China possibly imposing new export taxes for steel as part of commodity price cooling measures has been rampant in the past week, causing traders and market participants to re-think their trading strategies, and overseas buyers to consider a potential supply shortfall.

Turkish steel producers skipped the last working day of the week with no deep-sea bookings, market participants told Fastmarkets on Friday May 21.

Panic selling in the major Vietnamese hot-rolled coil import market has let prices dip below $1,000 per tonne cfr Vietnam for SAE1006-grade materials this week, sources said on May 21.

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Turkish steel mills remained absent from the deep-sea market on Friday May 14 as a result of the post-Ramadan Eid al-Fitr holiday, sources told Fastmarkets.

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After a consultation period, Fastmarkets has adjusted the delivery time specifications for its European hot-rolled coil (HRC) indices to accommodate longer-than-usual lead times.

Base metals prices on the London Metal Exchange were little changed and consolidating this morning, Wednesday May 12, this after some choppy trading in recent days.