Major RCP suppliers are relocating tonnage from SEA to India, sapping the availability in the SEA market

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.

Steel billet buyers in China have continued to make import purchases in recent days amid expectations that further domestic production cuts will be imposed at the start of next year, sources told Fastmarkets on Tuesday September 7.

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.

Prices for shredded steel scrap into Pakistan and India have decreased in the week to Friday August 27, sources told Fastmarkets.

Low-volatility pulverized coal injection (PCI) prices in both the fob and cfr market jumped following price gains in coking coal the week to Friday August 27. And a shortage of railway wagons in Russia has delayed the transport of PCI to China, sources said.

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