Global steel scrap prices surged in the week to Friday May 7 and could well break through the $500 per tonne cfr mark, starting in Asia, market sources have told Fastmarkets.

Indian demand for vegetable oils is expected to experience a sharp decline in May-June amid demand...

China's new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace.

Turkish deep-sea scrap import prices have increased sharply since China decided to remove the export tax rebate on some steel products. But demand among major scrap importers in Asia was still limited because of upcoming holiday periods in the region.

Major Indian steelmaker JSW Steel is reducing steel production to ensure that sufficient oxygen is sent from its plants to the healthcare sector to help combat the surge in Covid-19 cases in the country, it said this week.

Aluminium prices on the London Metal Exchange set fresh multi-year highs on Wednesday April 21, while copper and tin shied away from previous highs, and the rest remain rangebound this morning.

Major global steel scrap markets have started to level off in recent days following sharp increases in the preceding few weeks.

India is stepping back from importing ferrous scrap and aiming to become a more self-sufficient steelmaker. But what issues led to this change of tactics and how will it affect global scrap trade flows? Fastmarkets investigates.

Tata Steel’s recycling business in India is to offer domestically produced shredded material to the Indian market, adding to its existing offering, the company told Fastmarkets on Wednesday April 7.

Fastmarkets is proposing amendments to the specifications of its weekly price assessment for steel billet, import, cfr China.