Turkish steel mills resumed their deep-sea scrap purchases for June shipments with another sharp increase in prices, market participants told Fastmarkets on Thursday May 5.

Fastmarkets will, on Friday May 7, launch a new weekly price index for the premium that high-quality 65% Fe blast furnace grade iron ore pellet commands on a spot basis above the 65% Fe Fines index.

Fastmarkets is adjusting the impurity ranges for its 65% Fe iron ore blast furnace pellet index from Friday May 7.

Fastmarkets is proposing to extend the delivery window for its price assessments of aluminium 6063 extrusion billet premiums in Europe.

The Turkish deep-sea scrap import market went quiet after the sharp increase in prices following China’s cancellation of export tax rebates on some steel products, market participants said on Tuesday May 4.

Global grain merchant Bunge has reported net income of $831 million in the first quarter of 2021, a recovery from a $184 million loss in the same quarter of last year...

With Chinese markets closed, volume traded on the London Metal Exchange has been light this morning, Tuesday May 4, with 2,368 lots traded as of 6.14am. But the base metals were holding up in high ground with gains averaging 0.7%, led by a 1.1% rise in copper to $9,916.50 per tonne.

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.

Brazilian flat steel producers are poised to raise domestic prices by 10-18% in May, due to rising global steel and raw materials values, along with resilient local demand, market participants told Fastmarkets this week.

The publication of Fastmarkets’ European aluminium scrap and secondary prices assessments for Friday April 30 have been delayed because of a technical issue.