Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.

Steel scrap prices in the key global markets moved down over the week to Friday August 6 with demand for material remaining tepid.

Spot prices for imported containerized ferrous scrap in Taiwan continued on a downward trend in the week to Friday August 6 amid the current buyers’ market caused by poor demand, market sources told Fastmarkets.

The Turkish steel mills continued to limit their deep-sea scrap bookings in the week ended Friday July 16 due to weak finished steel sales, while the downturn in the country had a knock-on effect on prices in the global markets.

Prices for shredded steel scrap imports into Pakistan and India were stable on Friday July 23 due to slow trading and public holidays, sources told Fastmarkets.

The steel and metals industries stress that their products are key to enabling solutions to address global environmental priorities. Myra Pinkham gathers international views on progress in ‘green’ transformation and asks what today’s environmental goals imply for industrial production and future demand

Turkey’s state-backed grain importer TMO is expected to pick up at least 13 cargoes from a 440,000 mt barley import buy tender…

European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry’s segments are struggling from material shortage and, consequently, high prices.

Global scrap prices in the key markets diverged in the week to Friday June 18, with those in Asia moving upward, while Turkish scrap prices fell amid slow buying driven by uncertainty over finished steel sales.

With long steel prices in Europe reaching historically high levels, construction activity is slowing in some regions due to reduced supplies and delays, with some market sources fearing a decline in industrial activity long term.