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.

Some 73% of the all-time record 17.4 million mt of soybeans exported from Brazil in April were bound to China, with the...

Turkish steel producers continued booking deep-sea scrap for June shipment despite fast-rising prices, sources told Fastmarkets on Thursday May 6.

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 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.

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.

Sustained demand for containerized ferrous scrap imports in the key Taiwanese market should continue to support prices in the near term, market sources told Fastmarkets.

Magnitogorsk Iron & Steel Works (MMK) has confirmed plans to resume hot-rolled coil production at its MMK Metalurji subsidiary in Turkey in the third quarter of 2021.

Turkish steel producers continued to push for lower deep-sea scrap prices, while suppliers in the Baltic Sea and United States continued to maintain higher offers, market participants told Fastmarkets on Tuesday April 20.