Increasingly higher bulk freight rates have resulted in deep-sea cargoes of ferrous scrap being offered at higher prices to Bangladesh in the past week, sources told Fastmarkets on Thursday August 20.

July imports of steel scrap to South Korea increased both on a month-on-month and year-on-year basis following another strong month in June, according to data from the Korea International Trade Association.

Aluminium premiums in Japan dropped by an average of $2.50 per tonne to $175-190 per tonne on Friday August 13, from $180-190 per tonne on August 10, with low buying interest weakening demand in recent weeks.

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.

Spot prices for imported containerized ferrous scrap in Taiwan started rebounding in the week to Friday August 13 due to increasing seller reluctance to offer lower prices given the widening price gap with bulk cargoes, market sources told Fastmarkets.

Steelmakers in the United States are poised to benefit as countries race to meet pledges to reach net-zero carbon dioxide (CO2) emissions, according to the director of the US Department of Energy’s National Energy Technology Laboratory (NETL).

US-headquartered Cargill, one of the world's largest US agriculture players, has released its 2021 annual report and...

Stronger-than-expected United States employment figures on Friday August 6 turned the dollar higher, which weighed on prices, with most base metals weaker this morning, Monday August 9, but gold and silver underwent a ‘flash crash’ at the start of trading in Asia.

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.