Import prices for ferrous scrap in Vietnam are still increasing due to a strengthening downstream steel market, though the rate of increase has slowed, sources told Fastmarkets on Friday April 9.

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.

Nickel continued to reach its highest prices in a month while the rest of base metals on the London Metal Exchange were marginally higher on Thursday April 8, with the prospect of more economic stimulus and supportive fiscal measures in the United States boding well for equity markets and metal futures.

London Metal Exchange futures prices for copper, nickel, zinc and tin started the week with gains on Tuesday April 6, following positive economic data released in the United States and China on Monday.

US President Joe Biden’s $2-trillion infrastructure and jobs package is being applauded by domestic steelmakers and the United Steelworkers union.

Britishvolt, a United Kingdom-based lithium-ion battery producer, has initiated fundraising plans in the United States to support its gigaplant project in Northumberland, UK, it said on Thursday April 1.

The key containerized ferrous scrap import market of Taiwan continued to witness price gains this week amid tight supply of United States- and Japan-origin materials, sources told Fastmarkets.

Base metals prices on the London Metal Exchange were mainly weaker this morning, Thursday April 1, and those on the Shanghai Futures Exchange were more mixed, while markets contend with cross winds.

Base metals prices on the Shanghai Futures Exchange were weaker on Wednesday March 31, while they track the movement of three-month prices on the London Metal Exchange on Tuesday, but LME prices have found support this morning.

Turkish deep-sea scrap import prices edged up on Tuesday after firm offers from the Baltic Sea region, although many mills were looking to achieve further rebar sales in the export and domestic markets before purchasing more scrap, sources said on March 30.