Bangladeshi steelmakers are likely to re-enter the market soon for purchases of deep-sea scrap cargoes due to low inventory levels, sources told Fastmarkets on Thursday December 31.

An increase in the number of physical scrap cargoes offered in key import market Vietnam in the the week to Thursday December 31 has dampened sentiment, market sources told Fastmarkets.

The price increases for imported containerized ferrous scrap into Taiwan eased in the week to Thursday December 31 amid a year-end holiday lull.

Hot-rolled coil prices in the United States were stable on Wednesday December 30 compared with recent days.

Hot-rolled coil prices in the United States dipped marginally on Tuesday December 29, moving just 7 cents per lb below the more than 12-year high reached a day earlier.

The United States Commerce Department is making changes to the way it administers the Section 232 tariff exclusion process.

Hot-rolled coil prices in the United States continue at record highs, with tags at or above $50 per hundredweight ($1,000 per short ton) - a level last seen during the bull rush of 2008.

Import prices for containerized ferrous scrap into Taiwan continued on an uptrend in the week to Thursday December 24 amid limited supply and strong demand.

The new coronavirus strain found in the United Kingdom has raised fears of scrap supply shortages which could feed the runaway prices in Asia, market sources told Fastmarkets in the week to Thursday December 24.

Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.