Improving demand for finished and semi-finished steel products across the major outlets has increased scrap prices in the major markets over the week to Friday November 13.

A lack of offers in the market from suppliers, together with worsening problems with container freight, combined to raise Taiwan import scrap prices in the week to Friday November 13.

Fast-rising costs for container freight on a number of major shipping routes are causing disruption in trade flows for minerals and metals alike, sources told Fastmarkets on Thursday November 12.

Hot-rolled coil prices in the United States have inched up further amid tight supply, but market participants questioned how long the recent high prices would last.

A radical shake-up of the European Union's waste shipment regulations could lead to a total ban or the implementation of controls on scrap metal exports from the territory, Fastmarkets understands.

Hot-rolled coil spot prices in the United States have surpassed $35 per hundredweight for the first time since March 2019.

Though confirmed deals lowered hot-rolled coil prices in the United States on Friday November 6, the spot market may well hit $35 per hundredweight ($700 0per short ton) soon due to limited availability and rising raw material costs, according to sources.

Hot-rolled coil prices in the United States are within striking distance of $35 per hundredweight amid speculation that January order books could be opened at substantially higher figures.

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly stronger this morning, Tuesday November 3, after markets were encouraged by generally robust manufacturing purchasing managers’ index (PMI) data that came out on Monday.

As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in October 2020.