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Chinese rebar remained the most competitively priced of imports of the long steel product in Singapore over the past week, edging out Turkish products.
The discount for copper scrap imported into China has fallen in February on a lower commodity price and a negative arbitrage, with the impact of virus-led delivery delays on the overseas scrap price being minimal in the Chinese market.
The market for high-carbon ferro-chrome delivered into Europe strengthened for the fifth consecutive week on Friday February 21 in response to tightening supply and despite the weak stainless-steel sector.
Chinese domestic portside ore prices of both grades moved lower for the second consecutive week after some ore traders slashed their offer prices to facilitate sales in response to persistently weak buying appetite.
Vanadium prices were under pressure in the week to February 21 amid weak consumer demand, despite continued supply disruptions in China following the novel coronavirus (nCoV-19) outbreak.