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Market chatter about China possibly imposing new export taxes for steel as part of commodity price cooling measures has been rampant in the past week, causing traders and market participants to re-think their trading strategies, and overseas buyers to consider a potential supply shortfall.
A handful of recent cargoes of shredded steel scrap have successfully cleared through Chinese ports, raising hopes across the market that China may start to import more of this key material grade in the near future.
Egypt’s state grain buyer has booked 240,000 mt of Romanian milling wheat for import via a tender that closed Tuesday…
Turkish steel producers continued to book deep-sea scrap for July shipments at higher prices on Monday May 24 even as market sentiment turned negative, sources told Fastmarkets.
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