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Turkish steel producers continued booking deep-sea scrap for June shipment despite fast-rising prices, sources told Fastmarkets on Thursday May 6.
The price of copper has hit $10,000 per tonne once before, but this time around things are different.
Base metals prices on the London Metal Exchange were a bit more mixed this morning, Thursday May 6, while the return of trading on the Shanghai Futures Exchange after the Labor Day holidays saw good gains in all metals apart from zinc.
China’s new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace.
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