Import prices for ferrous scrap in Vietnam are still increasing due to a strengthening downstream steel market, though the rate of increase has slowed, sources told Fastmarkets on Friday April 9.

Following initial research and consultation among market participants, Fastmarkets proposes to launch a weekly price assessment for ferro-niobium, delivered consumer works Europe, duty paid.

Spot prices for imported ferrous scrap in China were stable on Friday April 16 even with Chinese steel mills continuing to seek out cargoes of HRS101, the Chinese grade for plate and structural scrap.

Turkish deep-sea scrap import prices have made a downward correction with the latest cargo sold from Europe, sources told Fastmarkets on Thursday April 1.

Increasingly higher bulk freight rates have resulted in deep-sea cargoes of ferrous scrap being offered at higher prices to Bangladesh in the past week, sources told Fastmarkets on Thursday August 20.

The latest news and price moves to start the Asian day on Wednesday September 19.

A key topic reverberating around the Asian steel market over the past month has been the possibility of China reducing steel export rebates to 9% from the current 13%, or possibly axing them altogether.

Prices for higher grades of steel scrap exported from Japan continued to increase over the past week, underpinned by a strong appetite in the domestic market, sources told Fastmarkets this week.

China will remove the export tax rebate for some steel products from May 1, the Ministry of Finance said on Wednesday April 28.

The supply shortage in the European steel market, which has been driving up domestic prices since late 2020, will persist until the end of this year at the very least, market sources told Fastmarkets.