Import prices for ferrous scrap in Vietnam increased during the week to Friday May 7 on bullish sentiment in the spot market, and could break the $500-per-tonne-cfr-Vietnam mark for bulk cargoes, industry sources told Fastmarkets.

Steel scrap prices have risen again across all major consumer markets over the past week, driven by solid demand and constrained supplies.

Autumn-winter steel production restriction plans in northern China will start on October 1 and last until March 31, 2021, according to a draft plan on air pollution control released by the Ministry of Ecology & Environment (MEE) late on Tuesday September 29.

The key containerized ferrous scrap import market of Taiwan continued to witness price gains this week amid tight supply of United States- and Japan-origin materials, sources told Fastmarkets.

There is a feeling of déjà-vu in the copper market as the potential for production curtailments and closures rears its head once again

The price of shredded steel scrap imported into India and Pakistan crossed $400 per tonne on Friday December 11 as a result of high international prices and tight shipping availability, sources told Fastmarkets.

Steel scrap prices continued to surge this week due to sustained demand from buyers in all markets, with the exception of India. Downstream steel prices have supported raw material price increases in Asia, with buyers melting scrap to feed demand for billet and long steel products.

Demand for steel in the European Union is expected to rebound by 13.3% year on year in 2021 after a 13% slump in 2020, the European steel association Eurofer said this week.

Chinese steel scrap buyers have been absent from the import market due to the muted sentiment after some serious environmental inspections at steel mills in Tangshan yesterday, sources said on March 12.

China’s infrastructure spending has aided the steel market’s recovery from the effects of Covid-19 shutdowns and is very likely to facilitate “a great prospective” for the consumption of steel and ferro-alloys used in infrastructure, delegates heard at Fastmarkets’ “Covid-19 and Asian ferro-alloys market” webinar on Tuesday June 30.