In the closing session of this year’s International Ferroalloys, which was held virtually November 9-11, Fleur Ritzema, global minors, ores and alloys editor at Fastmarkets, and Fastmarkets' analysts Amy Bennett and Robert Cartman summed up the key market drivers for the rest of 2020 and beyond.

Chinese steelmakers looking to replenish steel scrap stocks after returning from their new year holiday on Thursday February 18, have raised bid prices for both domestic and imported material, sources told Fastmarkets.

Improving demand for finished and semi-finished steel products across the major outlets has increased scrap prices in the major markets over the week to Friday November 13.

Increasing scrap flows and bearish appetites led to softer prices in the majority of international steel scrap markets in the week to Friday March 12.

Czech steelmaker Trinecké Železárny plans a major overhaul of one of its two operational blast furnaces this summer, with the aim of reducing its carbon footprint by cutting emissions, the company said this week.

Prices for shredded steel scrap imported into India and Pakistan trended downward in the week to Friday March 26 as a result of slow trading activity and weak demand, sources told Fastmarkets.

The latest forecasts from Fastmarkets’ team of analysts are ready to view.

Prices for shredded steel scrap imported into India and Pakistan were largely unchanged over the week to Friday March 5 on lackluster interest among mills, sources have told Fastmarkets.

Steel inventories at member mills of the China Iron & Steel Association (Cisa) and in the spot market both increased in early October, although mills cut crude and finished steel output, according to data released on Wednesday October 14.

The impact of Covid-19 is undeniably huge. It continues to make its presence felt across all commodity markets, including the ferrous supply chain, from raw materials down to finished steel products.