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.

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

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 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.

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.

Following an extended consultation period, Fastmarkets is to discontinue four Argentinian steel price assessments from Friday October 9, following a long period of low liquidity and an inactive spot market.

China’s metals industry returned from holiday to find metal prices were higher and it would appear have chased prices higher, with all the base metals on the London Metal Exchange and Shanghai Futures Exchange showing gains this morning, Thursday February 18.

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

Brazil-based steelmaker Gerdau expects the metal spread in its North America division to remain stable in the coming months after the company was able to secure ferrous scrap at competitive prices, chief executive officer Gustavo Werneck said on Wednesday August 5.