The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April’s monthly negotiations.

Asia will soon be hit by a “steel tsunami”, a veteran trader in Vietnam told Fastmarkets recently, with a combination of factors expected to keep prices high into the second and third quarters of 2021.

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.

The Spanish steel industry has demanded clarification from the government following a March 29 decree to shut down all non-essential production as part of the battle to contain the Covid-19 pandemic, Fastmarkets heard on Tuesday March 31.

Demand for ferrous scrap imports in Vietnam faded toward the latter part of this week after sellers raised their offers from Thursday May 21 onward.

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.

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

Fastmarkets’ weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine. Instead, the prices will be published on June 9.

Due to the enforced extension of China's Lunar New Year holidays, Fastmarkets will not be publishing the following daily and weekly steel prices on Friday January 31.

Chinese domestic prices suffer heavy falls on building steel inventory levels and persistent first-quarter demand worries, with rebar facing the toughest challenge.