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

The price of shredded steel scrap imported jumped by almost $30 per tonne on Friday December 18 due to continued tightness in container availability and a strong international market, sources told Fastmarkets.

Import prices for containerized ferrous scrap in the key Taiwanese market slipped further in the week to Friday October 9 ahead of a major holiday in the territory, sources said.

Here are five Fastmarkets MB stories you might have missed on Wednesday February 12 that are worth another look.

Fastmarkets’ weekly price assessments for the CIS export steel market will not be published on June 8 because of a public holiday in Ukraine.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

The momentum in the imported containerized scrap price from the United States West Coast sold into Taiwan slowed this week but industry sources expect some further upside in the near term.

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.

Fastmarkets proposes to discontinue four price assessments of steel in Argentina following a long period of low liquidity and an inactive spot market.

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

Italian long steel producer Feralpi Group has announced the closure of one of its mills, starting from March 16, due to the outbreak of 2019-nCoV coronavirus, the company told Fastmarkets on Friday March 13.