The latest news and price moves to start the Asian day on Tuesday June 12.

Editor Vera Blei looks at the main news covered by Steel First this week.

Global ferrous scrap prices are expected to remain firm over the next few weeks, as Turkish mills continued their buying spree during the working week from Monday July 31 to Friday August 4.

Some steel product prices in the United States have risen in response to the looming introduction of 25% tariffs on imports, while sentiment in steel markets outside the US has been dampened by fears of potential shifts in trade flows.

Base metals prices on the Shanghai Futures Exchange were all down at the close of morning trading on Thursday January 23, the final trading day before Lunar New Year holidays kick off in China.

Iron ore futures on the Dalian Commodities Exchange slumped during the morning on Monday September 1 after China published weaker official manufacturing data and rebar futures slumped to a record low.

Prices for billet have started to stabilise in some regional markets around the world following a four-week rally fuelled by rising import scrap prices in Turkey and firm demand for long steel in China.

Steel billet prices fell in almost all regions last week, following the downtrend in scrap and a weakness in Chinese domestic market.

Metal Bulletin proposes to re-align its Brazilian domestic steel prices to reflect market practices, making changes to the calculation of its monthly assessments.

Strong demand from Turkey, the world’s largest scrap importer, raised global scrap prices sharply during the working week from Monday August 7 to Friday August 11.