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Chinese traders optimistic about short-term scrap sales
Chinese steel scrap traders remain generally optimistic about scrap demand among domestic mills in the short term, especially when many steelmakers are still showing a healthy appetite for feed to maintain their production. Steel mills are still enjoying good margins...
Tokyo Steel halts steel sales to assess market situation
Tokyo Steel Manufacturing, Japan's leading producer of electric arc furnace steel, has decided to stop receiving new steel orders as of December 14, taking time to evaluate the market situation due to the rapid changes that have occurred lately. The company will not...
Chinese crude steel production decreases 5% m/m
China's crude steel production in November '20 stood at 87.7 million tons compared to 92.2 million tons in October '20, registering a 5% decline. Due to fall-winter production restrictions, steel mills were unable to meet their production capacity. Tangshan Govt....
Turkish imported scrap prices record new highs for over 6 years
On the other hand, major supplying countries such as the US are holding back and even targeting a $400/ton CFR level in the near term, while the country has a strong domestic scrap consumption and the absence of US-origin material in Turkey has also tightened the...