The following article is by contributing writer Damon Sun of Daido International. Several key elements has happened in the last few weeks in the ferrous markets in Asia: 1) China Customs Bureau has started inspections for alloy content in the export of billets (square bars). The export tax rebate (9%) is applicable only to alloy […] The post Brexit and World Scrap Markets to Affect USA Steel Prices appeared first on Steel Market Update.
Steel Market Update received the following information about the ferrous scrap markets in Asia and Turkey from Damon Sun of Daido International: There has been aggressive movements in the ferrous scrap markets in Asia and Turkey in recent days. Off the East Coast, Turkish scrap prices are up $12-$15/mt and on the Asian region side, […] The post Asian & Turkey Ferrous Scrap Prices Have Firmed Due to Demand appeared first on Steel Market Update.
The following article is by contributing writer Damon Sun of Daido International. The Asian markets were anticipating the elimination of China’s export tax rebate, which has not happened yet. Likely, it will not happen. Anticipation of the elimination of China’s export tax rebate would have an impact of 9-13 percent increase in China’s exports of […] The post Asian Scrap Markets Waiting for Chinese Export Tax Rebate Change appeared first on Steel Market Update.
The following article was written by contributing writer Damon Sun of Daido International. The Asian ferrous scrap markets are still very weak, but there are some positives recently. Rebar demand seemed to have picked up some in the last two weeks and consequently, there has been more activity in the containerized scrap markets. For reference, […] The post Asian Scrap Markets Improving: Dead Cat Bounce or Beginning of a Trend? appeared first on Steel Market Update.
The following article on the Asian ferrous scrap markets was written by contributing writer, Damon Sun of Daido International: Over the past 3 weeks, there has been an uptick on prices of HMS (heavy melt scrap) containerized from a low of $165/metric ton CFR to this Monday at $185/metric ton CFR basis Taiwan. In the […] The post Asian Scrap Markets Update appeared first on Steel Market Update.
The following article on Asian ferrous scrap markets is written by Damon Sun of Daido International: Fear, insecurity, confusion, vulnerability… these are the psychological trauma resulting from the whipsaw in the China stock markets. Publicly listed Chinese stocks have pledged their companies stock as collateral for financing. As the stock market sharply declined, banks started […] The post China Volatility Affecting Asian Ferrous Scrap Markets appeared first on Steel Market Update.
The following article about the Asian ferrous scrap markets comes to SMU from Damon Sun of Daido International: After the Lunar New Year holidays in Asia, the finished steel market has been subdued. However the scrap markets have stabilized. The raw factors affecting scrap markets: Negative Issue Affecting Ferrous Scrap in Asia: 1.) Iron ore […] The post Asian Scrap Markets Stabilize appeared first on Steel Market Update.
The following article about the Asian ferrous scrap markets comes to us from one of our contributing writers, Damon Sun of Daido International. Firstly, I believe we are at the bottom or near bottom of the current scrap market. The latest bulk scrap sales into Far East Asia were at $249 per metric ton CFR […] The post Asian Scrap Market: Near Bottom on Pricing? appeared first on Steel Market Update.
The following article comes to us from one of our Asian scrap sources, Damon Sun of Daido International. The Asian scrap market is a bit quiet and continued slow downtrend as scrap metal pricing tries to find parity with iron ore. A rough calculation of scrap to iron ore is a ratio of 3.5 to […] The post Asian Scrap Market Pricing Trying to Find Parity with Iron Ore appeared first on Steel Market Update.
Below is an article on the Asian scrap markets from one of our contributing writers, Damon Sun of Daido International. The last few weeks were chaotic in the markets. Most Asian countries look to Taiwan for indications on market directions and a base for pricing. With the rapid decrease in prices in iron ore (abt […] The post Asian Scrap Prices Impacted by Chinese Billet Exports appeared first on Steel Market Update.