Bulk freight problems and strong billet demand from China have led to a sharp rise in the steel billet-scrap spread in recent weeks, Fastmarkets pricing data shows.
The premium that Fastmarkets' assessment price for steel billet, import, cfr Southeast Asia carries over the assessment for steel scrap, HMS 1&2 (80:20), cfr Vietnam rose to $165 per tonne on Friday March 19 - the highest level recorded since October 2018."The Japanese domestic scrap price is weak, mills in Taiwan dropped their bid prices and there's no demand in South Korea so Japanese...