The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.
Prices on the international market have been on a rollercoaster ride over recent weeks.Following the implementation of lockdown measures in various nations, steelmaking, construction sites, infrastructure projects and automotive producers have reduced production or suspended it entirely, which has led to demand falling off a cliff-edge, as...