New transactions concluded for containerized steel scrap cargoes sold to Bangladesh fetched lower prices over the past week, sources told Fastmarkets.
Buyers in Bangladesh, Pakistan and India have been successful in the past week in their attempts to reduce import prices for containerized scrap.
“Asian mills appear to be winning in this round of buying,” a trading source in the United States said.
At least two Bangladeshi steelmakers booked imported shredded scrap in containers at $480 per tonne cfr for United Kingdom material at the beginning of this week. A deal in the middle of the week involving 3,000-4,000 tonnes of shredded scrap was heard at $476 per tonne cfr.
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Peruvian copper and zinc production fell year on year in January, partially erasing the recovery seen in the fourth quarter of 2020, according to data published by the ministry of energy and mines, Minem, on Thursday March 11.
The country produced 176,402 tonnes of copper in the first month of 2021, which amounted to a 7.6% year-on-year drop from 190,927 tonnes in January 2020 and the lowest level seen since 172,000 tonnes last September.
Peru has enforced strict measures to combat the Covid-19 pandemic, with mines closing or significantly reducing activities, mostly during the March-July period last year. As those restrictions began to be eased, copper production recovered from a 2020 low of 125,000 tonnes in April to 222,000 tonnes in December.
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