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Ferrous scrap buyers started withdrawing from the spot market in key importing country Vietnam during the week to Friday January 15 due to growing sentiment of a downward price trend, market sources told Fastmarkets. Offers for Japanese H2 were at $460 per tonne cfr southern Vietnam and $465 per tonne northern Vietnam compared with bids at $450-455 per tonne cfr Vietnam. But buyers remained wary amid expectations of more price declines. “Given the current price trend, it is much better to wait and see,” a buyer source in Vietnam told Fastmarkets. Bids for bulk Japanese H1&H2 (50:50) were at $460-465 per tonne cfr Vietnam and offers were at $470 per tonne cfr Vietnam before the Kanto Tetsugen auction results. ....
López Obrador lashes out at DEA after Mexico exonerates ex-minister on drug charges Mary Beth Sheridan, The Washington Post Jan. 15, 2021 FacebookTwitterEmail MEXICO CITY - President Andrés Manuel López Obrador lashed out at the Drug Enforcement Administration on Friday, accusing it of fabricating a narcotics case against Mexico s former defense secretary, in comments that underscored the fragile state of relations with Washington as President-elect Joe Biden prepares to take office. Why did they do this investigation this way? Without substance, without evidence? the president demanded at his daily news conference, referring to the DEA and its case against retired Gen. Salvador Cienfuegos. ....
China's looming presence as a new buyer in the Asian seaborne scrap market has sparked concerns of tight supply in the region, including in Taiwan, sources told Fastmarkets this week. ....
Home sales across top eight cities touch 94,997 units; Rs 50 lakh homes make up approximately 57% of the total sales Of the total sales number in H2 2020, Mumbai and Pune lead market revival, contribute around half of the home sales on the back of Maharashtra state government’s decision to reduce stamp duty Home sales in India s top eight cities was recorded at 94,997 units during H2 2020. As the country moved towards normality, residential sales reached almost 54% of the 2019 quarterly average with 33,403 units during Q3 2020 and recovered to almost 100% of pre-COVID levels at 61,593 units in Q4 2020, a new report by Knight Frank India has said. ....
The new coronavirus strain found in the United Kingdom has raised fears of scrap supply shortages that could feed the runaway prices in Asia, market sources told Fastmarkets in the week to Thursday December 24. ....