Member states will vote on the issue before a final decision on June 30.

¡°Port prices have not responded to rising seaborne prices, so that¡¯s put a cap on things,¡± the same source said.

Export prices for Japanese steel scrap have continued to rise over the past week amid high demand from South Korea as well as local buyers in Japan, sources said.

One producer in the region claimed to have sold a limited tonnage of July-delivery wire rod at €900 per tonne.

¡°We are sold out through July and August and we have sold about 600 tonnes for shipment in the fourth quarter,¡± one European ferro-silicon producer said.

Whether the ferro-chrome market rises further remains to be seen.

One reason behind this bearish view is the weakness exhibited in nickel futures in recent days.

A summary of the financial results for Egypt¡¯s biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2021.