The biggest news in the international scrap market involved the mid-winter Australian floods that devastated the country’s coal industry and also severely affected iron ore mining.  With reduced supplies flowing into the global marketplace, integrated steelmakers are expected to compensate with an increased focus on scrap, which would spike worldwide demand and, most likely, prices as well.  How will that affect the major global scrap markets?  A review of 2010’s market conditions and current situations should shed a little light on the possibilities.  More…