The global scrap market was largely on-hold this week, as participants held back waiting for fresh pricing signals for imports into Turkey
and for Chinese billet prices to settle.
Expectations varied widely with regards to the size of the expected price drop for deep-sea bulk cargoes into Turkey.
Meanwhile, Turkish domestic scrap prices dropped sharply at the beginning of the week
Furthermore, in Asia, import prices for containerised HMS-grade scrap in Taiwan dipped as low as $195-200 per tonne
over the past week, bringing the total fall in the price close to $100 per tonne in less than a month.
On the steel side, Turkish billet prices took a downturn
and domestic rebar and wire rod prices fell further
amid falling billet prices and weak demand.
It has been a choppy...