WEEKLY SCRAP WRAP: Turkish mills in buying spree, US scrap in demand, Taiwan buyers stop imports, mixed dynamics in India

Turkish steel mills returned to the deep-sea markets for January and booked 250,000 tonnes of scrap from various suppliers earlier in this week before going quiet again on Thursday.

Meanwhile, US scrap export prices increased, with sales into South Korea and Turkey over the past week.
And while imported scrap prices into Taiwan also increased this week, the major buyers withdrew from the market in anticipation of a downtrend driven by China.
Turkey imports
Turkish scrap import market have seen a strong trading activity starting from the end of the last week and Turkish steel mills booked eight deep-sea cargoes so far this week, totalling almost 250,000 tonnes.
The deals were for January shipment and prices increased slightly.
A steel producer in the Iskenderun region booked a Baltic cargo, comprising 16,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 10,000 tonnes of bonus at $297 per tonne and 3,000 tonnes of rail at $302 per tonne cfr.

The same mill also booked a European cargo, comprising 17,500 tonnes of...

Published

Cem Turken

December 24, 2016

15:08 GMT

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