WEEKLY SCRAP WRAP: Strong steel prices in China push up global scrap markets

Turkish scrap import prices continued to increase strongly this week as the mills in the country were active in the deep-sea markets for March deliveries.

The US, Indian and Taiwanese markets followed the trend in Turkey and all saw increasing scrap import prices during the week. The main factor behind the firm scrap markets was the strengthening steel prices in the China, according to market sources. Turkey imports Turkish steel producers have booked seven deep-sea cargoes from different regions, totalling 230,000 tonnes, so far this week. Two cargoes were heard at the end of the week. A steel producer in the Marmara region booked a US cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $284 per tonne, 10,000 tonnes of shredded at $289 per tonne and 3,000 tonnes of bonus at $294 per tonne cfr. Another mill in Izmir booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $279 per tonne and 6,000 tonnes of P&S at $289 per tonne cfr. Earlier in the week, a steel producer in Iskenderun booked a Baltic Sea cargo, comprising 24,000...

Published

Cem Turken

February 17, 2017

17:15 GMT

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