A drop in Turkish import scrap prices over the past month, added to large increases in container freight fees
for shipping from the UK to India and Pakistan, had a negative effect on scrap prices, the sources said.
“Domestically, because [the cost of] freight was [up], prices came off,” one seller said.
Despite the difficulties faced by container exporters during the past month, other market participants may have been able to gain an advantage, according to one market source.
“Problems [with containers] are helping big [market participants] at deep-sea docks,” the source said.
Metal Bulletin’s daily scrap index for Northern Europe-origin HMS 1&2 (80:20) material imported to Turkey was $271 per tonne cfr Turkey on April 13, down by $24.17 per tonne compared with $295.17 at the last monthly settlement on March 10.