WEEKLY SCRAP WRAP: Increase in trading activity provides boost for scrap market

Global scrap markets improved this week, with increasing volumes being traded in the major markets.

Turkish steel mills accelerated their deep-sea purchases with strong domestic demand amid the expectation of a better export market after the Ramadan period, while the Taiwanese and US markets were also enjoying the increasing trade activity.
Turkey imports
Turkish steel producers have speeded up their deep-sea scrap bookings in anticipation of improving demand after Ramadan and with the help of strong domestic finished steel demand.
The mills in the country booked four deep-sea cargoes so far this week, totalling around 120,000 tonnes.
Three of those deals were done on Wednesday June 14.
A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $272 per tonne, shredded at $277 per tonne and bonus at $282 per tonne cfr. The cargo breakdown, however, was not immediately clear at the time of publication.

Another steel mill, in the Marmara region, booked...

Published

Cem Turken

June 16, 2017

20:49 GMT

Mugla