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 a US cargo, comprising 13,000 tonnes...


Cem Turken

June 16, 2017

20:49 GMT