WEEKLY SCRAP WRAP: Turkish, US prices down on lack of trading; Taiwan, India prices stable

The Turkish scrap market has remained quiet this week after mills bought several cargoes at the end of last week. However, scrap prices in the country have since then gone down on strong supply and weaker demand.

Prices in Taiwan and India were comparatively stable this week, however, while prices in the USA followed the trend seen in Turkey.
Turkey imports
Turkish steel producers booked a number of cargoes at the end of last week, which caused sharp decreases in the daily indices at the beginning of this week.
But the mills in the country have gone quiet in the deep-sea markets since then, to focus on finished steel sales. Only one scrap import deal was heard this week, on Thursday.
A steel producer in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 7,000 tonnes of new cuttings, 3,000 tonnes of shredded and 5,000 tonnes of a mixture of P&S and HMS 1, at an average price of $300 per tonne cfr.

Prices were expected to remain at these levels in bookings...

Published

Cem Turken

October 20, 2017

17:52 GMT

Mugla