WEEKLY SCRAP WRAP: Scrap prices rise on Turkish strength

Global scrap prices in the week ended Friday September 14 mostly rose or stayed where they were a week ago, while Turkey continued to buy scrap from suppliers in both Europe and the United States, without faltering on price.

US exporters also continued to sell to Vietnam, although at lower prices, while data released on September 13 showed that Vietnam imported 21% more ferrous scrap in the first eight months of 2018 than in the corresponding period last year. Turkey imports Turkish mills booked six import cargoes in the week, totaling 170,000 tonnes. On September 11, a Turkish mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $319 per tonne cfr, 15,000 tonnes of shredded at $324 per tonne and 5,000 tonnes of bonus at $329 per tonne cfr. Trades for four more cargoes were heard later. Late on Tuesday, a steel producer in the Marmara region booked a second Baltic Sea cargo, comprising 7,500 tonnes of HMS 1&2 (80:20) at $318 per tonne, 16,000 tonnes of shredded at $323 per tonne, 6,000 tonnes of bonus at $328 per tonne, and 4,000 tonnes of busheling and...

Published

Nat Rudarakanchana

September 14, 2018

20:44 GMT

New York