WEEKLY SCRAP WRAP: Regional differences show in scrap prices divergence

Ferrous scrap prices moved in different directions in the various global markets during the working week from Monday October 8 to Friday October 12, Fastmarkets has learnt.

Import prices in Turkey and India inched upward week-on-week, while Taiwanese import prices slipped on poor demand. Offers from the United States to Turkey remained firm, but some US exporters lowered their buying prices in preparation for the next bulk sales to the Middle Eastern country. Turkey imports Turkish ferrous scrap import prices pushed upward briefly during the week before losing their momentum. After booking a single cargo in the week ended October 5, Turkey’s steel producers resumed their buying activities, paying higher prices for two Baltic Sea cargoes. A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 26,000 tonnes of HMS 1&2 (80:20) at $328 per tonne and 9,000 tonnes of bonus at $338 per tonne cfr, late on October 5. Another steel mill in northern Turkey also booked a Baltic Sea cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $325 per tonne, 14,000 tonnes of shredded at $335...

Published

Mei Ling Toh

October 12, 2018

19:57 GMT

New York