WEEKLY SCRAP WRAP: US bucks trend toward softer scrap prices

Scrap prices in the major global markets softened slightly during the working week from Monday November 5 to Friday November 9, with the exception of the United States.

Export scrap prices out of the US were firm, with a number of sales heard out of the country’s East Coast, although demand for material from the West Coast was limited. Meanwhile, the prices of scrap in Turkey, India and Asia mostly showed signs of a downturn, with limited demand and soft markets for finished steel products. Turkey imports Turkish steel mills booked six deep-sea cargoes this week, with prices going down slightly throughout the week. A steel mill in the Marmara region booked a European cargo late on November 5, comprising 20,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and plate and structural scrap (P&S) at an average price of $337 per tonne cfr. A steel mill in the Iskenderun region booked a European cargo on November 6, comprising 15,000 tonnes of HMS 1&2 (75:25) at $330 per tonne, 3,000 tonnes of shredded...

Published

Cem Turken

November 09, 2018

17:10 GMT

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