WEEKLY SCRAP WRAP: Global scrap prices show mixed dynamics

Global ferrous scrap prices moved in varying directions during the working week from Monday January 14 to Friday January 18, with Turkish and Asian import prices going opposite ways.

Turkish scrap import prices inched upward due to higher offer prices, while prices in Vietnam continued to weaken due to limited interest and trading. Taiwanese and Indian import prices were stable over the week. Turkey imports Turkish ferrous scrap import prices succumbed to upward pressure during the week ended January 18. A steel mill in the Marmara region was heard to have booked a European cargo, comprising HMS 1&2 (75:25) at $270 per tonne, shredded at $280 per tonne and bonus and HMS 1 each at $290 per tonne cfr on January 15. Another steel mill booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $282 per tonne and shredded at $287 per tonne cfr the same day. Following news of the higher-priced Baltic cargo, scrap exporters increased offer prices because collection costs were rising with the worsening winter weather. On January 17, a steel producer in the Marmara region booked a Canadian cargo, comprising...

Published

Mei Ling Toh

January 18, 2019

19:57 GMT

New York