Turkish steel producers buy mid-week
Turkish demand supports US ferrous scrap export prices
Weaker downstream markets hold back Vietnam ferrous scrap prices
Taiwanese prices fall on lower bids
India prices down on election uncertainty, end of financial year.
Turkish scrap import prices went down during the week ended March 29 on poor demand caused by the weakening Turkish lira.
The country’s mills booked four cargoes at $318-328 per tonne cfr for HMS 1&2 (80:20) mid-week, including three Baltic Sea cargoes and one from the US.
As a result, Fastmarkets’ daily scrap indices were both down by $3.12 per tonne week on week on Friday. The daily index for Northern Europe-origin HMS 1&2 (80:20) was calculated at $318.09 per tonne cfr on March 29, while the daily index for US-origin HMS 1&2 (80:20) was $323.52 per tonne cfr on the same day.
The lowest point of the week for the European index was...