WEEKLY SCRAP WRAP: Global prices continue to slip on poor demand

Global steel scrap prices continued to move downward in the week ending Friday April 5, with the exception that prices in the US market remained unchanged on a lack of trading, and with prices in India bucking the downtrend by $0.07 per tonne.

Turkish import prices drop by more than $10 per tonne week on week on political uncertainty Lack of fresh trading keeps US exports flat Good availability of material keeps Vietnam prices down Taiwanese prices fall on lower demand Indian prices static in subdued market. Turkey imports Turkish mills refrained from purchasing deep-sea scrap cargoes for most of the week, buying just one European cargo, which came to light on Thursday evening. Two other cargoes also became known earlier in the week, sending the indices downward. Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) ended the week down at $306.68 per tonne cfr on April 5, having been calculated at $316.51 per tonne cfr on April 1. The daily index for US-origin HMS 1&2 (80:20) ended the week down at $310.75 per tonne cfr on April 5, having been at $322.35 per tonne cfr on April 1. In the first of two trades newly...

Published

Lisa Gordon

Cem Turken

Paul Lim

Carrie Bone

April 05, 2019

17:42 GMT

London, Singapore, Mugla, New York