WEEKLY SCRAP WRAP: Global prices up on revival in demand, Asia bucks trend

Global ferrous scrap prices rebounded in the week to Thursday April 18 on returning demand from Turkish steel mills. Export prices on the United States’ East Coast moved up as a result.

But demand was limited in the key import market of Vietnam due to a mill stoppage, while Taiwanese steel mills remained well-stocked. Turkey demand returns US market picks up on East Coast Mill stoppage in Vietnam damps demand Taiwanese steel mills wait-and-see India demand picks up late in week. Turkey imports Turkish demand for imported scrap returned this week, with steel mills booking both Europe- and US-origin scrap cargoes. Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) ended the week at $308.19 per tonne cfr on April 18, having been calculated at $303.41 per tonne cfr on April 15. The daily index for US-origin HMS 1&2 (80:20) ended the week at $312.26 per tonne cfr on April 18, having been at $307.48 per tonne cfr on April 15. A steel mill in the Iskenderun region booked a European cargo late on April 15, comprising 17,500 tonnes of HMS 1&2 (75:25) and 7,500 tonnes of...

Published

Cem Turken

Paul Lim

Carrie Bone

April 18, 2019

20:28 GMT

London, Singapore, Mugla, New York