Prices surge on reduction of Turkish steel tariff in the US
US export prices to Turkey up
Taiwan prices rise but Vietnam prices hold ground on buyer skepticism
Indian prices surge on positive election result.
Turkish scrap import prices jumped by almost $20 per tonne on expectations that rebar export prices would increase as a result of the US decision to halve its tariff on imports of Turkey-origin steel products.
Nine cargoes were booked during the week ended May 24. Four US-origin cargoes traded at $310-316 per tonne cfr, and five Baltic Sea cargoes sold at $302-313 per tonne cfr.
The daily index for Northern Europe-origin HMS 1&2 (80:20) scrap ended the week at $307.12 per tonne on May 24, up from $285.86 per tonne on May 20.
The daily index for US-origin HMS 1&2 (80:20) was $314.29...