WEEKLY SCRAP WRAP: Prices rising on higher Turkish import costs

Scrap prices in most global markets pushed upward in the week ended Friday July 19, in line with stronger Turkish import prices. But this excluded the Indian market, which was hurt by limited trading activity.

Turkish import prices up week-on-week, bookings resume US export prices flat on East Coast, up on West Coast Asian import prices up on steady demand but upside limited Indian prices down on poor finished steel demand. Turkey After more than a week of silence, Turkish steelmakers finally accepted higher offer prices for steel scrap on July 17, despite their struggles with poor prices for finished and semi-finished steel. Turkish mills resumed bookings of August shipment cargoes of scrap, concluding three bulk deals on July 17 and 18. Two Baltic Sea-origin cargoes transacted at $294-295 per tonne cfr for HMS 1&2 (80:20), while a UK cargo was booked at $290 per tonne cfr. The daily index for steel scrap, HMS 1&2 (80:20...

Published

Cem Turken

Mei Ling Toh

Paul Lim

Carrie Bone

July 19, 2019

20:22 GMT

New York, Mugla, Pittsburgh, Singapore, London