WEEKLY SCRAP WRAP: Global markets continue to struggle amid slow trading, demand

Ferrous scrap prices were down or unchanged in all of the major markets during the working week ending Friday August 16, following limited trading and poor demand after a pause in market activity for a religious holiday.

The Eid al-Adha holiday subdued trading in Turkey and other Middle Eastern countries as well as the markets where they trade. Trading activity remained slow for the remainder of the week. Turkish mills quiet during and after religious holiday US scrap export prices unchanged on lack of trading Vietnam prices flat on limited trading Taiwan prices down on lower trading prices Offer prices continue to fall in India. Turkey Turkish steel mills booked only one cargo over the week ended Friday, and were mostly absent from the deep-sea scrap markets due to the religious holiday for Eid al-Adha on August 11-14. One trade came to light at the start of the week, but no new deals were booked over the course of the week. Before the pause in trading, the market was already struggling with poor finished steel sales. The daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, started...

Published

Cem Turken

Paul Lim

Carrie Bone

August 16, 2019

18:10 GMT

London ,Mugla, Pittsburgh, Singapore