Prices in the Commonwealth of Independent States fell due to lower bids in buying outlets such as Turkey, the Middle East and Egypt.
In Southeast Asia, a price war among Russian and Indian producers drove prices lower.
Global ferrous scrap prices fell during the week, and buyers expected the downtrend to persist due to limited bookings in Turkey
Fastmarkets’ daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey
was $236.40 per tonne on September 13, down from $244.15 on September 6.
CIS, Turkey, Egypt
The effects of low billet demand and weaker international scrap prices were felt in the CIS billet market, with bids and bookings being reported at levels lower than producers’ expectations.