WEEKLY SCRAP WRAP: Downturn in Turkish import values drags down global prices

Global scrap prices continued to fall in all of the major markets during the working week from Monday September 23 to Friday September 27, because of the limited demand for finished steel and widespread negative sentiment.

  • Turkey booked more cargoes for November, prices down
  • Cheaper Turkish cargoes drove down US prices on both coasts
  • Price fall continuds in Southeast Asia amid bearish sentiment
  • Trading resumed in India in wake of sudden price slump.

Turkey
The Turkish steel producers continued their deep-sea purchases for November deliveries this week, taking advantage of falling prices.
The steel mills in the country have booked nine deep-sea cargoes this week, totaling almost 300,000 tonnes.

Fastmarkets’ daily index for steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, ended the week at $221.06 per tonne on September 27, down from $226.29 per tonne on September...

Published

Lisa Gordon

Cem Turken

Carrie Bone

Lee Ken Kiat

September 27, 2019

18:10 GMT

Mugla, London, Pittsburgh, Singapore