WEEKLY SCRAP WRAP: Global scrap prices up on limited supplies

Global scrap prices in all the major markets recovered during the working week ended Friday October 18, boosted by lower material availability and rising Turkish import prices.

Turkish import prices up as mills resume November buying US export prices up on bulk sales to Turkey Taiwan import prices up on reduced supply, Vietnam import prices stable Indian import prices up in line with Turkish market. Turkey Turkish imported scrap prices pushed upward during the week ended October 18, with its steelmakers booking eight deep-sea scrap cargoes for November shipments. A Baltic Sea cargo booked on October 14 was concluded at $237 per tonne cfr for HMS 1&2 (80:20), up by $2.25 per tonne from an earlier Baltic Sea cargo booked on October 11 at $234.75 per tonne cfr for similar material. Turkish mills paused their buying activities for two days after US President Donald Trump said that he would raise the import tariff on Turkish steel to 50% in response to Turkey’s military actions in Syria. They...

Published

Cem Turken

Mei Ling Toh

Paul Lim

Carrie Bone

October 18, 2019

20:30 GMT

New York, London, Mugla, Singapore