WEEKLY SCRAP WRAP: Turkish demand keeps global prices firm

Scrap prices in the global markets have been firm during the working week from Monday November 11 to Friday November 15 thanks to demand from mills in Turkey and Southeast Asia and to seasonal factors that raised costs.

  • Turkish mills continue to book scrap for December, but concerns persist over weak long steel demand
  • US suppliers seek higher prices for exports
  • Chinese demand for downstream billet supports scrap prices in Vietnam
  • Scrap import prices rise further in Taiwan on sustained demand
  • Lack of material propels Indian shredded scrap price higher

Turkey
Turkish steel mills continued their deep-sea scrap purchases for December deliveries during the week ended November 15, while prices were largely stable.
Mills booked five deep-sea cargoes this week from the United States, the Baltic Sea and the EU, totaling around 180,000 tonnes.
Despite these bookings at steady prices, market participants were still worried about the limited demand for long steel.

The daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr...

Published

Cem Turken

Carrie Bone

Lee Ken Kiat

November 15, 2019

19:48 GMT

Mugla, Pittsburgh, London, Singapore