WEEKLY SCRAP WRAP: Global prices struggle for growth on dip in trading activity

Global scrap prices remained relatively stable due to a lull in trading during the working week ended Friday November 22, with the exceptions of the Indian market, which dipped, and Taiwan, where prices rose.

  • Turkish steel mills slow pace of buying but prices hold steady
  • US prices steady on pause in export activity
  • Indian market dips on buying jitters
  • Prices unchanged in Vietnam
  • Taiwan prices up on solid rebar demand.

Turkey
Turkish steel mills slowed their deep-sea purchasing of scrap this week, which kept prices steady across the four confirmed cargoes traded over the period.
The daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, ended the week at $257.47 per tonne on November 22, compared with $257.92 per tonne on November 18.
The daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $264.24 per tonne on Friday, from $264.70 per tonne on Monday.
United States
Prices for US export scrap have remained stable in the minimal trading activity that has taken place.

Cargo...

Published

Cem Turken

Paul Lim

Carrie Bone

November 22, 2019

19:32 GMT

London, Singapore, Pittsburgh, Mugla