WEEKLY SCRAP WRAP: Global markets see higher prices but US absent for holiday

Global scrap prices returned to growth during the week ended Friday November 29, with trading continuing in all the major scrap markets except the United States, which was quiet due to its Thanksgiving holiday,

  • Prices move up in Turkey but trading thin
  • US market quiet on Thanksgiving holiday
  • Indian market inches up on fresh deals
  • Prices up in Vietnam on higher transaction prices
  • Taiwan prices up on solid restocking demand.

Turkey
Turkish steel mills booked just two cargoes this week, waiting until prices for rebar and billet reflected the higher scrap costs.
Nonetheless, the two European cargoes that were purchased achieved higher prices this week.
The daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, ended the week at $266.08 per tonne on November 29, compared with $257.41 per tonne on November 25.
The daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $272.85 per tonne on Friday, up from $264.18 per tonne on Monday.
United States

Prices for US export scrap were unchanged...

Published

Cem Turken

Paul Lim

Carrie Bone

November 29, 2019

21:15 GMT

London, Mugla,Singapore, Pittsburgh