WEEKLY SCRAP WRAP: Global prices move up on strong demand

Global scrap prices in most major markets moved upward during the week ended Friday December 6, due to good demand and a shortage of material in some locations.

  • Prices jump in Turkey on newest trades
  • US market activity picks up at higher prices
  • Indian price move up on material shortage
  • Prices continue to move up in Vietnam
  • Taiwan maintains strong demand and solid prices
Turkey
Turkish steel mills booked booked several cargoes during the week - one US cargo, two Baltic-sea cargoes and a European origin cargo - to push prices up by more than $10 per tonne since December 2.
The daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, ended the week at $278.98 per tonne, compared with $266.77 per tonne on December 2.
The daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $283.95 per tonne on Friday, up from $271.74 per tonne on December 2.
United States

Prices for US ferrous scrap exports moved upward due...

Published

Cem Turken

Lisa Gordon

Paul Lim

Carrie Bone

December 06, 2019

20:37 GMT

London, Singapore, Pittsburgh, Mugla