WEEKLY SCRAP WRAP: Global prices continue to surge on supply shortages

Global ferrous scrap prices continued on an upward trend in the week ended Friday December 13 due to supply shortages and stable demand from end users.

  • Turkish steelmakers book 10 cargoes
  • Sentiment in US bullish
  • Large bid-offer gap in Vietnam
  • Taiwan continues to accept price increases
  • Thin demand in India due to cheaper domestic scrap
Turkey
Turkish steel mills booked a total of 10 cargoes this week, including three US-origin cargoes, five Baltic Sea cargoes and two European cargoes at increasingly higher prices.
The daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, ended the week at $296.06 per tonne, compared with $278.98 per tonne on December 6.
The daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $301.02 per tonne on Friday, up from $283.95 per tonne on December 6.
United States

Prices for US ferrous scrap exports continued to climb due to limited supply and increased demand...

Published

Cem Turken

Paul Lim

Carrie Bone

December 13, 2019

19:05 GMT

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