- Turkish market remains quiet.
- United States looks forward to strong start to new year.
- Taiwanese buyers cut bids.
- India continues to catch up with international markets.
Turkish imported scrap prices remained stable this past week due to illiquid spot trading caused by the year-end festive period.
Both buyers and suppliers were out of the market due to the holidays. Sentiment has also turned negative because steel mills had to lower their offer prices for semi-finished and long steel in order to secure orders in the past week.
The last transaction by Turkish participants was a Baltic Sea cargo at $303 per tonne cfr for HMS 1&2 (80:20) on December 20.
Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey
ended the week at $298.42 per tonne on January 3, unchanged week on week.