WEEKLY SCRAP WRAP: Global prices stumble on weaker demand, but India remains strong [CORRECTED]

Ferrous scrap prices in most global markets dipped on weaker demand during the week ended Friday January 10, but the Indian market remained strong.

  • Turkish market dips on fewer trades
  • United States prices unchanged
  • Limited buying sees Vietnam prices drop
  • Taiwan prices down on weaker demand
  • Indian prices continue to increase

Prices for ferrous scrap into Turkey fell this week, with only one fresh cargo being booked over the working week.
Purchases of scrap cargoes have slowed due to weaker demand for rebar exports and pressure on the thinning scrap-rebar margins.
Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, ended the week at $295.85 per tonne on Friday January 10, down from $296.57 per tonne on January 6.
The daily index for steel scrap HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $303.95 per tonne on January 10, down from $304.67 per tonne on January 6.

Prices in the US East Coast...


Cem Turken

Paul Lim

Carrie Bone

January 13, 2020

15:19 GMT

London, Singapore, Pittsburgh, Mugla