WEEKLY SCRAP WRAP: Global prices continue to fall with downturn in Turkish market

Ferrous scrap prices in the global markets continued to weaken during the week ended Friday January 17, following the sharp decline in the Turkish market.

  • Turkish prices decline sharply with fresh US trade
  • United States East Coast prices down; West Coast to follow
  • Prices in Taiwan and Vietnam fall steadily on soft demand
  • International downturn drags down Indian prices

Turkey
Prices for ferrous scrap imported into Turkey fell sharply last week, with a fresh US cargo booked late on Wednesday January 15.
A steel mill in the Izmir region booked a US cargo of 35,000 tonnes of HMS 1&2 (95:5) at $295 per tonne cfr, which would put the HMS 1&2 (80:20) price at $288 per tonne.
The previous US cargo sold into Turkey was booked on January 3 at $306 per tonne cfr for shredded scrap, which would put the HMS 1&2 (80:20) price around $301 per tonne.

Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was...

Published

Cem Turken

Paul Lim

Carrie Bone

January 20, 2020

15:50 GMT

Mugla, Pittsburgh, Singapore, London