WEEKLY SCRAP WRAP: Scrap prices continue to fall on weak demand [CORRECTED]

Global scrap prices trended downward during the working week ended Friday January 24 on limited demand that was a consequence of lackluster finished steel sales globally and the lunar new year holidays in East Asia.

  • Turkish import prices drop in latest cargo deal
  • US export prices down on both coasts
  • Taiwan import prices slip on demand dip
  • Indian import prices decline on Turkish price downturn.

Turkey
Turkish imported ferrous scrap prices fell further last week when sluggish demand for rebar pushed Turkish mills to hold back from their expected February bookings.
Only one cargo of ferrous scrap was booked to Turkey last week. A UK-origin cargo containing 22,000 tonnes of HMS 1&2 (80:20) was transacted at $277 per tonne cfr on January 23.
The daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, ended the week at $274.25 per tonne on January 24, down from $280.70 per tonne on January 20.

The corresponding daily index for steel scrap, HMS 1&2 (80:20 mix), US origin,...

Published

Cem Turken

Mei Ling Toh

Paul Lim

Carrie Bone

January 27, 2020

15:29 GMT

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