WEEKLY SCRAP WRAP: Turkish prices rebound, Asian buyers enjoy low Japanese prices

Ferrous scrap prices in Turkey rebounded on an improvement in demand from the country’s steel mills during the working week ended Friday February 14. The upturn in Turkish prices sparked a recovery in the Indian markets, while prices in the United States were set to follow.

  • Turkish prices increase amid higher buying interest
  • Turkish buying brings signs of recovery in US export market
  • Low prices for Japanese scrap sparks interest among buyers in Vietnam and Taiwan
  • Indian prices rise on upturn in Turkish market.

Turkey
Turkish steel producers have made deep-sea scrap purchases for March shipments at higher prices in the past week.
Turkish mills booked six deep-sea cargoes last week, totaling almost 175,000 tonnes.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was $267.05 per tonne on February 14, up by $14.82 per tonne from $252.23 per tonne on February 7.

The corresponding daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, also moved up by $14.82 to $274.82 per tonne on February 14, from $260 per...

Published

Cem Turken

Carrie Bone

Lee Ken Kiat

February 17, 2020

15:40 GMT

Mugla, London, Pittsburgh, Singapore