WEEKLY SCRAP WRAP: Trading activity slows keeping global price growth minimal

Global ferrous scrap prices edged up (apart from in Turkey) in the week to Friday February 28, mainly due to a rise in freight rates, with many market participants reporting weak trading activity.

  • Turkish import scrap prices dip as bookings slow
  • US export scrap prices remain largely stable
  • Freight costs continue to push up prices in Taiwan and Vietnam
  • Indian import prices steady on lackluster sales
Turkey
Prices for scrap imported into Turkey moved down over the week, with just one cargo booked.
On Monday, a steel mill in northern Turkey booked a Baltic Sea cargo comprising 16,000 tonnes of HMS 1&2 (80:20), 12,500 tonnes of shredded, 2,500 tonnes of bonus and 1,000 tonnes of busheling at an average price of $283 per tonne cfr.
The daily index for steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey ended the week at $271.34 per tonne, down from $276.27 per tonne one week previous.

The daily index for steel scrap HMS 1&2 (80:20), US origin, cfr Turkey was $279.11 per...

Published

Lisa Gordon

Cem Turken

Paul Lim

Carrie Bone

March 02, 2020

12:08 GMT

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