WEEKLY SCRAP WRAP: Global prices slip as virus concerns, container shortage bite

Ferrous scrap prices across the global markets moved downward during the working week to Friday March 13 on lower confidence and reduced trading because of the continuing container shortage.

  • Market stasis ends with lower prices in Turkey
  • US export market expecting lower prices
  • Prices slip in Taiwan, Vietnam
  • Indian markets falter on poor conditions.

Turkey
Purchases of cargoes from the deep sea market finally resumed after a period of inactivity, with a handful of US- and Baltic Sea-origin deals booked for the first time this month, but with prices moving downward.
Fastmarkets’ daily index for steel scrap HMS 1&2 (80:20), Northern Europe origin, cfr Turkey, ended the week at $265.53 per tonne, down from $272.13 per tonne one week earlier.
The corresponding daily index for steel scrap HMS 1&2 (80:20), US origin, cfr Turkey, was $272.97 per tonne on Friday, down from $279.45 per tonne one week earlier.
United States
Prices on the US export market were likely to move down in fresh trading.

An East Coast export source...

Published

Cem Turken

Paul Lim

Carrie Bone

March 16, 2020

17:18 GMT

Pittsburgh, Mugla, Singapore, London