- Turkish import prices record midweek plunge
- US West Coast scrap flows begin to dry up
- Taiwan, Vietnam buyers delay bookings on expectations of further price drops
- Indian import prices struggle amid weakening rupee
Prices in the world’s largest scrap import market suffered a sharp drop last week after the purchase of a Canadian cargo came to light on March 18.
A steel mill in the Marmara region booked a Canadian cargo comprising 18,000 tonnes of heavy melting scrap 1&2 (90:10), 20,000 tonnes of shredded scrap and 12,000 tonnes of plate and structural (P&S) scrap at an average price of $255 per tonne cfr
The sale led to a day-on-day reduction of $23.90 per tonne in Fastmarkets’ daily scrap indices for steel scrap imported to Turkey on Wednesday. No further bookings were made after the Canada cargo.
“The scrap price...