WEEKLY STEEL SCRAP WRAP: Turkey keeps buying, Asia bulk markets go quiet

Turkish steel producers remained active in the market for import scrap in the week ending Friday June 12, while prices for bulk scrap in Japan and Vietnam appear to hit a ceiling as activity slowed.

  • Turkish mills continue to book deep-sea scrap
  • Demand from Turkey has allowed US East Coast prices to keep increasing
  • Trading activity falls in Vietnamese market as offer prices climb 
  • Buying activity remains strong in Taiwan
  • Indian mills absent from market
Turkey
Bookings for bulk import scrap to Turkey continued over the past week with easing Covid-19 restrictions aiding demand for long steel products.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was 3,400-3,440 lira ($499-505) per tonne...

Published

Cem Turken

Lee Allen

Paul Lim

Carrie Bone

June 12, 2020

20:17 GMT

Singapore, Mugla, Pittsburgh, London