WEEKLY SCRAP WRAP: Weakening demand creates downturn in global prices

Steel scrap prices in the major regions started to weaken during the working week from Monday June 22 to Friday June 26, amid softening demand.

  • Turkish mills booked only two deep-sea cargoes this week
  • US export prices down $6 per tonne
  • Steady demand could not prevent prices weakening in Vietnam
  • Import prices down in Taiwan ahead of festival period
  • Lower prices entice buyers in India.

Turkey
Turkish steel mills mostly stayed away from deep-sea scrap purchases over the past week because of soft markets for their finished long steel products.

The country’s steelmakers booked only...

Published

Cem Turken

Paul Lim

Carrie Bone

June 26, 2020

16:45 GMT

London, Singapore, Mugla, Pittsburgh