STEEL SCRAP WRAP: Asian mills book more cargoes while Turkey remains quiet

Asian import scrap prices continued to rise in the week to Friday August 21 amid solid demand in Vietnam, Taiwan and South Korea, but buyers in Turkey remained away from the market while the Indian market softened.

  • Turkish mills face weak lira, low long-steel demand, and want lower scrap prices
  • US export markets quiet with lack of recent sales from East Coast
  • Vietnamese import scrap prices benefit from strong Chinese billet demand
  • Sellers holding back offers of scrap into Taiwan amid bullish sentiment
  • India price rally comes to a halt.

Turkey

Turkish steel mills extended their absence from the import scrap market for another week amid concerns over low demand for long steel and a weakening of the exchange value of country’s...

Published

Cem Turken

Lee Allen

Sean Barry

Paul Lim

Carrie Bone

August 21, 2020

17:05 GMT

Singapore, Mugla, New York, London