STEEL SCRAP WRAP: Rising steel demand boosts scrap purchases in major markets

Turkish steel mills continued to book deep-sea scrap for November shipments at slightly higher prices in the working week to Friday October 16, easing the oversupply in the United States. Improving buying interest for finished steel supported scrap imports into Southeast Asia.

  • Turkish steel mills replenish scrap stocks on strong export sales
  • Turkish bookings welcomed in US due to oversupply
  • Recovering demand for billet from China, higher offers from Japanese scrapyards boost scrap prices in Vietnam
  • Bullish sentiment in Taiwanese scrap import market tempered by lower offers
  • Indian prices up on Turkey’s upward price trend.

Turkey
The Turkish steel mills continued to book deep-sea scrap cargoes this week with the support of strong export sales.

Turkish steelmakers booked three deep-sea cargoes from...

Published

Cem Turken

Paul Lim

Carrie Bone

October 16, 2020

17:22 GMT

London, Mugla, Singapore, Pittsburgh