STEEL SCRAP WRAP: Turkey’s return to market spurs higher global prices

Global steel scrap prices have risen over the week to Friday October 23, following Turkey’s re-entry into the market and a sharp rise in the prices of Japan-origin material.

  • Turkish mills rejoin scrap market for higher-priced cargoes
  • Sentiment positive in US East Coast market despite no fresh deals
  • Vietnamese mills’ appetite grows for US material following spike in Japanese prices
  • Taiwanese scrap importers powerless to prevent rise in prices
  • Indian prices track international market; availabillity tight.

Turkish steelmakers have re-entered the market for steel scrap cargoes over the past seven days, purchasing material at higher prices than last week.

Two deep-sea deals for Baltic Sea-origin material came to light this week, and another for...


Lee Allen

Paul Lim

Carrie Bone

October 23, 2020

17:00 GMT

London, Mugla, Singapore, Pittsburgh