- Strong demand in Turkey to feed domestic, export markets
- Limited transactions in US because of Thanksgiving holiday
- Strong demand in Vietnam on supply shortage
- Container shortages in Taiwan support import prices
- Indian prices move upward once more.
Turkish steel mills were actively procuring import cargoes this week on steady demand for finished steel products
in their domestic and export markets.
Steelmakers purchased 10 cargoes from the Baltic Sea and Europe. Sources said that there were limited numbers of transactions for United States-origin scrap due to a lack of supply in that country.
steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey
steel scrap HMS 1&2 (80:20), US origin, cfr Turkey
Export markets on both coasts of the US were largely muted in the lead-up to the major Thanksgiving holiday in the country
on November 26.
steel scrap HMS 1&2 (80:20), export index, fob New York
steel scrap shredded scrap, export index, fob New York
steel scrap, HMS 1&2 (80:20), export index, fob Los Angeles
Import demand remained strong
on supply tightness for Japanese and American scrap, with buyers looking for Russian A3-grade cargoes to augment inventory levels.
steel scrap, HMS 1&2 (80:20), cfr Vietnam
Taiwanese steel mills were faced with a limited supply of containerized cargoes
due to a shortage of containers and freight space.
steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan
Prices in India and Pakistan moved up
due to continuing logistics issues and a rising international market.
steel scrap, shredded, index, import, cfr Nhava Sheva, India