STEEL SCRAP WRAP: Prices in major markets continue to rise on bullish sentiment

Ferrous scrap prices in the global markets continued to strengthen in the week ended Friday October 22 amid firm demand and tight supply. Turkish steel mills continued to pay higher prices for deep-sea scrap cargoes, while buyers in Southeast Asia had to raise their bids because of limited supply.

• Turkish steel mills end the week with five deep-sea cargo trades, prices up
• Tight supply in the US set to raise prices further
• Vietnamese imported scrap prices increase on high offers from US, Japan
• Scrap import prices in China down on weaker steel markets
• Pre-winter restocking may boost prices further in Taiwan
• Indian prices continue to move upward.
Turkey

Turkish steelmakers have continued their deep-sea scrap bookings from last week despite...

Published

Cem Turken

Lee Allen

Paul Lim

Carrie Bone

Amy Hinton

October 22, 2021

17:23 GMT

Mugla, Singapore, London