Limited trade in major steel scrap markets amid wide bid-offer gaps

A wide gap between bids and offers in the major deep-sea markets for ferrous scrap prevented deals being made for much of the week ended Friday November 12, sources have told Fastmarkets.

• Turkey steelmakers struggle to buy December-delivery scrap
• US suppliers resist lower bids amid tight supplies
• Vietnam quiet amid volatile markets
• Bids, offers remain far apart in cfr China market
• Taiwan buyers pause purchases of scrap
• Indian scrap prices dip with Pakistan market becoming more attractive.
Turkey
Import prices for steel scrap brought into Turkey reduced slightly over the past seven days amid lower demand in the Turkish long steel markets.

Purchases by Turkey were heard for material from the Baltic Sea region and the...

Published

Cem Turken

Lee Allen

Paul Lim

Carrie Bone

Amy Hinton

Tianran Zhao

November 12, 2021

17:30 GMT

London, Singapore, Shanghai, Mugla