Sentiment weakens across most major steel scrap markets

Prices across most major steel scrap markets moved downward in the week ended Friday December 3 amid the weakening of the Turkish lira and poor sentiment in several key buying nations, with the end of the year fast approaching, sources told Fastmarkets.

• Turkish steelmakers shy away from market after early-week deals
• US exporters close deals at lower prices
• Vietnamese import demand wanes amid lackluster billet sales
• China local scrap demand inches up, but no import activity
• Taiwan market moves up on bullish sell-side
• Indian steel scrap import sentiment takes hit.
Turkey

Import activity for deep sea cargoes into the key Turkish market stalled late in the week after cargoes were bought from the United States and the Baltic Sea...

Published

Cem Turken

Lee Allen

Paul Lim

Carrie Bone

Amy Hinton

Tianran Zhao

December 03, 2021

17:50 GMT

London, Mugla, Shanghai, Singapore