Global steel scrap markets rusty ahead of Lunar New Year

Activity in the major global deep-sea steel scrap markets was stymied in the week to Friday January 21 by the approach of the Lunar New Year celebrations in East Asia. These will start on January 31, although movements in scrap prices were expected to vary from region to region, with demand better in some than in others.

• Weak steel sales keep Turkish scrap appetites at bay
• US scrap export prices expected to hold firm
• Vietnam bullish on scrap imports
• China market calm ahead of new year celebrations

Published

Cem Turken

Lee Allen

Paul Lim

Ross Yeo

Amy Hinton

Tianran Zhao

January 21, 2022

18:13 GMT

London, Shanghai, Mugla, Pittsburgh, Singapore