May 2019

WEEKLY SCRAP WRAP: Turkey begins recovery after US tariff cut; other markets 'will follow'

The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel.

UK SCRAP: Light iron market tracks weaker May settlements

The UK’s light iron market has dropped over the week ending May 17, losing another £5 ($6.41) per tonne following a £10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.

FASTMARKETS NON-FERROUS EUROPEAN SCRAP PRICE CHANGES 17/05:

The following Fastmarkets non-ferrous European free market scrap prices changed on Friday May 17:

DAILY SCRAP REPORT: Turkish mills return to deep-sea markets after US removes extra duty

The Turkish steel producers resumed their purchases from the deep-sea scrap market at slightly higher prices at the end of this week after news of the removal of additional US import tariffs on Turkey-origin materials, sources said on Friday May 17.

INDIA IMPORT SCRAP: Prices continue to fall but may recover after election

The price of shredded ferrous scrap imported into India fell again this week after deals were agreed at lower prices, market sources told Fastmarkets on Friday May 17.

ITALY FERROUS SCRAP: Domestic prices down on lower global prices, poor demand

Domestic prices for ferrous scrap in Italy have declined over the past month in line with falls in the international scrap markets, sources told Fastmarkets on Friday May 17.

ASIA FERROUS SCRAP: Price rebound likely after US cuts duty on Turkish steel

Scrap prices in Asia were largely steady this week, but they are expected to rise after the United States lowered its Section 232 duty on Turkish steel by half, market sources told Fastmarkets MB.

UK ferro-titanium plant looks for production restart in Q3

British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, intends to restart production in the third quarter of 2019 after a fire damaged its plant in April, according to an industry source.

DAILY SCRAP REPORT: Suppliers withdraw offers on rumors of reduction in US duties

The Turkish deep-sea scrap markets went quiet on Thursday May 16, with suppliers withdrawing their offers because of rumors that the United States will remove the doubled Section 232 tariff on Turkey-origin steel products, sources said.

UK FERROUS SCRAP: Prices for May drop in line with export market

The UK ferrous scrap market for deliveries to domestic consumers in May has settled at prices lower than a month earlier, matching losses reported in the export market, trade sources told Fastmarkets on Wednesday May 15.