STEEL SCRAP WRAP: Prices move up across the global markets

Global ferrous scrap prices across all key markets surged during the week to Friday July 24, with the momentum showing no sign of easing, according to market sources.

  • Turkey continues to book more deep-sea cargoes
  • United States prices move up on Turkish buying
  • Vietnam scrap gets swept up in global increase
  • Taiwan fails to halt price increases
  • India sees improvement on price despite weak sentiment

Turkey

Turkey booked eight deep-sea cargoes, totaling almost 250,000 tonnes, from the US and the Baltic Sea at increasing prices across the trading week.

The upward movement in Turkey’s scrap prices was driven by firm demand and improving iron ore prices, which has boosted sentiment globally, with other scrap markets also being pushed higher.

Pricing history

Steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey

Steel scrap HMS 1&2 (80:20), US origin, cfr Turkey

US

US ferrous scrap export prices were also higher this week following a number of sales to Turkey.

Pricing history

Steel scrap HMS 1&2 (80:20), export index, fob New York

Steel scrap shredded scrap, export index, fob New York

Steel scrap, HMS 1&2 (80:20), export index, fob Los Angeles

Vietnam

The price of scrap imported into Vietnam surged in the week to Friday in line with the increases seen in other parts of the world.

Pricing history

Steel scrap, HMS 1&2 (80:20), cfr Vietnam

Taiwan

Taiwan reported a continued increase in scrap prices over the week despite buyers attempts to halt these increases.

Pricing history

Steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan

India

India reported higher scrap prices this week despite market expectations for demand to remain subdued until later in the year.

Pricing history

Steel scrap, shredded, index, import, cfr Nhava Sheva, India

What to read next
The publication of the affected prices was delayed for 50 minutes. The following indices were published late: MB-MNO-0001 Manganese ore high grade index, cif Tianjin, $ per dmtu MB-MNO-0002 Manganese ore semi carbonate index, 36.5% Mn, fob Port Elizabeth, $/dmtu MB-MNO-0003 Manganese ore semi carbonate index, 36.5% Mn, cif Tianjin, $/dmtu These prices are a part of the […]
Fastmarkets proposes to amend the specifications of its weekly price assessment for MB-STE-0037 steel rebar domestic exw Italy to better reflect the material traded in the market.
The global copper market has finally received the widely anticipated news that imports to the US will be tariffed from August 1. The finer details of the tariffs, including their scope, and whether key copper-exporting nations like Chile, Canada and Peru will be exempt, remain unclear.
The purpose of this review is to ensure that the index continues to accurately reflect prevailing market conditions. We welcome feedback from industry participants on potential amendments to the base specification. This consultation, which is open until August 9, 2025 seeks to ensure that our methodologies continue to reflect the physical market under indexation, in […]
Information came to light that mill buying offers had been adjusted for July following Fastmarkets’ settlement of these prices on that date, leading to an incorrect published assessment for the following grades: MB-STE-0789 Steel scrap No1 heavy melting, consumer buying price, fob Montreal, Canadian $/net ton was previously published at C$245 ($179.41) per net ton, a C$10 […]
Mexico’s production and consumption of long steel fell year-on-year in May due to weakness in the country's construction sector, but posted a month on month gain, according to the latest data from the Mexican steel chamber, CANACERO.