- Turkey continues to purchase material at higher prices
- US export prices and volumes rise
- Vietnam chooses US-origin scrap on narrowing differential with Japan
- Taiwan prices continue uptrend
- India prices return to pre-pandemic levels.
Deep-sea scrap bookings by Turkish steel mills have amounted to seven cargoes so far this week, totaling around 225,000 tonnes, with prices rising through the week.
steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey.
steel scrap HMS 1&2 (80:20), US origin, cfr Turkey.
The US ferrous scrap market continued to see active exporting due to the weakness of the country’s dollar compared with the euro, making US scrap more attractive.
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.
The Vietnam scrap market has started to opt for bulk deep-sea cargoes from the United States because Japanese scrap is becoming more expensive.
steel scrap, HMS 1&2 (80:20), cfr Vietnam.
Taiwanese buyers were paying more for imported scrap even though the downstream steel sectors were not performing well.
steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan.
Prices in India moved up again this week, returning to pre-Covid-19-pandemic levels, boosted by last week’s $15 per tonne surge.
steel scrap, shredded, index, import, cfr Nhava Sheva, India.