• Turkish import prices slump following fresh deals
  • US sales to Turkey, Bangladesh show weaker prices
  • Lower offers from Japan keep Vietnam buyers out of market
  • Taiwan mills drop bid prices throughout the week amid weaker sentiment
  • Indian prices slump by $50 per tonne.

Turkey
Bookings for bulk scrap imports into Turkey continued at lower prices this week, with market participants expecting further decreases in the week ahead.

The most recent deal heard by sources – for a Baltic Sea cargo on January 20 - put the HMS 1&2 (80:20) price at $440 per tonne cfr Turkey.

But the number of offers in the market has increased since that deal was done, and prices have gone down accordingly, with suppliers in the Baltic Sea region offering HMS 1&2 (80:20) at $430-435 per tonne cfr by Thursday, a trading source said.

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.

United States
US export scrap prices have moved down amid fresh sales to both Turkey and Bangladesh, with sources in the country expecting further decreases in the next deals.

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
Interest for imported ferrous scrap in the key Vietnam market went down over the week due to a sharp price downtrend from exporters in both Japan and the US.

Pricing history
steel scrap, HMS 1&2 (80:20), cfr Vietnam.

Taiwan
Taiwanese scrap buyers dropped their bid prices dramatically amid lower offer prices. Offer prices on containers of HMS 1&2 (80:20) fell from $425-430 per tonne cfr Taiwan at the end of last week to just $405 per tonne cfr on Friday.

Pricing history
steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan.

India
On the Indian market, shredded prices plunged by $50 per tonne following a sharp correction in the international scrap market.

Pricing history
steel scrap, shredded, index, import, cfr Nhava Sheva, India.