- Turkey books Canadian, Baltic Sea scrap
- US export prices to go higher
- Vietnam buys deep-sea bulk cargoes
- Taiwan chases containerized scrap prices higher
- Indian market remains subdued.
Turkish steel mills continued to purchase imported scrap cargoes at higher prices to feed downstream long steel production. Steel mills in the country have been actively offering rebar cargoes to Hong Kong and Singapore, with at least one cargo sold and one more under price negotiation.
Turkish scrap buyers booked Canadian and Baltic Sea cargoes this week instead of United States-origin material, which has been offered at higher prices compared with other origins.
steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey.
steel scrap HMS 1&2 (80:20), US origin, cfr Turkey.
Market sources expected more purchasing activity in the near term and at higher prices, due to strong demand from global steel mills and limited scrap flows.
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 has purchased at least two deep-sea cargoes this week, turning away from Japanese H2 cargoes due to the narrow premium.
steel scrap, HMS 1&2 (80:20), cfr Vietnam.
Taiwanese buyers have continued to purchase containerized cargoes at higher prices because of high prices for finished products.
steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan.
Indian prices were largely unchanged this week due to lackluster interest for imports among mills.
steel scrap, shredded, index, import, cfr Nhava Sheva, India.