Global scrap prices in the key markets diverged in the week to Friday June 18, with those in Asia moving upward, while Turkish scrap prices fell amid slow buying driven by uncertainty over finished steel sales.

Turkish deep-sea scrap import prices have increased sharply since China decided to remove the export tax rebate on some steel products. But demand among major scrap importers in Asia was still limited because of upcoming holiday periods in the region.

The publication of Fastmarkets’ European aluminium scrap and secondary prices assessments for Friday April 30 have been delayed because of a technical issue.

Turkish steel mills have extended their silence in the deep-sea scrap market due to limited finished long steel demand, especially in the domestic market, participants told Fastmarkets on Thursday April 15.

Turkish deep-sea scrap import prices edged up on Tuesday after firm offers from the Baltic Sea region, although many mills were looking to achieve further rebar sales in the export and domestic markets before purchasing more scrap, sources said on March 30.

How demand growth and substitution will affect Asian and global markets

Improving demand for finished and semi-finished steel products across the major outlets has increased scrap prices in the major markets over the week to Friday November 13.