STEEL SCRAP WRAP: Prices slipping across global markets

• Turkish mills make fresh bookings at lower prices
• US export prices consistent in recent bookings
• Vietnam scrap prices down on weak demand
• Chinese import prices fall alongside domestic pricing
• Taiwanese scrap prices continue downtrend on poor demand
• Indian scrap offers withdrawn from market.

Turkey
Mills in Turkey booked at least five deep-sea cargoes this week, with prices dropping through the week despite rising freight rates, due to continued poor demand for finished long steel.

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
Prices in the United States export market have remained consistent on the cargoes sold to Turkey this week.

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
Prices on the Vietnamese scrap market continued to slip during the week due to weak downstream demand for long steel.

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

China
In China, scrap prices move downward across the week on a drop in domestic scrap pricing linked to enforced production cuts.

Pricing history
steel scrap, heavy recycled steel materials, cfr China

Taiwan
Spot prices in Taiwan continued on a downtrend amid poor demand.

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

India
Prices for shredded steel scrap into India moved progressively lower through the working week.

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