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Turkey Turkish steel mills continued to book deep sea cargoes this week for late-September and October shipments, with at least six cargoes being bought from the Baltic Sea, Europe and the United States.
Steady demand for scrap in the US and recovering steel demand in Turkey have supported scrap import prices, which inched up despite market expectations that the weak Turkish lira would cause prices to fall.
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 Export markets on both coasts were active, with Turkey booking two cargoes from the East Coast and Bangladesh booking two cargoes from the West Coast.
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 in deep-sea bulk cargoes from Australia and the US West Coast remained due to the high offers from Japanese scrapyards, with buyers snapping up cargoes after a buying hiatus.
Pricing history steel scrap, HMS 1&2 (80:20), cfr Vietnam.
Taiwan Taiwanese steel mills continued to purchase imported containerized materials at higher prices, although some sources felt that price increases would not be as sharp in the near term as they have been recently.
Pricing history steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan.
India Prices on the Indian scrap market remained firm this week after a U-turn in sentiment following Turkey’s return to the deep-sea markets, which stalled a move toward softer pricing.
Pricing history steel scrap, shredded, index, import, cfr Nhava Sheva, India.