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Turkey Turkish steel mills booked a handful of scrap cargoes this week, but strictly to cover requirements amid poor sales of finished steel in the export and domestic markets.
Buyers were heard bidding as much as $10 per tonne lower than previous transactions, but did not manage to book any materials.
A short working week, due to public holidays in Turkey and the UK on August 30, also limited spot trading activity.
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 The US saw limited transactions to key import markets in Turkey and Asia 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.
China More production cuts announced in various parts of China have added further uncertainty to market sentiment, with buyers continuing to bid at levels far below offers for Japanese HS scrap.
Pricing history steel scrap, index, heavy recycled steel materials, cfr east China
Vietnam Spot liquidity was limited by a four-day holiday starting from September 2. The worsening Covid-19 pandemic also damped import demand.
Pricing history steel scrap, HMS 1&2 (80:20), cfr Vietnam.
Taiwan Buyers of containerized scrap were increasingly looking toward bulk supplies of Japanese H1&H2 (50:50) to fill a supply gap.
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 remained steady after trading activity was resumed.
Pricing history steel scrap, shredded, index, import, cfr Nhava Sheva, India.