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Turkey Turkish steel mills did not purchase any deep-sea cargoes in the earlier part of the week but returned to the markets from Wednesday onward to purchase three cargoes.
These comprised two US deep-sea purchases and one European buy.
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 Recyclers operating on the United States’ East Coast dropped their purchase prices after hearing of a sale concluded at a $5 per tonne discount to Turkey.
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 Vietnamese buyers were largely on the market sidelines, waiting for prices to bottom-out before entering the spot market again. European scrap has been offered to Vietnam, a clear sign of bearish sentiment building in Europe for the key Turkey import market.
Pricing history steel scrap, HMS 1&2 (80:20), cfr Vietnam.
Taiwan Taiwanese steel mills were actively seeking lower prices due to falling regional prices. Downstream rebar prices have also fallen.
Pricing history steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan.
India Poor demand and logistical issues weighed on the price of containerized scrap imported into India, edging it downward for another week.
Pricing history steel scrap, shredded, index, import, cfr Nhava Sheva, India.