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Turkey Turkish prices jumped at the beginning of the week but by Friday, they came back down to the level of the previous week, market participants told Fastmarkets.
A steel mill in the Marmara region was heard to have booked a European cargo comprising 20,000 tonnes of heavy melting scrap 1&2 (80:20) priced at $238 per tonne cfr, 6,000 tonnes of shredded scrap at $243 per tonne cfr and 6,000 tonnes of bonus scrap at $248 per tonne cfr.
That followed bookings made by Turkish mills earlier in the week of HMS 1&2 (80:20) cargoes from the Baltic Sea region at $250-252 per tonne cfr and from the United States East Coast at $249-252 per tonne cfr.
In total, Fastmarkets heard a total of seven cargoes procured by Turkish mills – totalling 195,000 tonnes – over the week.
“The number of offers I receive from the scrap merchants has increased sharply. But Turkish mills are not purchasing [the same amount of] scrap as they used to do because of the weak rebar market,” a Turkish mill source said.
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 US export scrap market participants told Fastmarkets that they were expecting to see lower selling prices to Turkey because rebar-scrap margins in the latter had dipped way below break-even levels of $170 per tonne.
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 ferrous scrap demand rose last week, with a spate of deals for Japanese H2 scrap and at least one booking of a deep-sea cargo from the US at the end of the week. Pricing history steel scrap, HMS 1&2 (80:20), cfr Vietnam
Taiwan Prices for containerized HMS sold to Taiwan continued to trend upward last week but struggled to break through the $230-per-tonne-cfr threshold.
Pricing history steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan
India Prices for shredded scrap sold to India moved upward last Friday after more steel mills restarted their operations and re-entered the market for scrap. Prices for HMS sold to the country remained flat.
Pricing history steel scrap, shredded, index, import, cfr Nhava Sheva, India