The scrap prices in the major markets, other than the United States, have softened in line with weak demand from Turkish steel producers during the working week from Monday January 15 to Friday January 19.

Turkish steel producers continued their deep-sea scrap bookings this week with the support of domestic finished steel demand, while Taiwanese import and US export prices went up with the latest trades heard during the period from Monday May 8 to Friday May 12.

Steel scrap prices in the major global markets have shown strong declines following the sharp fall in Turkish imported scrap values during the working week from Monday April 2 to Friday April 6.

Offers for Brazilian slab will likely increase in April on sellers’ optimism despite growing resistance from buyers, after the United States temporarily delayed its Section 232 import tariffs on Brazil.

Global ferrous scrap prices softened during the week ended Friday May 25, with falling Turkish scrap prices and the country’s weaker lira muting trade activity both within the country and internationally.

High prices for steel slabs from the CIS region and Brazil are unlikely to cause further price increases in the Turkish coil and Italian heavy plate markets, according to market sources.

Ferrous scrap prices in the bulk sector dipped during the working week ended Friday April 20 due to downward pressure from Turkish import prices, which fell midweek in several trades for material from the United States and the Baltic Sea.

The global scrap markets have shown mixed dynamics during the working week from Monday July 25 to Friday July 29, as Turkish prices slipped at the end of the week while Indian, Taiwanese and US prices advanced.

Prices for ferrous scrap in the major global markets kept rising over the past seven days despite questions over how the new US import tariffs on steel could affect the scrap markets.

The steel industry in the USA will have the ear of president-elect Donald Trump as his incoming administration pushes through potentially radical changes to the country’s trade policies, according to industry experts.