Global deep-sea ferrous scrap sales to Turkey are ramping up at higher prices, stoking bullish sentiment for US exports and March’s domestic trade alike

Turkish steel producers made no deep-sea scrap bookings on the first day of the working week, but are expected to return to the market for August cargoes soon, market sources said on Monday June 28.

The Turkish steel mills have been staying away from deep-sea scrap purchases because of weak rebar sales and a sufficiency of scrap stocks, market participants told Fastmarkets on Tuesday June 22.

The latest Western sanctions arising from Russia's invasion of Ukraine will have little impact on the global hot-briquetted iron (HBI) market unless key buyers in the European Union adopt the measures, Fastmarkets understands

Any bolstering effect on US ferrous scrap exports from the up-month in February’s domestic trade will be tempered in the immediate aftermath of two earthquakes in Turkey — the country’s largest importing region — on Monday, February 6

Turkish steel mills remained largely silent in the deep-sea scrap import markets due to continued sluggish finished steel demand in both domestic and export outlets, market participants told Fastmarkets on Wednesday June 2.

Domestic prices for steel rebar in Russia’s Central Federal District around Moscow increased again over the past week, driven by improving demand, sources told Fastmarkets on Monday March 29.

Russia’s output of steel products, local demand and export sales all dropped in 2022 due to trading sanctions imposed after its invasion of Ukraine on February 24, 2022 - but the reductions were smaller than the markets expected

Fastmarkets proposes to discontinue the converted price assessments for the following markets:

Fastmarkets proposes to discontinue the converted price assessments for the following markets: