Global ferrous scrap prices continued to move down across all the major scrap markets during the week ended Friday September 13, with buyers postponing buying activity in the expectation of securing lower prices after prices fell in Turkey, turning worldwide sentiment negative.
Fresh Turkey bookings continue downward price trend
US prices fall on recent cargoes
Taiwan, Vietnam prices down on weak trading
Prices down in India in fresh trading.
Turkey
Turkish steels mills purchased just two cargoes this week, one late on Monday, sending prices downward, before another cargo on Friday recovered less than $1 per tonne. But prices remained down by $10.23 per tonne since the start of the week.
The daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, ended the week at $236.40 per tonne on September 13, down from $243.63 per tonne on September 9.
The daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $243.30 per tonne on September 13, down from $250.53 per tonne on Monday.
United States
The US found new destinations for its East Coast scrap cargoes in the week ended September 11, avoiding the volatile Turkish market and…