Ferrous scrap prices moved in differing directions in the various global markets over the week from Monday October 22 to Friday October 26, depending on their market fundamentals.
Import prices in the key Turkish market were on a slight upward trend due to consistent demand, while prices in Asia dipped because there was sufficient supply and weak demand.Export prices on the West Coast of the United States followed the weaker Asian prices, while prices on the East Coast rose because of the stable demand from Turkey.Turkey importsTurkish steel producers continued to book deep-sea scrap cargoes on Friday and also confirmed other earlier transactions, pushing prices upward at the end of the week.A steel mill in the Marmara region booked a Baltic Sea cargo on Friday comprising 25,000 tonnes of HMS 1&2 (80:20) at $333 per tonne cfr and 5,000 tonnes of bonus grade at $342 per tonne cfr.More deep-sea cargo deals were also heard in the market on Friday. All told, these brought the week's bookings to 223,500 tonnes of material, in the form of three European, three...