Ferrous scrap prices in Asia have started to come off in the new year, with market sources expecting a downward trend to emerge in the near term.
Taiwanese buyers lowered their bids this week in the face of limited offers, especially after domestic billet prices in Turkey started to dip. Major Turkish mills were reported to have lowered their offers for the semi-finished product by $5-10 per tonne.Fastmarkets' price assessment for bulk cargoes of steel scrap HMS 1&2 (80:20), cfr Vietnam was $300-305 per tonne cfr on Friday January 3, unchanged from...