Surging steel demand in the majority of global markets pushed prices up in most regions in the week to Friday May 14. Only the United States deep-sea ferrous scrap market remained inactive, while Chinese scrap prices fell victim to softer prices for finished steel products.
Turkey secured European scrap at an increase to satisfy surging finished steel demandHigher offers failed to tempt US exporters to marketBullishness pervaded the Vietnamese market; prices rose following Turkey's leadChinese buyers lowered or withdrew bids for scrap amid softer steel pricesA lack of supplier offers moved Taiwanese prices higherIndian buyers increased their bids to secure scrap ahead of potential supply issues.Turkey retreated from the global steel scrap export markets for...