Price movements in the global ferrous scrap markets were mixed in the past week. Poor demand in India and Turkey caused prices to fall or remain stable, but Asian scrap buyers have accepted increased prices because of higher settlements in the domestic market of the principal supplier, the United States.
Weak downstream markets keep Turkish mills away from spot market Higher freight cost pushes down fob US prices Taiwan, Vietnam accept higher prices India sees price drops for third consecutive week.TurkeyTurkish steel mills did not book any import cargoes in the past week due to weak downstream markets.There was limited spot activity, with offers at $295 per tonne cfr for materials from the Baltic Sea. But there was no interest among buyers for these cargoes.There were market rumors that a steel mill in the Marmara region and another steel mill in northern Turkey may suspend operations for a month.The upcoming Eid al-Adha religious holiday, August 11-14, has also reduced buying interest because the Turkish markets will be closed.The daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey,...