Global ferrous scrap prices were mostly little-changed during the week ended Friday December 28 due to illiquid spot trading.
The thin liquidity was caused by the year-end holiday season, when most market participants had already left the spot market for their vacations. Key import markets such as Turkey, Taiwan and Vietnam did not see many negotiations for ferrous scrap. Demand is expected to resume from next week after market participants return from their holidays. Turkey importsThe Turkish deep-sea scrap import market was mostly quiet during the week due to the holiday period being observed in most regions. The thin liquidity continued from early in the week, when mills' bids were below offers, sources said on December 24.Offers for HMS 1&2 (80:20) were reported at around $290 per tonne cfr from European suppliers, while offers from other sources were at around $295-300 per tonne. However, the mills were still resisting those offers and were not bidding any higher than $280 per tonne cfr, sources said, due to the low rebar and billet values.Some Turkish...