Global ferrous scrap prices continued to fall sharply in major markets during the working week from Monday March 23 to Friday March 27, because of the worsening Covid-19 pandemic.
Turkish import prices slump furtherBuying prices down at US East Coast docksTaiwan import price at three-year lowIndian market collapses on lockdown order; price drops $44 per tonne.
Turkey
Prices in the world's largest scrap import market, Turkey, plunged once again last week amid cuts in production, plant closures and weak steel trade resulting from the global spread of the coronavirus.
A steel mill in the Iskenderun region booked a UK cargo of 15,000 tonnes of HMS 1&2 (80:20) at $226 per tonne cfr, market participants reported on March 24.
As a result of that deal, the
daily scrap indices went down by $17.08 per tonne.
The daily scrap indices have now
fallen by $23.90 per tonne since March 18.
Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20), North Europe origin, cfr Turkey, ended last week at $224.55 per tonne,...