Taiwan was the sole active buyer of ferrous scrap in the week ended Friday April 24 amid limited demand from other key markets.
Turkey still out of spot marketUS recyclers pay more amid domestic shortageVietnamese buyers keep focus on Japanese scrapTaiwanese buyers pursuing containerized cargoesIndia lockdown still affecting market
Turkey
Steel mills in Turkey
did not make any bookings for deep-sea cargoes of scrap last week due to lower steel output as a result of weak downstream demand. It was also a shorter-than-usual work week due to holidays.
At least six steel mills have stopped production and at least five have reduced output by 35-70%, market sources told Fastmarkets.
Turkey had bought seven deep-sea cargoes of scrap amounting to almost 220,000 tonnes in the week ended April 17.
Fastmarkets' daily index for
steel scrap, heavy melting scrap (HMS) 1&2 (80:20), US origin, cfr Turkey was $258.00 per tonne cfr last Friday, unchanged week on week.
The daily index for steel scrap, HMS 1&2 (80:20),...