Ferrous scrap prices rebounded in Turkey in the working week ended Thursday April 9 amid tight supply in the United States and Europe, but Asian buyers mostly refused to pay the higher prices.
Turkey import scrap prices rocket. Tight supply raises US export prices but low local demand reduces domestic rates. Vietnam looks to Japanese market after US offer prices rise. Taiwan raise bid prices for US scrap but hesitate to conclude deals. Scrap trading in lockdown-hit India remains muted. Turkey
Prices for scrap imported into Turkey from the US East Coast jumped by $18.80 per tonne day on day on Tuesday April 7 after bookings of an EU-origin and US-origin cargo due to lower scrap availability which allowed sellers to push prices upward.
Turkish mills remained out of the market for the rest of the working week, but one major Turkish mill source said he thought prices could not sustain such levels.
"There is a problem with scrap collection because people are under isolation in the EU and the US," he said. "But the mills...