Ferrous scrap prices went up in almost all of the major markets during the working week from Monday July 1 to Friday July 5, following the rebound in Turkish prices.
Turkish import prices continued to rise with August shipment bookings A US scrap sale to Turkey raised sentiment in the export and domestic markets Mixed signals in the Asian scrap market Shredded scrap prices moved up in India despite negative sentiment.TurkeyTurkish steel mills started their deep-sea scrap purchases for August shipment at the end of last week with prices going upward.The steel producers in the country booked six deep-sea cargoes this week, totaling almost 200,000 tonnes.The daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, ended the week at $296.18 per tonne on July 5, up from $288.52 per tonne on June 28.https://www.metalbulletin.com/My-price-book.html?price=37728The daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $303.36 per tonne on Friday, up from $293.98 per tonne a week ago.Market participants believed that the demand for deep-sea scrap was the only factor driving the...