Global ferrous scrap prices ended the downtrend during the working week from Monday June 24 to Friday June 28, with Turkish mills returning to the market for August shipment deep-sea cargoes, bringing a positive sentiment to the market.
Turkish import prices increase sharply on resumed buyingUS export markets remain weak with sales from West CoastCheaper Japanese scrap to limit US imports into AsiaIndian imported scrap prices likely to hit bottom TurkeyTurkish steel mills stayed away from the deep-sea scrap markets until the end of the week, resisting firming offers.Still, a steel mill in the Izmir region broke the silence in the deep-sea markets with a UK cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $293 per tonne, 15,000 tonnes of shredded at $298 per tonne and 5,000 tonnes of bonus scrap at $303 per tonne cfr on Friday, June 28.The daily index for Northern Europe-origin HMS 1&2 (80:20) scrap ended the week at $288.52 per tonne on June 28, up from $273.10 per tonne on June 21....