Turkish ferrous scrap import prices rebounded at the end of the working week of Monday February 5 to Friday February 9, boosted by expectations that finished steel demand is likely to bounce back soon.
Import scrap prices in Taiwan are still trending downward on very limited demand before the Lunar New Year, while Indian import prices moved in the opposite direction due to an improved appetite for scrap from its steelmakers. Turkish imports Turkish steelmakers were active in the bulk ferrous scrap market this week, booking at least eight bulk ferrous scrap cargoes from suppliers in the United States, UK and Europe. A steel mill in the Iskenderun region booked a US cargo comprising 13,000 tonnes of HMS 1&2 (80:20) at $345 per tonne, 10,000 tonnes of shredded at $350 per tonne and 2,000 tonnes of bonus at $355 per tonne cfr on February 5. The next day, an Izmir steelmaker booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $343 per tonne, 20,000 tonnes of shredded at $348 per tonne and 5,000 tonnes of plate and structural scrap (P&S) at...