The import scrap market continues to decline in the last quarter of the year. Market experts are hopeful for a recovery this year as the global demand problem persists. The volatile scrap market has seen significant declines this week. In Türkiye, the market continues to deteriorate and prices are expected to bottom out at around $340/350.
Recent deals from the UK to Türkiye have fallen to $355, while recent purchases from the US market are at $360. The bottom for US scrap is seen at $350 but fears of a $30 drop in the US market in September persist.
In the Indian import scrap market, European prices are currently higher. The latest purchases were made for HMS 80:20 at $365-370. UK offers for shredded scrap are hovering around $385-390. At the same time, Indian buyers are said to be offering less than $380 for 90:10.
Taiwanese buyers bought container scrap at $325 and are currently targeting $320. A Vietnamese buyer bought container 80:20 scrap at around $333.
Pakistan's purchases for HMS 80:20 are at $380 CFR Port Qasim and $415 CFR Port Qasim (from UAE) for Fabrication / Blue Steel scrap. Offers for mill scrap from the UK to Pakistan are hovering around $400 CFR Port Qasim.
According to deals made this week;
Deals from the US to the Aegean region;
HMS 95:5 $373,
Shredded 383$,
HMS 80:20 1/2 $363 CFR Türkiye,
Deals from the USA to the Marmara region;
HMS 80:20 1/2 360$ CFR Türkiye
Shredded 380$
Bonus 380$
(Done Monday)
Deals from the UK to the Aegean region;
HMS 80:20 at $355 (22k total) CFR Türkiye
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