US scrap exports aided by Turkish activity

Tuesday, 20 July 2010 17:26:10 (GMT+3)   |  
       

Purchase activity of ex-US scrap by Turkish producers has helped a relatively quiet US export market, as transactions remain strong despite the approaching Ramadan holiday.

Turkish producers have maintained a steady appetite of imported scrap over the past few weeks, despite this being a period in which Turkish mills traditionally slow activity. Prices for ex-US HMS I/II 80:20 are currently heard at $340-$345/mt CFR Turkey, down $5 from last week.

In contrast, US scrap export activity to the Far East has been hit-or-miss. As previously reported by SteelOrbis, offer prices for ex-US material to China has been heard in the approximate range of $375-$380/mt CFR, up from previous weeks (although these pricing models are still too high in the eyes of Chinese mills). Container activity has also slowed, with prices falling $10-$15/mt in some regions. Current prices for ex-US containerized HMS I/II 80:20 are heard at $330-$335/mt CFR Taiwan and $320-$325/mt CFR Korea. It was thought by many that as freight dropped ($60-$65/mt container Dallas and  $35-$40/mt container West Coast) and prices began to soften, that activity would increase. However, demand for finished products in Far Eastern regions are heard to be slacking, therefore, significant transactions have yet to be reported.  


Similar articles

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials

Baltic countries and Czech Republic seek EU ban on ex-Russia scrap imports

27 Mar | Steel News

US iron and steel scrap exports down 12.9 percent in January

26 Mar | Steel News

European scrap prices move up above $385/mt

26 Mar | Scrap & Raw Materials

Wholesale metal scrap sales in Mexico decrease 15.6 percent in January

25 Mar | Steel News