There have been a number of both container and bulk scrap sales made in the last week, as some prices are beginning to trend higher after a brief drop. At the end of November and into early December, Turkish mills were pushing down scrap export prices out of the US, with bulk prices falling to about $383-$385/mt CFR for a mix of HMS I/II and shredded scrap. Turkish mills snapped up a few cargos at the lower prices and had been actively purchasing scrap out of the UK as well, at prices only a few dollars below US prices. Sources told SteelOrbis that the sudden burst of activity came from a perceived temporary pricing bottom, as well lean scrap inventories in Turkey. By the end of this past week, though, exporters once again began pushing for higher prices and Turkey picked up a few more cargos at about $388-$390/mt CFR. Sources anticipated that if Turkey would continue to buy scrap in the following days, the export prices would continue to rise.
On the US West Coast, ex-US container HMS I/II scrap prices to Taiwan have fallen again in the last couple weeks, with the latest deals reported in the range of $355-$360/mt CFR, down about $5-$10/mt since late November. While container sales to Taiwan have been decent, but nowhere near robust, bulk scrap sales to both Vietnam and Korea have improved in the last couple weeks. Current bulk scrap offers to Korea off the US West Coast are about $390/mt CFR, although a few deals were concluded at prices just below. Meanwhile, bulk HMS I/II sales to Vietnam were confirmed at prices about $10/mt higher.