The ferrous scrap market has been a reflection of the finished steel market this quarter - at least in Europe and Southeast Asia, according to Ukrainian steel market analytics firm Delphica.
A recent report advised the market as being characterized by poor buyer interest in light of weak finished steel demand and ample supplies, in spite of a temporary stoppage on Ukrainian exports.
In Europe, the largest import market for ferrous scrap, Turkey, has recently placed an order for a 20,000-ton US delivery of HMS 1 & 2 (80:20) and Shredded with the HMS priced at US $401/metric ton CIF. This is in line with last month’s prices that have hovered a few dollars either side of US $400/ton for HMS 1 & 2 mixed cargoes.
In Asia, South Korea imported more in February than January, 811,000 tons against 666,000 tons. Even so, prices have remained under pressure with HMS 1 quoted at US $420/ton and HMS 1&2 mixed at $380-390/ton.
However, buyers are few and far between in March with the expectations that prices will fall some $10-15/ton.
Delphica goes as far as giving a prediction for prices over the next couple of months for the Turkish market (the destination of a significant quantity of U.S. exports) as below.
Lower Turkish prices may dissuade U.S. exporters from exporting for a few months and improve availability of domestic supply, particularly if the U.S. dollar strengthens on continued European market uncertainty.
by Stuart Burns
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Ferrous Scrap Price: Turkish, Asian Markets In The Doldrums
Published 04/04/2013, 02:41 AM
Updated 07/09/2023, 06:31 AM
Ferrous Scrap Price: Turkish, Asian Markets In The Doldrums
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.