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Global ferrous scrap market overview: week 48, 2019

Global ferrous scrap market observed a rising trend in almost all the major markets this week. Turkey witnessed a couple of bookings at significantly increased prices, while offers to South Asian markets remained firm with slow buying activities slow. Japanese Tokyo steel hiked its scrap purchase prices while China’s Shagang steel observed two price cuts in a week.
Turkey Imported scrap prices to Turkey have moved up all through this week in a couple of deep-sea cargo bookings that concluded this week. In recent deal reported, a Turkish mill booked 40,000 MT scrap cargo from US; comprising of HMS (80:20) at USD 272/MT; Shredded at USD 277/MT. Assessment of US-origin HMS 1&2 (80:20) scrap now

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