Global ferrous scrap market overview: week 49, 2019

Global ferrous scrap market observed an upwards trend in all the major markets this week. Turkey booked a few cargoes at sharply increased prices, and the uptrend in offers reflected in South Asian Markets too, however buying remained slow. Japanese Tokyo Steel observed two price hikes for its scrap purchase bids this week, while China’s Shagang Steel kept its bids unchanged.
Turkey Imported scrap offers to Turkey surged up over the last week, with prices in recently concluded deep-sea cargo bookings rising by over USD 10/MT CFR In recent deal reported, a Turkish steelmaker based in Mediterranean region booked a bulk vessel of 27,000 MT cargo from a Baltic based scrap recycling yard, comprising of 24,000


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