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Weekly: Global Ferrous Scrap Market Overview

Global ferrous scrap market witnessed downward trend in prices for all major markets yet again. Turkish buyers returned to the market with numerous bookings at lower prices. Offers to South Asian markets moved down, while 3 US origin Bulk cargoes were booked to Bangladesh and Pakistan, although container shortage freight rates remain an issue. Japan's scrap export prices saw decline, while China's Shagang Steel kept its bids unchanged this week.
Turkey –Some more clarity on imported scrap prices to Turkey was reported after several bookings were concluded in the latter half of the week, following a period of silence for more than a week prior to that. Among the latest confirmed bookings,a Lithuania based scrap recycler sold a 40,000 MT cargo

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