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Weekly: Global Ferrous Scrap Market Overview

Global scrap market observes mixed sentiments this week, amid COVID-19 lockdown. Imported scrap offers moved up in Turkey and South Asian countries. Whereas Japan’s domestic and export scrap purchase prices remained weak for yet another week, and Chinese domestic scrap purchase price again lowered this week. Further, it is expected that due to ongoing COVID-19 lockdown worldwide, both demand, as well as supply, will be on the lower side, keeping trades slow for the coming weeks.
Turkey: Imported scrap prices to Turkey rebounded sharply thisweek amid tight supply at yards due to low scrap availability and slow inflow. In the latest confirmed deal, a recycling yard from Russia, sold a bulk cargo to a Turkish steelmakerbased in Eastern Black Sea Region, comprising of HMS 1&2 (90:10)

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