Weekly: Global Ferrous Scrap Market Overview
Jun 02, 2020 11:00
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Global scrap market witnessed a mixed trend this week. One hand Turkish mills went on a buying spree pre Eid as well as post Eid holidays amid firm prices, while South Asian markets observed slow trades on subdued demand, with stable to slight uptick being observed in offers. Japan's domestic rose significantly, following the export offers rally, while China's domestic scrap observed price cut this week.
Turkey:Just after the Eid holidays, Turkish millsresumed imported scrap bulk cargo bookings, and numerous deals from US, Balticand Europe origins were reported. The price differential between USA and Europeorigin further narrowed, on tighter availability in the continental yards, in comparisonto USA.
In the last 2 days, a 50,000 MT mixed cargo