Weekly: Global ferrous scrap market overview
Aug 04, 2020 10:00
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Global scrap market continued to surge upward as buyers are very active in the market. Turkey again achieving higher prices through the week. Following the Turkish price trend, imported scrap prices for South Asian market like Pakistan and India observed an uptick by the closing of this week. Whereas, Bangladesh imported scrap offers remained stable against last week, however, trades in bulk were reported throughout the week. Japanese scrap export prices to South Korea remain stable and many deals were concluded this week, while domestic scrap purchase price again moved up this week in the Kanto region.
Turkey:This week, Turkish imported scrap prices have hit over four months high as similar price levels were seen in early Mar '20. Around 8-9 bulk cargo bookings were observed from USA and Baltic origin since middle of the week, witnessing active bookings at increased prices before the Eid holidays.