UTC+8 ( BJT)

Weekly: Global ferrous scrap market overview

Global ferrous scrap market sentiments turned bearish as no deep-sea scrap cargo bookings were reported by Turkish steel mills throughout the week. Imported scrap prices in India & Pakistan fall by around $10 w-o-w. Japanese scrap export trades slowed down as South Korean mill books Russian cargo.
Turkey -Turkish mills kept themselves away from the deep-sea scrap market this week as many steel manufacturers have sufficient scrap inventory with their mills, and this could be the reason they did not make any fresh bookings. Global suppliers were unwilling to drop offers below $297-$299/t CFR level. SteelMint's assessment for USA

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