Weekly: Global ferrous scrap market overview
Nov 03, 2020 11:00
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Global ferrous scrap prices rebounded this week on availability concerns. With nearly ten deep-sea scrap cargo bookings being heard, mills remained active in restocking. Following this price in South Asian markets also increased and a bulk scrap booking being reported by Bangladesh mill. Domestic prices in China also strengthened.
Ten deep-sea scrap bookings booked by Turkish mills -Turkish buyers continued to book bulk scrap cargoes from different origins for late Nov-early Dec'20 shipments. Buyers and steelmakers consider that it's better to replenish their scrap inventory before the winter holidays and nearly ten bookings were heard by SteelMint this week.