Weekly: Global ferrous scrap market overview
Nov 10, 2020 10:00
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Global ferrous scrap prices recovered this week on tightening supplies and winter restocking. Deep-sea Turkish imported scrap prices rose on flurry of deals. Following Turkish trends, prices in South Asian markets increased. Domestic prices in China and Japan also strengthened on improved demand.
Turkish imported scrap prices up by $5 w-o-w, seven cargoes booked -Mills continued to actively restock scrap inventory which further increases import scrap prices, while the buyers even ready to pay a premium level price and get their material booked ahead of winters. Some scrap suppliers now don't have material