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WEEKLY: Scrap price up globally, bid down in South Asia

ABSTRACT

Global ferrous scrap trading remained upbeat for yet another week on active trades in Turkey following the uptrend in the domestic and overseas markets amid high offers. Japan's monthly Kanto scrap export tender for Feb'22 was concluded on 9 Feb, which generated active buying interest for the second successive month. However, with a drop in steel prices in India and Pakistan, bids fell towards the weekend.
Turkey's import prices rise by $20/t, w-o-w: Imported scrap prices into Turkey surged after recent deals was concluded from the EU and the USA. Considering the positive market sentiments, mills are ready to accept higher imported scrap offers as there are limited suppliers in the market. A UK-origin cargo comprising 25,000 t

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