Skip to main content

Ferrous scrap prices turn the corner?

Global – Having dropped from around US$ 360 per tonne to just below US$ 300 in little more than a month, prices for ferrous scrap imported by leading buyer Turkey have shown the first signs of not only stabilising but even mounting a recovery.

Shredded prices into Turkey had exceeded US$ 360 per tonne on a cfr basis at the height of the most recent market upturn but September and early October brought a steady erosion of values.

However, Turkish mills’ purchasing activity late last week and in the early part of the current week indicates a recovery to around US$ 310 per tonne for US-origin HMS I/II 80/20 scrap and US$ 315 for shredded.

Iron ore prices have also declined in recent weeks, with Metal Bulletin’s 62% Fe index sliding from a high of almost US$ 80 per tonne in late August to below US$ 62 in early October.

Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.

You might find this interesting too

All change after healthy 2021
Steep fall in Turkish steel scrap imports, India seeing ‘exponential growth’ 

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe now and get a full year for just €169 (normal rate is €225) Subscribe