Global ferrous scrap market witnessed steep downtrend in almost all major markets this week. As Turkey’s recent bookings plunged the global prices in the middle of this week, South Asian markets quickly followed the declining trend in prices, while India observed a slight improvement in terms of demand. Japan's Tokyo Steel lowered its scrap purchase price twice this week while South Korea's Hyundai steel lowered its bids after a 2 months gap. China's Shagang Steel hiked its purchase bids on a marginal rise in steel prices.
News ID: 6418 Publish Date : 2019/09/07
Prices have come down by around USD 15-20/MT in a week's time with couple of deals being reported to Turkey yesterday.
News ID: 6377 Publish Date : 2019/09/04
Global availability of deep-sea ferrous scrap bulk cargoes is poised to rise next week, adding to the growing pressure on the Turkish scrap import price over the past three days.
News ID: 6209 Publish Date : 2019/08/28
SteelMint learned from industry participants that Turkish imported scrap market has opened up after witnessing absence for Eid al-Adha holidays last week. Steelmakers have returned to the market however, no major deal has been reported yet. Weak demand for Turkish finished steel in the global market continues to put pressure on the margins of Turkish steelmakers, consequently inching down imported scrap prices further.
News ID: 6156 Publish Date : 2019/08/25
Two Marmara-based mills were confirmed to have sold cargoes into the US in the past 24 hours, providing a potential outlet for other mills looking to move material in the short term.
News ID: 6116 Publish Date : 2019/08/22
Global ferrous scrap market observed very limited activities this week as Eid holidays kept participants away resulting in softening or stability in almost all major markets. Turkey, Dubai, Pakistan, Bangladesh and Indonesia remained sidelines while Indian market awaits for stimulus to the economy. US scrap suppliers look for upward movement in coming days while Japanese scrap prices remained flat on Obon festivity and trade tensions with South Korea.
News ID: 6052 Publish Date : 2019/08/19
Turkey, the world’s largest ferrous scrap importer, has observed increase in imports of ferrous scrap, Iron ore, Semi finish & Finish products in Q2’19 on a quarterly basis, as per recent data released by the customs department. The country's crude steel production recorded at 16.99 MnT in H1’19, down 10% as against 18.86 MnT in H1’18.
News ID: 5998 Publish Date : 2019/08/17
Global ferrous scrap prices observe softening in almost all major markets on weak demand this week except East Asia. Turkey steelmakers booked a single cargo, however, Japanese scrap prices observe marginal correction in the monthly Kanto monthly export tender. Chinese scrap prices lowered successively on sharp fall in Iron ore prices with three price cuts announced for domestic scrap purchase by Shagang Steel.
News ID: 5991 Publish Date : 2019/08/17
Global ferrous scrap prices remained majorly rangebound on limited trades being reported. Turkey steelmakers remained totally silent, however, increasing domestic scrap prices in US and expected improvement in the Japanese scrap prices likely to pull spot scrap prices up in the coming days. Chinese scrap prices hit a record high with the recent hike announced for domestic scrap purchase by Shagang Steel.
News ID: 5767 Publish Date : 2019/08/06
SteelMint learned from industry participants that Turkish imported scrap market has maintained silence so far this week with no fresh deal being reported in the market. Standoff situation between steelmakers and supplier yards extended further as a few steelmakers postponed their remaining August shipment bookings temporarily.
News ID: 5729 Publish Date : 2019/08/05
Global ferrous scrap prices showed mixed trends in major markets this week. Japanese scrap prices begin rising with Tokyo Steel raised its scrap purchase bid, however, South Korea's Hyundai Steel remained silent. Turkey observed stability in prices against last week, while South Asian markets witnessed slowing down in trades thus keeping prices almost flat.
News ID: 5645 Publish Date : 2019/08/01
This week, the price of RSA chrome ore has gone up by USD 5-7/MT CIF China due to supply quantity control by major suppliers. This prompted the mainstream producing countries such as Turkey and Pakistan to lift up their offers on future supply.
News ID: 5643 Publish Date : 2019/08/01
This week, the price of RSA chrome ore has gone up by USD 5-7/MT CIF China due to supply quantity control by major suppliers. This prompted the mainstream producing countries such as Turkey and Pakistan to lift up their offers on future supply.
News ID: 5555 Publish Date : 2019/07/29
ICT ministers of Iran, Russia, Azerbaijan and Turkey discussed the creation of a regional pact on infomation and communications technology.
News ID: 5279 Publish Date : 2019/07/18
Global ferrous scrap prices observed mixed trend this week. Turkey observed softening on a standoff between buyers and sellers which has resulted in a sharp correction in global offers towards the closing of the week.
News ID: 5236 Publish Date : 2019/07/17
SteelMint learned from industry participants that Turkish imported scrap prices have moved down, as steelmakers took a short pause amid weak sales of rebar and billet in both domestic and export markets in Turkey.
News ID: 5144 Publish Date : 2019/07/13
Global ferrous scrap prices observed mix trend this week. Turkey has observed rebound by USD 12-13/MT in recent deals, following which global offers from US and European markets likely to revive reflecting in an increase in imported scrap prices in South Aisa and East Asia in upcoming days.
News ID: 4977 Publish Date : 2019/07/02
Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said on Wednesday that the US has run out of moves to pose further pressures on Tehran, adding that his country is restoring its position in the global oil market with increasing supply to its international customers through new methods.
News ID: 4917 Publish Date : 2019/06/27
Apassenger train resumed a weekly service on Tehran-Tabriz-Van Railroad at 9:30 a.m. on Monday, after it was suspended for nearly four years.
News ID: 4900 Publish Date : 2019/06/25
The global billet market is struggling to recover from the aura of sluggish sentiments. This week CIS billet assessment weakened by USD 10-15/MT amid fall Turkey's scrap import prices which lowered by USD 15/MT W-o-W. SteelMint’s assessment for US origin HMS (80:20) scrap to Turkey is USD 279/MT, CFR against USD 293/MT, CFR a week back.
News ID: 4895 Publish Date : 2019/06/24
