Scrap Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/e82896c471e7856adf4c80b6c733dc0f.jpg)
CRU: Turkish Scrap Prices Fall for First Time Since September
Written by CRU Americas
January 15, 2021
By CRU Research Analyst Yusu Mao, from CRU’s Global Steel Trade Service
Last week, Turkish scrap import prices fell for the first time since September 2020. CRU recorded two deals and assessed HMS 1/2 80:20 at $446 /t CFR (- $34 /t w/w, -$27 /t m/m). The enlarged spread between HMS 1/2 80:20 and shredded scrap prices remained at $11 /t—a level that has remained the same since the week ended Jan. 8.
According to market contacts, one potential reason for this price drop is that steelmakers believe the scrap sellers have more supply availability. This can be partly attributed to a seasonally atypical increase in scrap collection and delivery in markets like the U.S. where winter has been generally mild. Also, mills have been keener to build scrap inventories given the rapid price increases w/w since September.
Along with the sudden drop in scrap prices, Turkish finished steel export prices also fell last week, with rebar and HR coil export prices decreasing for the first time since mid-October. Rebar prices have decreased to $635 /t FOB from $655/t FOB; and HR coil prices dropped to $790 /t from $800 /t last week.
However, finished steel markets in major Turkish export destinations have remained buoyant. In the U.S., HR coil prices rose to their highest levels $1,072 /s.ton FOB (+ $28 /s.ton). Likewise, German HR coil price rose to €698 /t, up by €33 /t w/w, while prices in Italy rose to €689 /t (+€42 /t w/w).
The Market is Beginning to Turn
We expect that Turkish scrap import prices will continue to fall into February, albeit at a relatively gradual pace. We then expect a larger decrease to take place in March, followed by a reversion back to a more historically average level throughout 2021 Q2.
Request more information about this topic.
Learn more about CRU’s services at www.crugroup.com
CRU Americas
Read more from CRU AmericasLatest in Scrap Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/11/Up_Arrow.png)
HRC vs. scrap spread widens but remains low
The price spread between hot-rolled (HR) coil and prime scrap widened slightly in August but remains in territory not seen since late 2022, according to SMU’s most recent pricing data.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/04/RMU-logo.png)
RMU: The most underappreciated scrap grade
Over the last several years, I have noticed widening spreads between #1 Heavy Melting Steel (ISRI 201) and Shredded (ISRI 210,211), as well as Plate & Structural (ISRI 232).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/scrap3.jpg)
Domestic scrap tags flat in April
April scrap prices came in sideways in the US, sources told SMU.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/04/RMU-logo.png)
RMU: Interest rates, weather hit Radius Recycling’s earnings
Low manufacturing activity and higher interest rates took a toll on Radius Recycling’s profits during the Oregon-based company’s most recent quarter. Radius reported a net loss of $34 million, or $1.19 per share, during its fiscal second quarter. In the previous quarter, Radius saw a net loss of $18 million, or 64 cents per share.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/04/RMU-logo.png)
RMU: Northern buyers enter April scrap market sideways
Several large buyers in the North came into the market on a sideways basis from prices paid in March. The development comes after recent speculation about what prices US-based steelmakers would pay for scrap for April shipments.