Steel Products
CRU: Turkish Scrap Prices Stabilize Due to Limited Buying Activity
Written by Rosy Finlayson
September 5, 2023
Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM).
The holiday on August 30 was partly the reason for slow trade last week. This has also meant that Turkish finished steel prices have been flat over the past few weeks. Turkish rebar is currently priced at $580 /metric ton, while HR coil is priced at $625 /metric ton.
Meanwhile, in the Asian scrap market, prices picked up slightly in South Asia and Taiwan, China but have remained unchanged in Southeast Asia due to weak demand. Containerized scrap to Taiwan, China is up by ~$5 /metric ton to $370-375 /metric ton CFR, while offers for H2 and deep-sea bulk HMS1/2 80:20 shipments to Vietnam are stable at $390 /metric ton CFR and $400 /metric ton, respectively.
Rosy Finlayson
Read more from Rosy FinlaysonLatest in Steel Products
Domestic, offshore CRC prices diverge
The price spread between US-produced cold-rolled (CR) coil and offshore products narrowed again in the week ended Jan. 31, as imports edged higher and US product ticked lower.
US HR price premium over imports widens
Hot-rolled (HR) coil prices ticked up in the US this week, while tags abroad were mixed. The result: the margin US hot band holds over imports on a landed basis widened slightly.
Plate report: Mills pushing price up, but still willing to talk
Repeated mill price hikes this week may have stopped the bleeding and could signal a rebound.
Higher tags expected for February scrap settle
The US scrap market sentiment has become more bullish over the last week. Many districts are telling SMU that the potential rise in prices will exceed the earlier estimate of $20 per gross ton (gt). Several sources have pegged the February market as up $30-50/gt. Here are several regional viewpoints from the trade: In the […]
SSAB, Evraz also up plate prices by $60/ton
Two US plate mills – SSAB Americas and Evraz North America (NA) – have followed Nucor so far in raising plate prices, with the opening of their March order books. The increases are effective immediately for all new orders, both mills said in letters to customers. Evraz NA said it was increasing transactions by at […]