The price of scrap imports into Turkey has remained
relatively stable through to mid-December.
Following the
November buying-spree by mills, demand has dropped
back down to one or two cargoes a week. Supply is also
reportedly getting tighter now that winter has set in, all of
which could see prices remain stable through to January.
The December US domestic buy-week saw prices either
remain flat or up as much as US$20/l. ton depending on
region and volume bought.
Some are talking up a rise of
US$10-20/l. ton in January owing to tighter flow into
yards. Others felt some yards held onto tonnages this
past buy-week, so there could be a lot of material to shift
against a backdrop of continuing slack steel demand.
Scrap prices into Taiwan have remained flat in early December.
There remains little market for ISRI grade scrap in the
country, with mills still taking a preference for imported billets and
Japanese-origin scrap.
India has now imposed import duties on cold-rolled steel products,
and participants are reportedly waiting to see if further anti-dumping
measures will be introduced for other grades. If more measures are
introduced we could see an increase in demand for raw materials
and a likely uptick in prices. For the time being the market remains
stable with offers over US$200/t for shredded, but mills are reluctant
to pay over US$200/t for material at present.
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