Global ferrous scrap prices surrendered to the downward pressure created by weak mill demand and tepid finished steel sales during the working week from Monday November 12 to Friday November 16, with the exception of those in India.
Turkish import scrap prices fell, with only four cargo bookings made during the week. Import prices in Taiwan and Vietnam also continued to trend downward. India's import scrap prices, meanwhile, pushed upward due to higher offer prices.Turkey importsAfter several days of silence, Turkish steelmakers returned to the deep-sea scrap market on November 15 and booked two cargoes at lower prices.A steel producer in northern Turkey booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $335 per tonne cfr.Another steel mill in the Iskenderun region booked a United States cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $335 per tonne and 3,000 tonnes of bonus scrap at $340 per tonne cfr."It seems the prices will continue to fall," a Turkish mill source said on November 15. "We will probably hear a couple more deals at $330-332 per tonne cfr for HMS 1&2 (80:20) and then prices...