【Scrap Steel】International Market Primarily Upward

According to market reports from Turkey, since November 1, Turkish steel mills have been generally replenishing their scrap steel inventories, and as of November 16, at least 23 batches of imported scrap steel have been purchased by Turkish steel mills. Some market insiders in Turkey suggest that after concentrated scrap steel procurement in the first half of November to replenish inventories, steel mills are expected to slow down their purchases in the second half of the month. Further understanding of the market situation of graphitized petroleum coke carburant for electric furnace steelmaking.

This Tuesday, a steel mill in the Karabük region of Turkey purchased a batch of scrap steel from the UK, with a deal price of $379 /ton for 1&2 heavy scrap steel (80:20) (CFR) and $404 /ton for shredded scrap steel (CFR). In the Asian market, due to the current historically low exchange rate of the Japanese Yen against the US Dollar and the recent increase in import scrap steel prices in Turkey, most Japanese suppliers have raised their scrap steel export prices in Yen this week. The mainstream export prices for Japanese scrap steel in the first half of this week are as follows: H2 scrap steel at ¥51,000-51,500 ($337.1-340.4) /ton (FOB), with an overseas buyer offering ¥50,500 ($333.8) /ton (FOB); HS scrap steel at ¥54,000-54,500 ($356.9-360.2) /ton (FOB), with an overseas buyer offering ¥53,500 ($333.8) /ton (FOB); and shredded scrap steel at ¥53,000-53,500 ($350.3-353.6) /ton (FOB), with an overseas buyer offering ¥52,500 ($347) /ton (FOB).

This Tuesday, overseas buyers purchased a batch of Japanese HS scrap steel and Shindachi scrap steel at an average deal price of ¥54,300 ($358.9) /ton (FOB). This week, buyers in Taiwan purchased a batch of Japanese shredded scrap steel at a deal price of $385 /ton (CFR), equivalent to approximately ¥52,500 ($347) /ton (FOB). Contact us and follow more information about the steel industry.