Economy
CRU: Turkish Scrap Import Prices Unchanged
Written by Rosy Finlayson
March 28, 2023
CRU has rolled-over its Turkish scrap price due to low market activity. Trading has slowed over the past two weeks as buyers are unwilling to accept current price levels in anticipation of a downward correction.
Thus, the CRU-assessed Turkish scrap price for HMS1/2 80:20 remains unchanged week-on-week (WoW) at $460 per metric ton CFR.
Similar to developments in the scrap market, buyer reluctance in the Turkish finished steel market has led to price falls. The Turkish rebar export price is now at $725 per metric ton FOB (down $20 WoW) and the Turkish HR coil export price is now at $830 per metric ton FOB (down $30 WoW). Scrap prices are bound to fall off current levels if a downtrend continues for finished steel prices in the coming weeks.
Meanwhile, in the Asian scrap market, no fresh deals were heard last week. This is despite Japanese bulk offers to Vietnam dropping by $15-20 WoW to $445 per metric ton CFR.
By Rosy Finlayson, CRU Research Analyst
This article was originally published on March 27 by CRU, SMU’s parent company.
Request more information about this topic.
Learn more about CRU’s services at www.crugroup.com
Rosy Finlayson
Read more from Rosy FinlaysonLatest in Economy
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.