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
FGM-Pacesetter expands into Houston with NSPS Metals deal
Flack Global Metals (FGM) announced Thursday that it would expand into Texas by assuming the Houston operations of NSPS Metals.
Ryerson reports net loss in Q3 as weak demand offsets tariff price support
President and CEO Eddie Lehner said Ryerson has faced market headwinds in the third quarter.
HARDI: Galv demand improves in October, higher prices expected in new year
Participants on this month’s Heating Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council call expect galvanized steel base prices to firm up in the first quarter of 2026.
Global steel production falls to near two-year low in September
World crude steel output declined for the fourth-consecutive month in September, slipping 3% from August to an estimated 141.8 million metric tons (mt), according to the latest figures from the World Steel Association (worldsteel).
Market sources say regional activity is dictating plate demand
Demand for plate on the spot market remains soft by comparison to years past. However, this week regional demand variations grew more pronounced.