Global scrap prices rebound

Turkey’s imported scrap prices have shown strong fluctuation in recent deals. Buyers are actively booking new cargoes for March 21 shipments due to increased domestic demand for finished steel.

Japan’s main EAF steel mill, Tokyo Steel has increased the purchase price of scrap at its Utsunomiya plant by $57. However, prices for the other four plants remained unchanged, including the Tahara plant. Increased export offers of Japanese scrap, along with improved consumption, led to an increase in domestic offers as well.

Offers of imported scrap to India have rebounded this week. However, trade has yet to improve due to the disparity between supply and demand.

East China’s largest steel producer, Shagang Steel, kept its scrap purchase price unchanged from the past two weeks. Prices for HMS (stood at $493), including 13% VAT, delivered to its headquarters.