December 2023

Global scrap prices mostly sideways or lower amid holiday week

Prices in global steel scrap markets were flat or fell in the week ended Friday December 29, although Chinese steelmakers bucked the trend by bidding higher to compete for tight winter scrap supply.

Pakistani mills pause steel scrap bookings amid sluggish domestic market, Red Sea crisis

Pakistani steel mills continued to avoid steel scrap bookings in the week to Friday December 29, mainly due to a minimal appetite for steel scrap after recent bookings, sources told Fastmarkets.

Turkey books HRC from Russia to close year

Turkish buyers booked hot-rolled coil from Russia’s Novolipetsk Steel during the week ended Friday December 29 for March-April shipping, sources told Fastmarkets.

Turkish coated coil prices stable in slow market; buyers wait till January

The market for coated coil in Turkey was slow during the week to Friday December 29 with buyers preferring to wait and see the direction of prices in January, sources told Fastmarkets.

Indian steel scrap bookings remain slow amid sluggish local demand, cheaper available distressed cargoes

Indian steel scrap importers continued to pause new bookings in the week to Friday December 29, following slower local finished steel demand and resulting cash liquidity issues, sources told Fastmarkets.

Indian mills cut domestic HRC prices to boost sales, reduce inventory.

Indian mills have reduced hot-rolled coil prices in a bid to boost sales and cut domestic inventory.

Turkish deep-sea scrap prices fall again

Turkish deep-sea steel scrap import prices fell for the second time this week on Friday December 29, on soft demand and weak steel sales, sources told Fastmarkets.

Black Sea billet market quiet ahead of holidays; mood bearish

The Black Sea export billet market was silent during the week to Friday December 29 ahead of the year-end holidays.

Vietnam steel scrap import prices track Turkey, Taiwan lower

Spot prices for steel scrap imports into Vietnam showed signs of easing in the week to Friday December 29, in line with Turkish and Taiwanese scrap markets, Fastmarkets understands.

Scrap prices in China continue uptrend amid dropping arrival volumes, restocking needs

Market sentiment in Chinese domestic scrap market was bullish during the week to Friday December 29, with tight supply of the material and mills’ restocking needs lending support to prices, according to market sources.