Turkish steel companies are increasing inventories of scrap, using a low prices on American scrap due to internal crisis of overproduction and declining demand.
Currently, the average price for the supply of scrap to Turkey is $383 per ton CFR. The last recorded delivery included 12 cargo, 6 of them were sent from the United States and the rest of Europe. Turkey imports scrap from Russia and Romania at an average price of $360 per ton.
SOGRA
Prices on the British black scrap for delivery in November fell by ?15-25 ($24-40) per tonne due to the weakness of export demand for almost all kinds of scrap and low-level of material consumption of local steel companies. Shredded scrap prices dropped by ?20-25 per tonne month-on-month, rolled OA, and structured scrap fell to ?240-250 per tonne compared to ?260-270 per tonne previously. Old scrap 1&2 have fallen in price on ?25 to ?225-235 per tonne. According to local traders, the price cuts may continue in the coming months.
MetalTorg.Ru
The average price of black American H1 scrap in Pittsburgh, Chicago and Philadelphia as of September 24, remained unchanged from the previous week. It is reported Yieh.com.
In particular, average scrap prices in Pittsburgh were at $349,5 for t in Chicago – $354,5 per ton and in Philadelphia – $338,5 per ton, unchanged compared with the previous week.
MetalTorg.Ru
Import of steel products in the United States continues to increase, while its own production has reached the lowest level in the last five years.
Last week steel production has decreased to 618 thousand tons in the Great Lakes region. The total output of steel decreased by 3.4 %.
Steel production in the United States last week was at the level of 1.65 million tons, a week earlier she made up 1.71 million tonnes.