International scrap prices fall in May 2013
Headlines | 2013-05-15 13:44:44
The price of scrap has fallen on international markets over the past month, as a result of low demand from mills.
By Paul Ploumis
London(ScrapMonster): The price of scrap has fallen on international markets over the past month, as a result of low demand from mills.
Imported scrap prices into Turkey, the largest scrap-importing nation, weakened rapidly from April to May.Steel mills in the country were working with the lowest scrap stocks possible and cutting their production, according to market sources.
The Metal Bulletin daily index for imported scrap into Turkey fell to $361.36 per tonne on Monday May 13 from $380.49 on Friday April 12. The latest statistics on Turkish scrap imports tell a similar story. Turkey imported 1.55 million tonnes of scrap in March 2013, which is 7.87% less than in the corresponding month of last year, according to the Turkish statistical institute (TUIK).
Turkish domestic scrap prices tracked the international market lower. Steel First’s weekly assessment for domestic auto bundle (DKP grade) scrap was TRY605-705 ($334-389) per tonne on May 13, down from TRY655-730 ($361-403) per tonne on April 15.
Courtesy : metalbulletin.com
