Global ferrous scrap prices headed in differing directions during the working week ended Friday May 18, with prices in the bulk sector losing ground while prices for containerized material to Taiwan pushed upward.
Turkish scrap import prices slid on lackluster finished steel demand with the start of the Islamic holy month of Ramadan, while prices for exports from the United States fell in two deals to Asian buyers. Imported containerized shredded scrap prices in India moved downward alongside Turkish bulk pricing.Bucking the downward trend, prices for imported containerized scrap in Taiwan rose on stable buying activity and good end-user demand.Turkey importsTurkish steelmakers headed back to the market sidelines for the first half of the week after one mill paid a $16 per tonne premium for shredded scrap in a UK cargo traded on May 15.The Marmara-region steel mill booked 44,000 tonnes of HMS 1&2 (80:20) at $345 per tonne cfr and 22,000 tonnes of shredded scrap at $366 per tonne cfr.Shredded scrap usually trades at a $5 per tonne premium over HMS 1&2 (80:20), but the supplier said that the unusual price difference...