Seasonal slowdown sends down steel prices in major markets

• Tuesday, July 20, 2021
• Source:ferro-alloys.com

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• Keywords:Turkey, US, Pakistan, Vietnam

[Ferro-Alloys.com] The Turkish steel mills continued to limit their deep-sea scrap bookings due to weak finished steel sales, while the downturn in the country had a knock-on effect on prices in the global markets.

 

Summer slowdown hits US export market.

 

Covid-19 pandemic shuts down local long steel and scrap markets in Vietnam.

 

Domestic supply tightened by rainy season in the north and high temperatures in the south of China.

 

Prices for shredded steel scrap imports into Pakistan were broadly stable during the week to Friday July 16, while Indian prices fell further, sources said. Pakistan market participants reported deals at $550 per tonne cfr at the start of the week, but after a mid-week drop in the Turkish scrap market.

 

Source: Fastmarket

 

 

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