scrap prices

Major global markets faced pressure from uncertainty in the steel market and falling prices for other raw materials

Turkish steelmakers have suspended purchases

The trend was supported by increased demand from steelmakers after the New Year holidays

China stands out from the general trend, where a high supply of raw materials hinders price growth

The positive trend is maintained due to the growth of demand amid limited supply

Interest rates will also affect the scrap steel trade

Restocking by steelmakers slightly increased activity in global scrap markets, but the trend is short-term

Further positive dynamics are at risk due to the potential deterioration of the Chinese economy

Market participants hope that export demand will remain in the near future

In Turkiye, scrap prices increased by 0.8% last week, in China they fell by 1%, and in the USA they remained at the level of the previous week

The country has registered some price declines, but the situation may change at the end of September

In Turkiye scrap is offered for $372-376/t, the USA – $340-354/t, and China – $394.2/t