The upturn in global steel scrap prices continued for the second week with improvement at CFR Turkey and FON Rotterdam prices.
Turkish scrap buyers are reported to have given firm bid to USA supplier for HMS 70:30 at USD 380 per tonne CFR FO receiving flat refusal. USA suppliers are indicating a price close to USD 400 per tonne.
Scrap was in under tension in Italy where producers were finding difficulties to collect enough quantities due to production stop of different major industrial groups among which also Fiat. Price has taken during last days an increase of about EUR 15 per tonne to EUR 25 per tonne, climbing from EUR 280 per tonne to EUR 300 per tonne and even EUR 310 per tonne DDU. In North Europe price is maintaining previous positions with a possible expected modest increase of EUR 5 per tonne to EUR 10 per tonne.