Published by: Cem Turken<>, Tianran Zhao<>, Amy Hinton<>, Aameer Sayed<>, Carman Chew<>
14 Mar 2025 @ 18:55 UTC

Global steel scrap prices picked up in the week to Friday March 14. Firmer prices in the US market, amid uncertainties about trade tariffs, kept sentiment on the sell-side well supported, while mills in major markets had to raise their downstream product prices to reflect increases in scrap costs.• Turkish mills try to raise long steel offers amid firm scrap costs • US scrap export prices continue on uptrend • Vietnamese scrap import prices continue to climb, steelmakers push downstream product prices upward • Taiwanese steel mills cautious in chasing higher scrap offers amid unchanged rebar fundamentals • Indian scrap offers rise amid strong sell-side sentiment in US, UK, Europe.
Turkey Turkish deep-sea steel scrap prices increased by more than $6 per tonne in the week to March 14 on a fresh deal for US scrap. Turkish steel mills have been pushing up their long steel offer prices to match higher scrap costs.
A steel mill in the Iskenderun region booked a US cargo of HMS 1&2 (80:20) at $380 per tonne CFR for April shipment during the week, taking Turkey’s total deep-sea scrap bookings for April shipment to 10 cargoes. This was the only deal made during the week.
Pricing history steel scrap HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey. steel scrap HMS 1&2 (80:20), US origin, cfr Turkey.
United States US scrap export prices continued to rise in an East Coast sale to Turkey that was heard concluded on Thursday at $380 per tonne CFR for HMS 1&2 (80:20). US exporters were now said to be targeting $390 per tonne CFR for similar material.
Pricing history steel scrap HMS 1&2 (80:20), export index, fob New York. steel scrap shredded scrap, export index, fob New York. steel scrap, HMS 1&2 (80:20), export index, fob Los Angeles.
Vietnam Spot prices for scrap imports into Vietnam increased in the week to March 14, driven by higher offers. Consequently, steelmakers were pushed to raise downstream hot-rolled coil and rebar prices.
Pricing history steel scrap, HMS 1&2 (80:20), cfr Vietnam.
Taiwan Spot prices for US-origin containerized scrap imports into Taiwan were rangebound over the past week. Suppliers from the US kept their export offers firm due to tariff uncertainties, but most Taiwanese mills remained cautious about chasing higher offers because of unchanged fundamentals in their local rebar market.
Pricing history steel scrap, HMS 1&2 (80:20 mix), US material import, cfr main port Taiwan.
India Indian steel scrap prices surged remarkably in the week to March 13, due to very strong sell-side sentiment in the US, Europe and the UK, driven by consecutive price upticks in the bellwether Turkish scrap market, coupled with the strengthening of the euro and the pound sterling against the US dollar.
Pricing history steel scrap, shredded, index, import, cfr Nhava Sheva, India.