Despite continued crash in Chinese domestic steel prices, global levels of scrap remained firm on continued buying by Japanese, SEA and Turkish buyer’s lat week.
1. Turkey - Buying restarts at higher offers
The level of import offers CNF Turkey has shown a big rise in last week after Turkish buyers returned to buy scarp to maintain their output amid rising prices of rebars.
| Product | Grade | Size mm | Change |
| Scrap | A3 | 500x500x1500 | 30 |
Change is on August 21st 2009 as compared to August 14th 2009
In USD per tonne
2. China - Steel price crash reverses scarp levels
The domestic transaction prices of steel scrap in various locations exhibited major dip, after big surge in the previous week, in line with price correction seen in both long and flat steel products.
Scrap
6-8mm
Foundry
| Location | In CNY | In USD |
| Shanghai | 0 | 0 |
| Zhangjiagang | -110 | -16 |
| Hangzhou | 0 | 0 |
| Laiwu | -40 | -6 |
| Loudi | -100 | -15 |
| Lingyuan | -170 | -25 |
| Beijing | -100 | -15 |
| Jinan | -50 | -7 |
| Hefei | -50 | -7 |
| Jiangyin | -130 | -19 |
| Guangzhou | -100 | -15 |
| Chongqing | -50 | -7 |
| Wuhan | -100 | -15 |
| Anyang | -50 | -7 |
| Wuyang | -50 | -7 |
| Liupanshui | -50 | -7 |
| Kunming | -100 | -15 |
| Lanzhou | -100 | -15 |
| Tianjin | 0 | 0 |
| Benxi | 0 | 0 |
| Acheng | 0 | 0 |
| Tonghua | -50 | -7 |
| Tangshan | -100 | -15 |
Change is on August 21st 2009 as compared to August 14th 2009
3. India - Market sluggish on dormant long products
Indian domestic scrap prices exhibited mixed trend last week.
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 300 |
| Kandla | -89 |
| Mumbai | 1000 |
| Mandi | -370 |
| Kolkata | 711 |
| Kanpur | 0 |
| Rudrapur | -267 |
| Hyderabad | 0 |
Change is on August 21st 2009 as compared to August 14th 2009
Change is in INR per tonne
4. Rotterdam - Moves up in tandem
With the European players coming back from vacation, FOB Rotterdam prices moved up in tandem with global levels last week.
| Change |
| 15 |
Change is on August 21st 2009 as compared to August 14th 2009
In EUR per tonne
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(Sourced from www.steelprices-europe.com)
