Uneven Global Scrap Market Trends in October
The global scrap market showed mixed trends in October. Prices climbed in Turkey and the US due to strong import demand and export support. Turkish scrap prices rose 2.7%, hitting $348.1 per ton CFR, driven by mills’ increased buying to meet November needs. Meanwhile, US scrap prices gained 2.7%, reaching $303 per ton FOB on the East Coast. Export activity and recovering demand in Turkey and Egypt supported US prices. However, both markets may see price stabilization as demand remains cautious.
EU and China Scrap Markets Face Price Pressure
In contrast, scrap prices in China and the EU remained weak in October. China’s domestic scrap prices fell slightly by 0.5% to $340.46 per ton, pressured by low steel demand and reduced electric arc furnace activity. Imports stayed stable at $330 per ton CFR but saw little trading activity. The EU market also struggled; Germany’s prices held low at €280 per ton, while Italy’s fluctuated between €297.5 and €305 per ton. Weak steel demand and ample scrap supply kept prices under pressure. Industry groups voiced concerns over proposed export restrictions, fearing negative market impacts.
SuperMetalPrice Commentary:
October’s global scrap market highlights regional disparities. Turkey and the US benefit from export flows and import demand, while China and the EU face sluggish steel sectors. These contrasting trends reflect differing industrial cycles and trade policies. Market participants should watch for potential stabilization or corrections, especially if Turkey’s demand cools or export restrictions in the EU emerge. Overall, the outlook suggests a cautiously balanced market with localized price movements.
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