Scrap Prices North America
April 16, 2019
CRU: Scrap Price Falls Aided by Improved Supply
Written by Tim Triplett
By CRU Analyst Michelle Liu
Turkish prices have continued to fall, down $7 /t w/w for the week ending Friday, April 12, to $305 /t CFR for HMS 80:20. Warmer weather has increased supply in the U.S. and Europe, placing downward pressure on scrap prices there. This was compounded by reduced scrap demand on both sides of the Atlantic due to mill maintenance outages in the U.S. and softer steel demand in Europe. We heard four Turkish scrap deals being concluded last week totaling around 120 kt.
