ANKARA (Scrap Monster): Global scrap prices are surging on the increasing crude oil prices and ocean freight rates. Turkish steel mills have already rushed for bulk buying fuelling the scrap prices.
Turkey’s purchase prices of the US container HMS 1:2 (80:20) have increased to US$466/ton C&F, up by US$16/ton in comparison of the previous levels.
In the mean time, the US mills have increased prices of container HMS 1:2 (80:20) to US$471/ton C&F to Turkey. The US mills have also raised the scrap prices to Taiwan’s market, the prices of vessel HMS 1:2 (80:20) have increased by US$10/ton.
Traders indicated that Taiwan’s steel mills would be forced to accept the new prices as the global scrap prices are predicted to soar further in the next few months, Yieh Corp reported.