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Steel scrap prices crash this week at Turkey and South Korea

Prices of steel scrap prices crashed at world’s two most important importing countries ie Turkey and South Korea this week.
As, steel scrap prices are considered to be the first indicator of price trends of finished steel, the crash signals likely correction in finished steel especially for billets and long products like rebar;

Origin Item Size Grade Type Location Currency WoW MoM QoQ YoY
US Scrap HMS 1&2 (80:20) CFR Turkey USD -13 -44 -28 -34
CIS Scrap HMS 3A CFR Turkey USD -10 -38 -20 -25
Japan Scrap HMS 2 CFR South Korea USD -11 -26 -46 -52


Source – SteelGuru’s Market Intelligence Services PS14

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