Chill wind blows through end-of-year trading

摘要

Traders have been seeing lower rewards for their cargoes in the face of weak finished steel prices.Latest shipment rates for HMS l/ll 80/20 dropped below US$ 300 in December and have stayed lower.Ferrous scrap prices in Turkey have fallen by more than $50 per tonne since the last report due to sales of finished steel products in the domestic and export in Turkey remaining poor,reducing the buying requirements for scrap.Other global scrap markets are being dragged down by the weaker market conditions in Turkey and have themselves also been suffering from poor finished steel sales.There was a flurry of deep-sea cargos booked towards the end of October which valued HMS l/ll 80/20 from Europe and Baltic origin to Turkey at US$327-333 according to Fastmarkets,up from US$324-328 per tonne cfr reported in the last issue of Rl.