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Recent deep-sea and short-sea cfr Turkey scrap deals

  • : Metals
  • 25/01/30

A summary of the most recent deep-sea and short-sea cfr Turkey ferrous scrap deals seen by Argus.

Ferrous scrap short-sea trades (average composition price, cif Marmara)
DateVolume, tPrice, $ShipmentBuyerSellerCompositionIndex relevant
27-Jan3,000350FebruaryMarmaraRomaniaBonusY
24-Jan3,000329JanuaryMarmaraRomaniaHMS 1/2 90:10N
22-Jan3,000325JanuaryMarmaraBulgariaHMS 1/2 90:10Y
Ferrous scrap deep-sea trades (average composition price, cfr Turkey)
DateVolume, tPrice, $ShipmentBuyerSellerCompositionIndex relevant
29-Jan30,000349 (80:20)FebruaryIskenderunUSAHMS 1/2 80:20, P&S, shredY
28-Jan40,000340 (80:20)MarchIzmirUKHMS 1/2 80:20, bonusY
28-Jan30,000342.50 (80:20)FebruaryIzmirScandinaviaHMS 1/2 80:20, P&S, bonusY
28-Jan30,000342.50 (80:20)FebruaryIzmirUSAShred, bonusY
22-Jan18,000332.50 (80:20)FebruaryIskenderunCont. EuropeHMS 1/2 80:20, shred, bonusN
22-Jan30,000345 (90:10)FebruaryIskenderunUSAHMS 1/2 90:10, bonus (option)Y

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25/03/06

US gov layoffs lead Feb job cuts: Challenger

US gov layoffs lead Feb job cuts: Challenger

Houston, 6 March (Argus) — US-based employers announced 172,017 job cuts in February, the highest for the month since 2009, led by federal job cuts, according to consultancy Challenger, Grey & Christmas. The total for February is a 245pc increase from 49,795 cuts announced in January and is up by 103pc from a year prior. The government led all sectors in planned job cuts, with 62,242 cuts announced from 17 different agencies as part of the Department of Government Efficiency (DOGE)'s mass layoffs and contract cancellations. Employers in the first two months of 2025 announced 221,812 job cuts, the highest for the two-month period since 2009, when 428,099 job cuts were announced. The year-to-date total is up by 33pc from a year ago. "With the impact of the Department of Government Efficiency [DOGE] actions, as well as canceled government contracts, fear of trade wars, and bankruptcies, job cuts soared in February," said Andrew Challenger, senior vice president for Challenger, Gray & Christmas. An order to fire about 200,000 probationary federal employees was blocked by a federal judge, Challenger said. "When mass layoffs occur, it often leaves remaining staff feeling uneasy and uncertain," Challenger said. "The likelihood that many more workers leave voluntarily is high." The Challenger report comes a day before the monthly employment report from the Labor Department. Analysts surveyed by Trading Economics forecast 160,000 nonfarm jobs were added last month, up from 143,000 in January. The jobs report is based on a survey that includes the pay period encompassing the 12th of the month, while most of the job cuts captured by Challenger were in the latter part of the month. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Tosyali Toyo stops rolling line after fire


25/03/06
25/03/06

Tosyali Toyo stops rolling line after fire

London, 6 March (Argus) — Turkish re-roller Tosyali Toyo, subsidiary of Tosyali Holding, has stopped production at one rolling line at its Osmaniye site after a fire broke out on Sunday, market participants told Argus . Tosyali Toyo declined to comment. A fire occurred but it was contained to the Toyo facilities, a source at the Osmaniye Organised Industrial Zone said. Production at the impacted line will be halted for about three months, one market source said. The Osmaniye site has a 1mn t rolling capacity and manufactures tins, galvanised sheet, dyed sheet, cold rolled sheet and pickled-oiled rolls, according to the company's website. Market participants added that Toyo might be seeking to offset any disruptions by using a production line owned by a different Turkish re-roller. This week cold-rolled coil offers in the Turkish market moved up by roughly $10/t to $680-700/t ex-works. By Carlo Da Cas and Elif Eyuboglu Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Rio Tinto completes Arcadium Lithium takeover


25/03/06
25/03/06

Rio Tinto completes Arcadium Lithium takeover

London, 6 March (Argus) — Global mining giant Rio Tinto has today completed its $6.7bn buyout of global chemicals producer Arcadium Lithium, soon to be renamed Rio Tinto Lithium. Rio confirmed that it would buy Arcadium in October 2024 , the seventh-largest lithium producer in the world by market capitalisation as of January 2024. Rio Tinto aims to bring its lithium assets to about 200,000 t/yr of lithium carbonate equivalent by 2028. In 2024, Arcadium sold 42,300t of lithium salts, including lithium hydroxide and lithium carbonate, along with 140,000 dry metric tonnes of spodumene concentrate. The company posted net income of $131.7mn in 2024, down from $330.1mn in 2023. The firm had to suspend some operations at its Mount Cattlin mine in Western Australia while also delaying its expansions . Arcadium will place its Mount Cattlin mine into care and maintenance by the middle of the year, after suspending it in September on low prices, potentially placing upward pressure on prices. The top three lithium mining companies accounted for around 54pc of global production in 2023, a higher portion than the 15pc for nickel and 47pc for cobalt, according to the IEA. Market participants told Argus earlier this year that lithium prices are unlikely to recover until the second half of 2026 on high inventories and a glut of supply set to come on line (see graph) . "Arcadium and the predecessor companies failed to advance a world class suite of assets on a timely basis," Global Lithium Podcast host Joe Lowry told Argus . "Hopefully that will change being part of a large company with a significant balance sheet." By Chris Welch Lithium carbonate equivalent (LCE) production t Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Japan’s domestic EV sales drop further in February


25/03/06
25/03/06

Japan’s domestic EV sales drop further in February

Tokyo, 6 March (Argus) — Japanese domestic sales of passenger electric vehicle (EVs) fell on the year for a 16th consecutive month in February, mostly because of lower demand for domestic brand EVs. Sales totalled 4,390 units in February, fell by 20pc from a year earlier, according to data from three industry groups — the Automobile Dealers Association, the Japan Light Motor Vehicle and Motorcycle Association and the Japan Automobile Importers Association (JAIA). Sales were also down by 3.8pc on the month. EVs accounted for 1.2pc of the country's total passenger car sales in February, down by 0.7 percentage points from a year earlier. The fall in EV sales is mostly attributed to weaker demand for domestic brand EVs. Sales of Nissan's Sakura, the country's top selling EV model, fell by 33pc on the year to 1,760 units. Demand for foreign brand EVs remained firm in February, according to JAIA's representative who spoke to Argus . Sales of foreign brand passenger EVs rose to 1,829 units, up by 11pc from a year earlier, marking the fourth consecutive month of year-on-year growth. Imported EVs accounted for around 42pc of Japan's total domestic EV sales, up by 12 percentage points from a year earlier. Chinese manufacturer BYD resumed normal shipments in Japan after a partial delivery suspension in January , according to JAIA. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump delays Canada, Mexico tariffs for carmakers


25/03/05
25/03/05

Trump delays Canada, Mexico tariffs for carmakers

Washington, 5 March (Argus) — President Donald Trump's administration said today it would give a one-month reprieve for the top three US auto-makers from the stiff tariffs he imposed Tuesday on energy and other imports from Canada and Mexico. Trump told chief executives of GM, Ford and Chrysler that "we are going to give a one month exemption on any autos coming through" the US-Mexico-Canada (USMCA) free trade agreement, specifically for those car manufacturers, the White House said this afternoon. Nearly all trade between the three countries is covered by the USMCA, so a return to any terms of that agreement would mean lifting tariffs Trump imposed on Tuesday. The USMCA rules exempt cars manufactured in any of the three countries using parts made in or substantially transformed in any of the three countries, from US tariffs. The tightly-intertwined US and Canadian auto manufacturing industry could grind to a halt in as little as 10 days due to US tariffs, Ontario premier Doug Ford said on Tuesday. The 25pc tariff Trump imposed would be applied multiple times as raw materials and partially assembled vehicle components can cross the US-Canadian border between manufacturing plants as many as eight times before becoming a finished vehicle. The temporary exemption applied to a segment of the North American auto manufacturing industry is the first instance of a hasty policy retreat the Trump administration began to signal late Tuesday, the very day Canada and Mexico tariffs went into effect, roiling financial markets. Trump and the White House have alternatively downplayed the negative economic effects of tariffs, or suggested that the additional costs from import taxes would fall on foreign producers, not US consumers. "Tariffs are about making America rich again," Trump said in an address to Congress on Tuesday. "There will be a little disturbance, but we are OK with that." Trump also said that his policy agenda "will allow our auto industry to absolutely boom". But the tariffs Trump imposed have caused consternation and complaints across vast segments of the US economy, including the oil and gas sector he promised to champion. "We cannot stress enough the importance of the energy interconnection between our three nations, especially Canadian oil and electricity, to the American economy," oil industry group American Energy Alliance president Tom Pyle said today. "Imposing tariffs on these essential energy sources would unnecessarily disrupt the complex and integrated supply chain that has developed over 50 years." The White House said that Trump "is open to hearing about additional exemptions". Confusing signals The Trump administration accompanied the decision to temporarily exempt the US auto-makers with a barrage of mixed signals, insults lobbed at Canadian prime minister Justin Trudeau and accusations of insufficient cooperation on interdiction of drugs, which is the pretext for tariffs. The one-month reprieve should be sufficient for auto manufacturers "to get on it, start investing, start moving shift production here to the US," the White House said. It also said that the one-month reprieve period would coincide with the 2 April target date for Trump's "reciprocal tariffs" on all foreign auto imports, and that there would be no additional reprieves. "I also told Governor Justin Trudeau of Canada that he largely caused the problems we have with them because of his Weak Border Policies," Trump said this afternoon via his social media platform, following a conversation with Canada's leader. Trudeau in his remarks on Tuesday called Trump's tariffs "a very dumb thing to do" and vowed to keep the retaliatory Canadian tariffs in place until Trump completely reverses his tariffs on Canadian imports. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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