Global scrap markets were quiet in August mainly caused by the summer vacation along with the Ramadan. Due to the decreasing demand, Japanese scrap prices slightly dropped accordingly.

Considering the uncertainties in the global economy, most buyers are cautious in purchasing.

But, the global scrap prices expected to grow further in September, as Turkish buyers seem to return the markets after the Ramadan and the stock rebuilding in European & American steel mills. 

Prices unlikely to drop this week said traders based in India and Turkey