The SteelOrbis webinar titled "Prospects for Turkish Scrap Prices This Summer" broadcast yesterday, June 2, was followed by about 150 participants from 107 different companies and 33 countries all across the world.
Hosted by SteelOrbis general manager Murat Eryilmaz, the webinar featured an analysis on the prospects for the scrap market presented by Burcak Odabasi Alpman, director of market intelligence at SteelOrbis. Mrs. Alpman stated that in May this year Turkish steel mills already completed their scrap bookings for June shipments. However, she said, as suppliers of ex-US scrap have not managed to conclude sufficient scrap sales transactions for June shipment and since their scrap inventories have risen due to seasonal factors, these suppliers are now under increased pressure to conclude new transactions. Besides, Mrs. Alpman added, iron ore prices, which fell below the $100/mt CFR China level in late May, are exerting pressure on scrap prices. On the other hand, scrap demand from Turkish mills traditionally decline in summer and in Ramadan, when maintenance works are carried out, she noted.
You can view more detailed scrap market analyses published monthly in the Orbis Turkish Scrap Forecaster and watch the webinar on Steel TV as of June 9.