According to market sources, this week's HMS I/II 80:20
scrap offers from
Lebanon to
Turkey stand at $345/mt CFR. Demand for ex-
Lebanon scrap in
Turkey's Iskenderun region remained on the slack side in the past week, as buyers focused on deep sea
scrap purchases.
Deep sea
scrap offers had indicated a decline as of early last week. If this soft trend is replaced by sideways movement, Turkish buyers may slow down their deep sea
scrap bookings in order to exert pressure to achieve further declines in deep sea prices. So if the Turkish mills do slow down their deep sea
scrap bookings, they will likely instead turn their attention to short sea sources and the Mediterranean region in particular for their
scrap purchases, which would result in an improvement in demand for Lebanese
scrap in
Turkey.