Having witnessed slow activity last week, the Turkish import scrap market has also made a quiet start to the current week in terms of booking activity. Current import HMS I/II 80:20 scrap offers to Turkey from the US, Baltic region and the UK are standing at $383-390/mt CFR, while the most recent import HMS I/II 80:20 scrap deals have been concluded at $380-382/mt CFR. No new deals have been heard as of this week yet, though since many import scrap offers are available in the market and as Turkish steelmakers are in need of scrap, the coming days will likely be characterized by increased activity.
Meanwhile, if Turkish producers, who are currently waiting for a recovery in rebar demand, accelerate their scrap purchases, they will likely be able to conclude bookings at the low end of the above offer price range as there are plenty of import scrap offers in the market.