Turkey's import scrap prices, which had changed their direction to a rising trend last week, are still increasing this week.
Ex-US HMS I/II prices to Turkey, which had declined as low as $415/mt CFR two weeks ago, had seen the level of $427/mt CFR Turkey in a transaction concluded early last week. Coming closer to the current week, ex-US HMS I/II 80:20 prices have reached $435/mt CFR in a transaction concluded at the weekend. In the meantime, a shredded scrap transaction price from the US to Turkey was at $440/mt CFR in a recent booking heard.
After the market heard an ex-Netherlands scrap transaction to Turkey concluded at the weekend, it is thought that ex-US HMS I/II 80:20 offers to Turkey may increase further this week and exceed the level of $440/mt CFR.