Import scrap purchases have stalled in the Turkish domestic market. No new deal has been heard in the market after an ex-US HMS I/II scrap deal concluded at $401/mt CFR early this week. As Turkish buyers are not in need of scrap at the moment, they are not in any rush to book import scrap and so demand has remained light.
Import scrap purchases have stalled in line with the price deterioration in the Turkish long steel market and weak long steel purchasing activity on the export side. Meanwhile, the silence in the Turkish scrap market is expected continue until the middle of next week as the European and the US markets will be on their Easter holidays. On the other hand, this week scrap purchase prices have indicated decreases in the domestic market.