With Turkish producers continuing their import
scrap purchases, import
scrap transaction prices in
Turkey are observed to have moved up further, while new import
scrap offers to
Turkey are currently at even higher levels. SteelOrbis has been informed that a US-based supplier has concluded several deals with different Turkish steelmakers, though there is various speculation about the details of the cargos as the seller and buyers want to keep the details confidential. In one of these deals, the price of HMS I/II 80:20
scrap is reportedly at $236/mt CFR, though so far this price level has not been officially confirmed.
On the other hand, according to market sources a supplier in the Baltic region is now giving offers to
Turkey for HMS I/II 80:20
scrap at $237/mt CFR.
Today, October 25, sharp increases have been recorded in the Chinese steel futures market, while Chinese steel producers have raised their semi-finished and finished steel offers to their domestic market significantly. As a result, Chinese semi-finished and finished steel export prices in the global market have been revised upwards. This ongoing upward movement of the global steel market signals that
scrap prices will be higher in new deals.