Even though buying activities are not that intense, Turkish steel mills have continued their
scrap purchases. Meanwhile, it is observed that
scrap prices have been trending sideways and that Turkish mills have recently preferred
scrap from
Europe and the
UK instead of from the
US.
As for ex-
US purchases, suppliers are not willing to move towards Turkish mills' price ideas and are not accepting prices below the level of $365/mt CFR for HMS I/II 80:20, which was the deal level two weeks ago, while Turkish producers' price ideas for HMS I/II 80:20 are lower.
In the meantime, some deals have been heard for HMS I/II 80:20 ex-
Europe and ex-
UK at $349-350/mt CFR, with prices remaining stable.
On the other hand, ex-Black Sea transaction prices for A3
scrap were standing at $353-357/mt CFR last week. Turning to this week, SteelOrbis has heard that Turkish mills want to conclude deals at lower levels.