While Turkish steel producers' import
scrap purchases have been limited in number in August, there is still demand for import
scrap in
Turkey, though Turkish buyers are cautious about concluding new
scrap deals.
At the beginning of last week, Turkish steel mills concluded ex-Baltic and ex-US deals for HMS I/II 80:20
scrap at $229/mt CFR. Another ex-Baltic deal concluded in
Turkey at the beginning of last week for HMS I/II 80:20 was at $224/mt CFR. Also, towards the end of the last week, it was heard that plenty of Baltic-based
scrap suppliers were willing to conclude sales to
Turkey, while their offers for HMS I/II 80:20
scrap were at $228-229/mt CFR.
In the current week, ex-Baltic
scrap offers at $228-229/mt CFR are still applicable, while US-based
scrap suppliers are testing the market with offers slightly above $230/mt CFR. Import
scrap prices are under downward pressure as there are plenty of
scrap suppliers seeking to conclude
scrap sales at present and as Turkish steel producers are maintaining a cautious stance as regards concluding new
scrap transactions after being forced to reduce their domestic and export finished steel quotations. As a result, prices are not expected to move up in new import
scrap deals in
Turkey.