Market sources confirm that a Turkish steel producer in Iskenderun region has concluded an ex-US deal for 32,000 mt of HMS I/II 80:20 scrap at $252/mt CFR and for 8,000 mt of shredded scrap at $257/mt CFR.
Since no ex-US scrap deals have been heard in Turkey since mid-May, this very low-priced deal has caused astonishment among market players. The ex-US deal in question is $7/mt below the ex-St. Petersburg scrap deal in Turkey, which was concluded early this week and which pulled down the price levels in the import scrap market in Turkey. As a result, it is thought that import scrap prices may continue to see sharp declines in the coming period.