Turkish buyers consider ex-US scrap prices have not hit bottom yet
Wednesday, 15 May 2013 18:01:28 (GMT+3)
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Istanbul
This week two HMS I/II 80:20 scrap deals have been concluded in Turkey at price levels of $364-365/mt CFR from the US and the Baltic region, reflecting the ongoing downtrend of Turkey's import scrap prices. Local market sources think that ex-US scrap prices have not seen the bottom yet, and, as USscrap sellers are focusing on sales at the moment in an environment of strong availability, Turkish buyers consider that ex-US scrap prices for Turkey will most likely decline to the level of $360/mt CFR in the near term.
On the other hand, ex-Black Sea A3 scrap offers to Turkey are ranging at $355-360/mt CFR and Turkish buyers are expected to conclude deals at these levels in the coming days.
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