Just after the end of the New Year holiday Turkish mills have increased their inquiries for scrap imports, while it is heard that Turkish mills are seeking the same prices which were offered before the holiday.
This week, ex-US HMS I/II 80:20 offers to Turkish mills are standing at $405-410/mt CFR, while market players do not expect ex-US HMS I/II 80:20 offers to Turkey to drop below the $400/mt CFR mark, due to seasonal conditions. However, if the market fails to see the anticipated revival for finished steel products, then significant downward pressure may be effective on scrap prices.
Ex-Russia A3 scrap offers to Turkey have been at $395-400/mt CFR this week, while ex-Romania A3 offers are at $390-395/mt CFR. Although some transactions have been reported for ex-Romania scrap, these reports are unconfirmed. Turkish mills are expected to conclude some further ex-Black Sea scrap bookings before the winter conditions become harsher.