After Turkish mills' scrap bookings last week, Turkish steel producers have not concluded any ex-deep sea scrap bookings so far this week. Delaying their ex-deep sea scrap bookings, it is reported that Turkish mills are now trying to get by with ex-Black Sea scrap bookings in smaller tonnages.
US domestic scrap prices are following a sideways trend for now, while SteelOrbis has learned that demand for shredded scrap is stronger than demand for other grades. In the Turkish market, ex-US HMS I/II 80:20 offers have remained unchanged as compared to last week at $450-455/mt CFR, while ex-Europe HMS I/II 80:20 is being offered to the Turkish market at $440-445/mt CFR. However, facing low finished steel demand, Turkish steel producers prefer to book smaller scrap cargoes, rather than buying in larger tonnages. Turkish mills' purchase price for ex-Black Sea A3 scrap is at about $435-439/mt CFR.