Prices for
US export
scrap to
Turkey seem to have remained level since our last report two weeks ago, with only minor, $1/mt CFR increases seen from previous transactions. Last week, Turkish mills concluded two ex-
US deals for HMS I/II 80:20
scrap at $372/mt CFR and shredded
scrap at $377/mt CFR, while a booking of bonus grade
scrap was concluded at $382/mt CFR.
“The market seems to be in balance,” according to SteelOrbis sources, who say the
US domestic market has trended at sideways to up $10/lt for July buys.
Scrap flow into
US yards is good, they say, and it doesn’t seem as if mills will need to turn to exporters to fill extra need. “I never like to talk the market as being sideways,” according to another source, “because there’s always something that can happen that shakes things up, but for now, things seem to look stable through August.”