In the Turkish market, where demand for imported scrap has been very slack for a long time now, domestic steel producers have stepped up their inquiries slightly this week although they still lack the appetite for new scrap bookings. Despite the rumors that Turkish steel mills will decrease their capacity utilization rates a little further in the coming period, producers’ need for imported scrap has increased significantly as they have not concluded any deals for a long time.
Meanwhile, there are market rumors that a Turkish producer concluded a scrap deal last week, but has preferred to keep it confidential. According to the rumors, the producer concluded an ex-Denmark scrap deal for a cargo at an average price level of $310/mt CFR. This week, no short sea or deep sea scrap has been offered to the Turkish market below $300/mt CFR yet, while Turkish mills’ price expectations are at $275/mt CFR for short sea scrap and at $280-290/mt CFR for deep sea scrap, depending on the region. Still, Turkish mills are likely to conclude some scrap deals late this week.