With no definite price offers heard from the US, HMS I/II 80:20 scrap prices are reported to be in the range of around $245-250/mt CFR. While ex-Europe scrap prices have been declining, the increased strength of the euro against the dollar has been applying downward pressure on price levels.
Still completely absent in the ex-deep sea scrap markets, the Turkish mills have continued to satisfy their scrap needs with ex-Black Sea A3 bookings, though not very frequently. Following the most recent booking concluded at $240/mt CFR, it is heard that the latest price offers are at around the same level; however, Turkish mills' counter bids are at lower levels.
It is heard that Turkish mills are trying to determine price levels for scrap by considering the current rebar price levels; as a result, their price ideas at present are at around $220/mt CFR. Actual prices have yet to decrease to these levels and this has prevented the Turkish mills from making purchases. However, with there being a possibility of an increase in rebar demand from external markets, it is thought that such an increase could be followed by similar activity in the scrap markets.