Market sources indicate that ex-Lebanon HMS I/II 80:20 scrap offers to Turkey are ranging at $355-365/mt CFR, indicating no changes as compared to two weeks ago. The overall slack import scrap purchasing activity of Turkish steelmakers has also impacted Lebanese scrap offers negatively.
Meanwhile, many ex-Lebanon scrap deals have been concluded in the Iskenderun region in the past weeks, while Lebanese scrap offers to Turkey are expected to remain stable this week and, if new bookings are concluded in the coming days, the transaction levels will likely soften by $5-10/mt.