Turkey’s import scrap prices have indicated a fluctuating trend in the current week by the ex-US deals, while today an ex-Baltic deal from Sweden is disclosed to the market.
In this deal in question, a Marmara based mill has bought HMS I/II 80:20 scrap at $255/mt CFR, shredded scrap at $260/mt CFR and bonus grade scrap at $265/mt CFR, for shipment in the first half of August. Previous to this booking, SteelOrbis’ estimation for ex-Baltic HMS I/II 80:20 scrap was in the range of 256-258/mt CFR Turkey.
Turkey has concluded few deals since the beginning of July for August shipments and most prices in those deals have indicated a slight decrease as compared to the ones made for July shipments. On the other hand, the scrap imports made by Egypt has attracted attention in the market. The decreasing trend in the prime grade deep sea scrap side is not expected to gain pace in the short term. Market sources state that Yemen and Israel may soon become active in Turkish rebar purchases but it is observed that domestic rebar demand is higher than it is in the international markets. Also hot rolled coil (HRC) quotations in Turkey have been falling during the current week due to weak demand.