According to market sources, an ex-US scrap cargo has been booked to Turkey, while the price level in question is a bit above the market expectation. An Iskenderun region-based producer has purchased a total of 22,000 mt of scrap with HMS I/II 80:20 priced at $233/mt CFR, shredded at $238/mt CFR and bonus grade at $243/mt CFR. The deal has given some optimism to the market as a lot of players were expecting prices to be at least $1-2/mt lower, SteelOrbis understands. As a result, some cautious upward expectations have started to form in the market. “We need to see the next few deals for scrap, prices might rebound but may as well continue falling as [finished] steel sales are not great at all,” a trader mentioned.