Import scrap offer prices in Turkey start to move up

Wednesday, 04 October 2017 16:22:21 (GMT+3)   |   Istanbul
       

Having received weak demand from Turkey for a long time now, most foreign scrap suppliers have increased their price expectations as of yesterday, October 3, with most of them having retracted their scrap offers for Turkey and deciding to maintain a wait-and-see stance. As the volume of import scrap offers for Turkey has declined, it is observed that some suppliers have increased their scrap offer prices for Turkey. Having concluded ex-Europe deals for HMS I/II 80:20 scrap at $290/mt CFR last week, Turkish steel mills are currently experiencing difficulties in finding new offers for the same grade at $290/mt CFR, though their initial target price for import scrap this week was at $280/mt CFR.


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