Import scrap prices in Turkey continue to rise

Thursday, 24 January 2019 16:33:11 (GMT+3)   |   Istanbul

As Turkish mills, particularly flat steel producers, continue to show demand for import scrap, prices of import scrap in Turkey have increased further in the most recent transactions. In the most recent deals heard last week, ex-US HMS I/II 80:20 scrap prices were at $283/mt CFR, though they are now at $290-295/mt CFR. At the beginning of the current week, HMS I/II 80:20 scrap prices in an ex-Baltic booking were at $287/mt CFR, while offers for the same grade from the Baltic region to Turkey are now above $295/mt CFR.

As for short sea scrap, Romanian offers to Turkey are at $285-288/mt CFR, while Russian scrap suppliers’ offers have maintained their high levels. SteelOrbis has been informed that a Russian supplier is offering HMS I/II 90:10 scrap to Turkey at $295/mt CFR.

It is observed that Turkish flat steel producers are showing a greater willingness to accept higher scrap offers as their finished steel sales, particularly to Europe, are continuing.

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