Even though buying activities are not that intense, Turkish steel mills have continued their scrap purchases. Meanwhile, it is observed that scrap prices have been trending sideways and that Turkish mills have recently preferred scrap from Europe and the UK instead of from the US.
As for ex-US purchases, suppliers are not willing to move towards Turkish mills' price ideas and are not accepting prices below the level of $365/mt CFR for HMS I/II 80:20, which was the deal level two weeks ago, while Turkish producers' price ideas for HMS I/II 80:20 are lower.
In the meantime, some deals have been heard for HMS I/II 80:20 ex-Europe and ex-UK at $349-350/mt CFR, with prices remaining stable.
On the other hand, ex-Black Sea transaction prices for A3 scrap were standing at $353-357/mt CFR last week. Turning to this week, SteelOrbis has heard that Turkish mills want to conclude deals at lower levels.
Import scrap prices stable in Turkey
Tags:
Scrap Raw Mat US Turkey UK Mediterranean Europe Non-EU Countries North America European Union Middle East Steelmaking