Market sources report that ex-
Lebanon HMS I/II 80:20
scrap offers to
Turkey are standing in the range of $340-345/mt CFR, indicating an increase of $5-10/mt over the past month. After the Ramadan holiday, an Iskenderun-based Turkish steelmaker concluded a booking of HMS I/II 80:20
scrap from
Lebanon at the price levels of $355-358/mt CFR. The mill had to pay higher prices as compared to current market levels due to its immediate
scrap needs.
Ex-Mediterranean
scrap booking activity in
Turkey has remained slow after the holiday, while sources indicate further that Turkish mills are focusing on deep sea
scrap deals at the moment. Meanwhile, Mediterranean
scrap suppliers want to revise their prices upwards in line with the increase in deep sea
scrap prices, though weak demand in
Turkey will likely prevent them from being successful.