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.
Low demand for Mediterranean scrap in Turkey
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