Mood weakens further in Turkey’s import scrap market

Wednesday, 04 September 2019 17:38:39 (GMT+3)   |   Istanbul
       

Following the sharp price drop in import scrap deals concluded in Turkey from the EU and the US, disclosed to the market yesterday, September 4, new sales are actively being discussed in the market at slightly lower levels.

Two scrap sales - from the US and the Baltic region - are being reported in the market, though neither of them have been fully confirmed by the time of publication. According to the reports, an Izmir region-based mill has booked an ex-US cargo consisting of HMS I/II 80:20 at $256/mt CFR, shredded at $262/mt CFR and bonus grade at $266/mt CFR. Previous deals for HMS I/II 80:20 scrap from the US were settled at $258/mt CFR. In addition, sources say a deal to the same region has been closed for a total of 20,000 mt of HMS I/II 80:20 and bonus grade from the Baltic region, where HMS I/II 80:20 is reportedly priced at $258/mt CFR. However, some say that the deal, if true, might be an old one, SteelOrbis understands.

Weaker sentiments in the import scrap market in Turkey weigh on the situation in the billet and finished steel segments, sources say. Some market players expect that scrap prices may fall further in new sales. 

 


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