While a lot of deals were heard last week in the import scrap market in Turkey, it is reported that in addition a lot other import scrap transactions of which many particulars were not disclosed were also concluded in the same period. Following this busy activity, Turkish steel mills’ demand for imported scrap has been quiet in the current week. In the deals reported last week by SteelOrbis, deep sea HMS I/II 80:20 scrap was priced at $291-298/mt CFR. In the other deals of which all details were not fully disclosed, deep sea HMS I/II 80:20 scrap was sold at $296-298/mt CFR. Accordingly, import scrap transaction prices in Turkey last week did not reach as high as $300/mt CFR.
SteelOrbis has been informed that, in contrast with the quiet demand from Turkish steel producers this week, there are many scrap suppliers in the market with offers and who are ready to sell HMS I/II 80:20 scrap at $296/mt CFR - the same level recorded last week. Import scrap prices in Turkey are under pressure this week due to the slower demand. Additionally, having concluded sales to Turkey at $288/mt CFR Marmara last week, Russian scrap suppliers are finding it difficult to push sales to the Turkish market despite reducing their offers to $285/mt CFR in the current week.