Sharp decline in Turkish import scrap market with ex-US deal

Wednesday, 15 January 2020 21:30:01 (GMT+3)   |   Istanbul
       

After a long period of silence, SteelOrbis has learned that Turkish import scrap market prices declined sharply with a fresh deal booked from the US.

According to market sources, a Turkish mill closed a deal with a US-based supplier, consisting of 35,000 mt of HMS I/II 95:5 at $295/mt CFR for February shipment. This price translates into $288/mt CFR for HMS I/II 80:20.

Ex-US import scrap prices have decreased by $13/mt compared to the previous deal, reported on December 3 by SteelOrbis. SteelOrbis understands that Turkish mills are likely to adopt a wait-and-see stance, as market sources believe import scrap prices may decline further.


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