Market sources indicate that ex-Lebanon HMS I/II 80:20 scrap offers to Turkey are now ranging at $355-365/mt CFR, indicating an increase of $10/mt as compared to two weeks ago. Since steelmakers have stepped up their scrap purchases, many ex-Lebanon scrap deals have been concluded at these levels in the Iskenderun region, where demand is on the strong side.
The previous strong trend of deep sea scrap prices has dragged ex-Lebanon scrap offers up. However, the current sideways or slightly downward trend of deep sea scrap quotations will likely keep Lebanese offers at a stable level in the coming week.