SteelOrbis has heard that this week’s offers for HMS I/II 80:20 scrap from Mediterranean suppliers to Turkey stand in the range of $340-345/mt CFR. The latest ex-Lebanon HMS I/II 80:20 scrap deal was concluded in Turkey’s Iskenderun region at $320/mt CFR in previous weeks, while ex-Israel HMS I/II 80:20 scrap offers have found buyers this week at the $340/mt CFR mark.
Turkish steelmakers have turned to their attention to Mediterranean scrap offers in order to conclude deals in line with their needs since US scrap suppliers have withdrawn their offers since late February and as Black Sea and European scrap offers have maintained their strength. However, Mediterranean scrap suppliers are expected to follow suppliers in the US and in Europe as regards price trends and are seeking to raise their offers.