Turkey’s ex-Lebanon scrap purchases slow down as predicted

Market sources indicate that ex-Lebanon scrap offers to Turkey for HMS I/II 80:20 are now ranging at $345-350/mt CFR, indicating a decline of $10/mt since last week. Due to the weakening demand in the Iskenderun region for ex-Lebanon scrap, suppliers have had to reduce their prices. Purchases of Lebanese scrap in Turkey have slowed down significantly as predicted.