After the official holiday in Turkey yesterday, August 30, Turkey’s import scrap market has made a quiet start to the current week.
SteelOrbis has learned that an ex-Europe cargo was bought by an Iskenderun-based mill at the end of last week, with HMS I/II 80:20 scrap priced at $442/mt CFR. No further details have been disclosed about the booking. The previous ex-EU HMS I/II 80:20 scrap was bought in Turkey at $443/mt CFR.
As of today, there are no buyers or sellers in the market, SteelOrbis understands. Sellers are not aggressive in terms of pricing and there are no cargoes left for September shipments. Also, buyers are not actively seeking deep sea cargoes. While the mood in the market remains pessimistic amid the decreases observed in the rebar segment, some sellers state that there is no oversupply on the scrap side. Nevertheless, Turkish buyers are still looking for lower quotations than are currently being offered to Turkey. Also, US domestic scrap prices for the September-buy-cycle are expected to move down in the coming period. SteelOrbis has already reported that peddler prices have been decreased in the US in order to slow the flow to yards.