Following the lively week in terms of transactions during the period of September 13-17, Turkey’s import scrap market made a quiet start to this week and short sea side is no different.
HMS I/II 80:20 scrap prices from Romania and Adriatic have remained stable in the range of $412-420/mt CFR Turkey. SteelOrbis understands that buyers are willing to pay higher prices for clean and higher grades in the short sea cargoes. The shortage of ships continues, it is still hard to find desired vehicles as freight remains on the high side. SteelOrbis has learned that demand received from Turkish mills are in line with their immediate needs.
As the market waits for US FED’s and Turkish Central Bank’s consecutive announcements to be made today and tomorrow (Sept. 22-23) respectively, no rush for scrap purchases is expected this week. Market sources state that uncertainties regarding the financial markets are leading players to maintain a cautious stance.
