Turkish buyers seek lower ex-Lebanon scrap prices

According to market sources, ex-Lebanon offers for HMS I/II 80:20 scrap to Turkey have this week been at $230/mt CFR. While no new transactions have been heard at this price level, market sources state that buyers in Turkey's Iskenderun region are looking for attractive reductions from Lebanese scrap suppliers. After the sharp declines seen in deep sea scrap prices, Turkish producers' counter-offers for ex-Lebanon scrap are now at $200/mt CFR, while Lebanese suppliers are unwilling to reduce their prices to this level.