Import activity has accelerated in the Turkish scrap market with the arrival of the New Year, with mills seeking to purchase for their January stocks. The latest import transaction prices for HMS I/II 80:20 scrap have been in the range of $395-405/mt CFR. Most Turkish steelmakers have had to reduce their production levels due to higher raw material costs. Meanwhile, no ex-US HMS I/II 80:20 scrap deal has been heard in Turkey for some time now, while, with the support of strong US domestic prices, ex-US scrap offers will likely move upward during the current month.
In the meantime, political tensions in Turkey have prevented the local market from gaining stability, while the further appreciation of the US dollar against the Turkish lira has also caused Turkish buyers to remain cautious, though new import scrap deals will likely to be completed in Turkey in the current week. On the other hand, there is some activity in terms of short sea scrap transactions in Turkey, though it is not so lively. An ex-Romania A3 scrap deal has been concluded in Turkey at levels of $383-384/mt CFR, while an ex-Russia A3 scrap booking has been concluded at $390-391/mt CFR.
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