Turkish mills continue to lower ship scrap purchase prices

As of today, May 9, some Turkish mills have further reduced their ship scrap procurement prices by $5-12/mt, while two of them have kept their quotations stable. As a result, the general range of Turkish steelmakers’ ship scrap procurement prices has remained stable at $495-563/mt, but it can be observed that the downward pressure on quotations is strong in the absence of any deep sea deals. The sentiment in Turkey’s scrap market is negative, leading ship scrap sellers to accept lower levels from mills. Also, slow finished steel demand is causing mills to maintain a cautious stance in terms of raw material purchases.

In Turkey's Izmir region, the ship scrap purchase prices of local steelmakers are as follows:

All the above prices are for delivery to mill by truck.