Turkish mills keep close eye on deep sea scrap before concluding deals from Lebanon

Market sources indicate that ex-Lebanon scrap offers to Turkey for HMS I/II 80:20 are now ranging at $330-340/mt CFR, indicating a decline of $15/mt since last week. The latest ex-Lebanon scrap deal in Turkey's Iskenderun region was at $335/mt CFR, while it is reported that there are offers in the market at $330/mt CFR for ex-Lebanon ready stock scrap. As steelmakers in the Iskenderun region prefer to keep a close eye on the deep sea scrap price trend and maintain a cautious stance, scrap purchasing activity in the region is stagnant for the moment.