Turkish mills have resumed their scrap bookings this week. Turkish mills have intensified their scrap bookings, also from the US with prices at $380-385/mt CFR for HMS I/II 80:20, as ex-US scrap offer prices have declined to the levels they desire. In the meantime, it is reported today, April 26, that a Turkish mill has concluded the transaction of an ex-Europe HMS I/II 80:20 scrap cargo of 30,000 mt at $366/mt CFR, while ex-Europe scrap offers to Turkey have decreased by $15/mt since last week.
Market sources report that ex-Black Sea A3 scrap offers given to Turkish mills are hovering around $363-365/mt CFR and transactions are being concluded at these levels. In the meantime, the latest ex-Romania A3 scrap offers to Turkey have been at $369/mt CFR.
A downtrend is apparent in the scrap market and this is expected to result in a revival in the finished steel market.
