Turkish mills’ scrap inventories remain low

Turkish steel mills are still abstaining from making ex-deep sea scrap bookings, while their very limited ex-deep sea scrap transactions have remained significantly below their consumption volumes over a considerably long period.
 
Although they have been expected for weeks now to start their purchases, Turkish mills are still delaying their ex-deep sea scrap bookings as finished steel markets have remained stagnant and SteelOrbis has learned from market sources that the Turkish mills' scrap inventories are now critically low and that they need to start booking scrap if they intend to maintain their current capacity usage rates.
 
Ex-UK HMS I/II 80:20 scrap is being offered to Turkish mills at $430/mt CFR, while it has been heard that ex-US HMS I/II 80:20 scrap offers to Turkey are at $435/mt CFR.