Import scrap business activity has been quiet in Turkey this week with no deep sea deals reported and only some minor lots traded in the short sea segment. Mills are expected to gradually start purchasing scrap for April shipments next week.
Most Turkish steel producers are not yet in the market for large volumes, while deep sea scrap suppliers aim to avoid going below $270-275/mt CFR for HMS I/II 80:20 versus bids of $265-268/mt CFR, SteelOrbis understands. Next week is expected to be more active
In the short sea segment, some positive sentiments have been reported. Last week, the bids for HMS I/II 80:20 scrap from Romania were at $260/mt CFR, while this week some volumes have been traded at $265/mt CFR, which is in line with the latest deals to the destination. “This is a minor effect, but yet another factor saying that prices will not collapse this time,” a scrap supplier told SteelOrbis.
