After returning to the scrap market in the middle of last week with deep-sea scrap bookings, Turkish mills continued their purchases until the end of the week. These transactions can be viewed in SteelOrbis price reports section.
In these transactions, Turkish mills' purchase price for ex-US HMS I/II 80:20 stood at $470-474/mt CFR, while the price of ex-Europe HMS I/II 80:20 was at $452/mt CFR.
While no new transaction has been heard so far this week, it is reported that a few ex-Europe scrap suppliers are active in the market. As a result of the weakening of the euro against the US dollar, scrap suppliers have readjusted their prices. Thus, the price of ex-Europe HMS I/II 70:30, which was at $444/mt CFR Turkey in last week's transactions, has now regressed to $439/mt CFR Turkey in this week's offers. In the meantime, ex-Europe HMS I/II 80:20 offers to Turkey are standing at $455-460/mt CFR.
Turkish steel producers, who prefer to see a revival in finished steel sales first, are not currently rushing to conclude new scrap bookings.