The Turkish scrap import market has remained quiet after an ex-US HMS I/II 80:20 scrap booking at $401/mt CFR early this week. Meanwhile, an Iskenderun-based steel producer has withdrawn from a tender for scrap, while market sources believe that prices will likely follow a stable trend for a while and that ex-US HMS I/II 80:20 scrap offer prices for Turkey will remain at $400-405/mt CFR. In the meantime, price decreases are expected in the Turkish finished steel market, which will likely cause the profit margins of local steelmakers to contract.
On the other hand, ex-Black Sea A3 scrap offers to Turkey stand at $386/mt CFR and some deals have been concluded at this level by Turkish buyers. However, Russian scrap suppliers have recently withdraw their offers. In addition, Romanian A3 scrap offers for Turkey can be found at $378-388/mt CFR.