Turkish mills currently have opportunities to meet with scrap suppliers thanks to the BIR (Bureau of International Recycling) conference that started early this week in Istanbul. With many major scrap suppliers in Istanbul, the number of offers in the market has increased. In an effort to take advantage of this situation, Turkish mills have started scrap bookings again after having abstained for a long time from purchases. In the last transactions heard, ex-UK HMS I/II 80:20 scrap has been transacted at $340/mt, ex-US HMS I/II 80:20 has been at $350/mt and ex-Europe HMS I/II 70:30 has been transacted at $330/mt. On the Black Sea side, with the latest transactions heard at $340/mt, the Turkish mills' purchase price idea is reported to have dropped to levels of $330/mt.
Turkish mills currently have opportunities since at present there is no lack of scrap availability and also scrap suppliers want to conclude sales due to the demand stagnancy in the international markets. Sales negotiations are observed to be continuing in the market, while it is expected that transactions will increase after the conference.