Turkish steel producer achieves lower price for ex-EU scrap

Thursday, 22 August 2019 15:23:21 (GMT+3)   |   Istanbul
       

A Turkish integrated steel producer has recently closed a deal for an ex-Netherlands cargo of steel scrap, consisting of 16,000 mt of HMS I/II 80:20 at $275/mt CFR Turkey and 4,000 mt of bonus grade scrap at $285/mt CFR. With this sale, the European HMS I/II 80:20 price has decreased by $5/mt compared to the previously reported transactions from the UK and Belgium. Sources believe the prices may decline further in deals, but may not fall far below $270/mt CFR for the scrap grade in question. The market is waiting for a move from US-based scrap suppliers, who have not yet joined the downward movement in sales prices, SteelOrbis understands.


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