Turkish steelmakers’ ex-Mediterranean scrap bookings

SteelOrbis has heard from market sources that HMS I/II 80:20 scrap offers from Lebanon to Turkey have softened by $10/mt since last week to $360-365/mt CFR. Meanwhile, ex-Israel HMS I/II 65:35 scrap offers are ranging at $325-330/mt CFR. An ex-Lebanon scrap deal has been concluded in Turkey's Iskenderun region for about 2,200 mt of HMS I/II 80:20 at the price level of $360/mt CFR, while an ex-Israel scrap deal of 3,000 mt HMS I/II 70:20 has been concluded in the same region at $325/mt CFR.
 
Demand in the Iskenderun region for Mediterranean scrap is not that strong, and so a downward price adjustment is expected for the above offers within the coming week. In the meantime, the softening tendency of deep sea scrap prices will also put pressure on Mediterranean scrap prices.