According to market sources, Lebanese offers to
Turkey for HMS I/II 80:20
scrap have softened by $10-20/mt over the past two weeks to $235-240/mt CFR.
On the other hand, HMS I/II 70:30
scrap prices in the local Israeli market are at ILS 800/mt ($211/mt), while HMS I grade
scrap prices in the local market are at ILS 850/mt ($224/mt), both delivered to customer. Also, Israeli offers to the export markets for HMS I/II 75:25 grade
scrap are at $235/mt CFR, while offers for HMS I/II 65:35 grade
scrap are at $225/mt CFR.
Demand in
Turkey's Iskenderun region, where most Turkish purchases of Lebanese and Israeli
scrap are concluded, has been quite weak during the past week. Most Turkish producers have concluded deals for Chinese billet for use in their production and so are not interested in
scrap offers. Market sources state that the
scrap prices in question may soften in the coming week, while steel producers in the Iskenderun region may focus on Lebanese and Israeli
scrap in order to meet their immediate
scrap needs.
$1 = ILS 3.79