US scrap prices for Turkey move down in fresh deal

Wednesday, 07 August 2019 13:36:13 (GMT+3)   |   Istanbul
       

After a long absence, Turkish booking actilvity for US scrap has recommenced. A Turkish steel manufacturer has bought an ex-US cargo consisting of 20,000 mt of HMS I/II 90:10 scrap and 20,000 mt of shredded scrap at the average price level of $294/mt CFR, for prompt shipment. This deal does not include HMS I/II 80:20 scrap, but the price of this grade based on this latest deal would be estimated at $290/mt CFR, SteelOrbis believes. Thus, compared to previous deal concluded on July 26, the HMS I/II 80:20 scrap price has recorded a $4/mt fall. According to market sources, more deals from the US are expected to be concluded this week and prices may continue to move down as Turkish mills are still targeting lower levels.


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