Prices for all grades of imported scrap in Turkey hiked by USD 15-20/MT in last one week’s time on fresh booking from Turkish steel mills. Prices crossed USD 335/MT, CFR level for HMS 1&2(80:20)
Imported ferrous scrap prices in Turkey have pushed up further on recent trade deals amid tightened supply. Prices have climbed further by USD 7/MT against reported last at USD 330/MT, CFR.
Current assessment of USA origin HMS 1&2 (80:20) stands at USD 337/MT, CFR Turkey. Last week prices were hovering around USD 323/MT, CFR.
In the latest deal concluded, an Izmir region based steel mill confirmed to have purchased a mixed cargo from a Baltic region seller at an average price of USD 335.5/MT, CFR Turkey for January shipment. Earlier to this, an Iskenderun based buyer concluded deals for HMS 1&2 (80:20) at above USD 330/MT, CFR Turkey.
This week scrap market opened in Turkey with quite high buying interest and inquiries from buyers end. Amid tightened supply of scrap, suppliers are holding off from selling at current levels because they anticipate prices to move up further and prices to remain bullish throughout December month. On the other hand, few buyers remained seeking to get a clear sense of price direction. – shared a market participant.
Turkey Rebar export offers moved up – Rebar export offers from Turkey have increased by USD 5-10 further on W-o-W basis as the prices are lifted from USD 520-530/MT, Fob last week to USD 525-535/MT, Fob Turkey now. Also, domestic rebar prices in Turkey have increased by USD 5/MT to USD 540-550/MT ex-works
Turkey ferrous scrap imports rise by 6% M-o-M in Oct’17 – Turkey imported 2.14 MnT ferrous scrap in Oct’17, the imports increased by 6% M-o-M against 2.01 MnT in Sept’17.While hiked by 74% Y-o-Y against 1.23 MnT ferrous scrap imports in Oct’16. During first ten months period of CY17, Turkey has imported 17.04 MnT of ferrous scrap, up 21% Y-o-Y against 14.13 MnT ferrous scrap imports during the same period of CY16 (Jan-Oct’16).
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