Imported scrap prices to Turkey fell further towards the end of this week in recent deals, after witnessing fall of around USD 6/MT towards the starting of the week.
Imported scrap prices have come down further in recent deals concluded in Turkey. Most of the participants were anticipating for further downward movement in the prices for March shipments. However, the market was little uncertain with both buyers and sellers holding the fresh bookings in the middle of the week.
As per latest reports, the price assessment of USA origin HMS 1&2(80:20) scrap moved down to USD 345/MT, CFR Turkey which was assessed on Tuesday at USD 348/MT, CFR while at around USD 354/MT in last week.
SIMS one of the leading scrap supplier from USA recently concluded two deals at further corrected prices for March shipment cargoes.
In a deal, IDC an Izmir region based importer booked HMS 1&2 (80:20) at USD 345/MT, CFR Port Izmir while the same supplier sold another cargo to ICDAS, a major importer based in Marmara region comprising HMS 1&2 (80:20) at USD 345/MT, CFR Marmara for March end shipment.
HABAS a major steel mill based in Izmir region booked remaining end Feb’18 shipment. In this trade deal, SIMS from UK sold HMS 1&2 (80:20) at an average price of USD 340/MT, CFR Izmir.
Sellers were looking for high prices amid increased scrap collection rates and tightened supply for Shredded scrap, however, buyers kept resisting to book materials at high prices – shared a source
Turkey rebar export offers fell further amid weak demand – Demand for finish product has come down in Turkey over declining imported scrap prices. Following which rebar export offers fell down to USD 540-550/MT, FoB Turkey. While domestic Rebar prices moved down to USD 550-565/MT, Ex-works as against USD 570-580/MT last week in Turkey.
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