Turkey scrap market is dull before national holiday at the end of August 30. Turkish mill's already have credited the scrap for September delivery.
Currently, US HMS 1&2 (80:20) is still available at USD 376-378/MT CFR Turkey, followed by shredded scrap at USD 385-387/MT CFR. While no contract have been concluded over a past week.
Similarly, the European prices for HMS 1&2 (80:20) is quoted at USD 372-375/MT CFR Turkey and HMS 1&2 (70:30) at USD 355-365/MT CFR Turkey but the European supplier are not delivering timely.
The India imported scrap market is quiet due to continuous weak rupee against dollar. On the other side, the domestic scrap market is getting momentum upto 2,400/ MT W-o-W.
Kandla based trader said that,” the India imported scrap market is totally quiet, if the domestic scrap market will be stable at 24,000/MT then we will thinking to import scrap HMS 1&2 at USD 340/MT CFR Mumbai.”
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