US Scrap offers to Turkey surge by $5/MT CNF

Turkish
mills continued to buy US ferrous scrap last week till late last week. Recently,
the Turkish buyers are active in the international scrap market. 

It's
reported that the Turks have made deals with the US scrap suppliers and the offers
remained at US$ 450-455/ton CNF.

The
demand has increased during last week from the Turkish buyers in order to
stockpile. Meanwhile, they have turned to purchase the scrap from the US
suppliers since the Euro have appreciated against the US dollar sharply.

In
a recent deal, A large-scale Scrap trader in the US has recently made transactions
Turkish buyers for around 100,000-120,000 MT of Scrap with the transaction prices
of US$450-455/ton CNF. The prices are up by US$ 5/MT CNF from previous deals
were being heard closed.

Further,
the Scrap prices in the East America have also surged by US$ 10/MT in line with
the strong demand from Turkey