Turkey’s bulk scrap buying continues to stock sufficient scrap before the holidays of ongoing festive month of Ramadan. Details of two cargoes that have been recently concluded are as follows:
1. In a deal concluded by Bastug (Turkey based steel maker) to scrap recycling company – EMR for a cargo containing HMS (80:20) of 23,500 MT at an average rate of USD 272/MT, 15,000 MT Shredded at an average rate of USD 277/MT and 1,500 MT Bonus at an average rate of USD 282/MT.
2. In another deal that has been concluded by US based Camden Iron to Turkey based ICDAS for a cargo containing HMS (80:20) at an average rate of USD 271/MT, Shredded at USD 276/MT and P&S at USD 281/MT.
Scrap trade likely to remain low in the month of June owing to Ramdan festival and monsoons.
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