The recent deals have confirmed the ferrous
scrap market in Turkey remains at stable note from last week. Few Deep Sea
cargoes were being heard sold to the country.
A manufacturer has closed a deal from a US
East Coast supplier at $375/MT CFR Turkey for HMS 1&2 (80:20) grade and $380/MT
CFR Turkey for shredded.
Meanwhile, another mill has bought around
40,000 MT of mixed Heavy Melting Scrap with an average price of $382/MT CFR.
Scrap exporters are not much sure about the
future outlook of the Turkish market and kept the offers stable.
According to the market sources, “Scrap market
will largely follow the Re bar market in Turkey and dependent on the sales of
the material (Re bar) in the coming months.”
“Prices for ferrous scrap are falling in West
European regions. So, Turkish buyers could wait to get the material at
discounted offers and then they might return to the market”, a major scrap
trader based in Europe said.
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