Imported Scrap offers from Europe looks attractive for Turkey

Turkish mills continue
purchasing the scrap from Europe, due to the cheaper rate from Europe. The
scrap offers are more attractive than that from US.

Recently, Turkish mills
imported 5,000 MT of HMS 1&2 (80:20), 10,000 MT of shredded scrap with the
price at US$ 465/MT CFR and US$ 470/MT CFR respectively.

Whereas, offer price for HMS
1&2 (80:20) from US to Turkey was quoted at US$470/MT CFR.

U.S.
East and Gulf Coast ferrous scrap exporters are not willing to cut down their
prices even as Turkish buyers reported HMS Scrap prices from European shippers
fell by 9-10%.