Ferrous
scrap price levels were said to be firm, but with no deals heard done and
pressure admittedly on the downside. European suppliers are willing to offer HMS
I/II (80:20) at $450/MT CFR Turkey. US prices for HMS 80/20 were said to hold
at around the last trades, at about $470/MT CFR Turkey, scrap traders said.
Currently, HMS Scrap prices are lying between US$ 467-468/MT CFR Turkey.
Rebar
offer prices from Turkey corrected by US$ 5-10/MT. Some cargoes were being
heard quoted at US$ 710/MT from 715-720/MT FOB Turkey last week. That kept the
demand for the HMS Scrap in check.
Domestic
scrap assessment fell $5 to $467/MT CFR Turkish ports to reflect a weaker
buying outlook from Turkish mills.
The
A3 scrap assessment fell by $3 to $435/MT FOB Black Sea on a likely increase in
material available should export demand fall and capacity be cut at regional
mills. European scrap prices held at $417.50 FOB Rotterdam.
According
to a supplier based in US “scrap is in a delicate balance, the sentiment
in billet and rebar would indicate prices of the raw material are under
pressure to lower and ensure the metal spread is maintained in Turkey.”
“Scrap
prices are still firm. Scrap purchasers will look for the prices to correct
further to $440/MT CFR to maintain margins,” said a Billet trader based in
Turkey.
At the other end, Georgia's ferrous scrap exports
to Turkey, the country's main trading partner, has fallen 5.03% in quantity
terms to 203,667 metric tons, according to the data provided by the National
Statistics Office of Georgia.
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