Imported ferrous scrap prices in Turkey have fallen sharply amid recent trades by steel mills. Prices have come down by around USD 6-7/MT on weekly premises.
Current assessment of US origin HMS (80:20) stands at USD 301-303/MT, CFR Turkey. Last week prices were hovering around USD 310/MT, CFR. Present price assessment for Shredded scrap is around USD 306-308/MT, CFR.
Imported scrap prices have come down in the recent deals that were concluded by Turkish steel mills and uncertainties in the market. Domestic long steel prices in Turkey remained majorly stable this week, however rebar export offers declined by about USD 10/MT W-o-W amid reduced bids from overseas buyers.
Trade-wise:
1. Recent deal reported by Turkish steel maker foe December shipment comprising of 10,000 MT HMS (80:20) at USD 296/MT, CFR; 10,000 MT Shredded at USD 302/MT, CFR; 5,000 MT Bushelling at USD 307/MT and 5,000 MT Bonus at USD 307/MT, CFR Turkey.
2. A leading EAF steel manufacturer in Turkey – ICDAS closed a deal for Europe origin cargo comprising HMS (80:20) at USD 296/MT, CFR; Shredded at USD 302/MT, CFR and Bonus at USD 307/MT, CFR.
3. One of the major steel makers in Turkey – Bastug booked 25,000 MT UK origin HMS (80:20) from SIMS at USD 300/MT, CFR
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