Imported scrap prices in Turkey slightly moved down in recent deal concluded this week, after witnessing a fall of around USD 9/MT in the last week.
Imported scrap prices in Turkey have come down further by USD 2/MT in a deal concluded at the opening of the week. However, another deal concluded same day at the stable prices resulted in price assessment of USA origin HMS 1&2(80:20) to remain at USD 344/MT, CFR Turkey. Towards closing of the last week the same was assessed at USD 345/MT, CFR Turkey.
In a trade deal concluded, IDC an Izmir region based importer booked 40,000 MT cargo comprising 15,000 MT of HMS 1&2(80:20) at USD 343/MT, 20,000 MT of Shredded at USD 348/MT and 5,000 MT P&S scrap at USD 353/MT respectively on CFR Port Izmir basis. According to sources, this cargo was sold by Camden, USA based leading scrap supplier.
In another deal concluded same day, Ekinciler an Iskenderun based scrap importer booked HMS (80:20) scrap at USD 345/MT levels. In this deal, Rensselaer USA based supplier sold a cargo comprising 13,000 MT HMS 1&2(80:20) at USD 345/MT, 10,000 MT Shredded at USD 350/MT and 2,000 MT Bonus at USD 355/MT, CFR Turkey.
However, the market remained less active with no further booking confirmed on Tuesday. Many of the buyers and sellers remain waiting for further concludes amid weakened demand for finish products in Turkey. Latest Rebar export offers assessed stable at around USD 345-350/MT, FoB Turkey.
Leave a Reply