Turkish imported scrap prices continued to climb as further in a recent deal concluded. According to data collected by SteelMint, nearly eight bulk scrap cargo bookings have been noticed in last one week. Buyers aggressively booked bulk scrap cargoes from various origins Jan’21 shipments.
SteelMint’s assessment for USA origin HMS 1&2 (80:20) stands at $350/t CFR Turkey, up by $15/t w-o-w. Prices are hovering close to 2.5 years high as similar levels were last seen in Apr’18.
Recent Turkish Deals-
Source: SteelMint
Market highlights –
- Turkish mill sales have been good and scrap supply is slowing down with Turkey still seeking many cargoes. Hardly any bulk offers from US origin were heard
- Turkish steelmakers resumed deep-sea scrap purchases despite higher prices due to rising demand for finished steel and consider that it’s better to replenish their scrap inventory before the winter holidays
- Turkish Lira depreciated this week. Currently, the Lira trading at TRY 7.89 against $1, in contrast with TRY 7.57 last week
- Turkish domestic rebar and billet prices have increased as sales support market strength and mills are now mostly focused on both the markets, as prices of those products kept improving
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