Turkey imported ferrous scrap market remained quiet this week. No significant trade activities were observed throughout the week.
The reference price index for USA origin HMS 1&2 (80:20) stood at USD 355 /MT CFR Turkey unchanged W-o-W.
Though sellers were expecting few bookings before the holidays, but buyers resisted to accept the offers at such high level and started negotiating with sellers in this week.
Turkish market will remain almost close for this week owing to the holidays for festival ‘Eid-al-Adha’ and ‘National victory day’ amid which no trade activity is expected.
“Market is slow. Everyone is waiting for the Turkey to come back from the holidays to get clear picture of the market and seek direction.”-a market participant shared with SteelMint.
Turkish domestic scrap prices have remained stable this week.
Last bulk cargoes trades have taken place at USD 353-354/MT, CFR Turkey in the last week, after which no trade deals have taken place so far in this week in Turkey.
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