Breaking the silence for past two weeks, imported scrap market in Turkey has observed thin trades this week.
On weekly basis, US origin HMS (80:20) prices are assessed at USD 368-369/MT, CFR Turkey, down by USD 5-6/MT W-o-W.
As per reports, a European cargo was booked recently by Turkish steel mills. The cargo comprised of 5,000 MT HMS (75:25), 20,000 MT Shredded scrap and 5,000 MT Bonus scrap. The average price of the deal was assessed around USD 375/MT, CFR for April shipment.
Few trade sources said that they have still not purchased enough material for April shipment. So in near term the mills might book scrap to fulfill their requirement which may lead to increase in imported scrap prices.
Steel mills in Turkey turned silent in terms of imported scrap purchases in last couple of weeks to get a clear direction from US imposition of tariffs on steel import.
Turkeys’ rebar export offers decline further – Rebar trade activities in Turkey remained limited this week as participants kept eyeing for stability in offers after sharp decline in Chinese steel prices observed last week. Turkey rebar export offers have decreased by USD 10-15/MT on W-o-W basis to USD 570/MT, FoB Turkey.
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