Turkish imported scrap prices have dropped to their lowest level in nearly 10 months, with a recent deal for the US. A steel mill in West Marmara has purchased a bulk cargo of US HMS (80:20) scrap at about $360/t CFR Turkiye. This is close to the Oct’23 low of $361/t CFR. The drop is due to buy-side pressure resulting from availability of cheaper Chinese and Russian billets compared to scrap.
Leave a Reply