European
countries increased their offers to Turkey for ferrous scrap but they are still
confused over the scrap price direction to Turkey. Buying is expected to
increase in the days to come as holidays in Turkey approach next week. HMS
I&II (80:20) scrap was offered at US$ 428/MT i.e. up from US$ 425/MT from
previous quote.
The
current offers for ferrous scrap to Turkey are as follows:
HMS
I&II (80:20): US$ 425-430/MT CFR Iskenderun
Turkey
HMS I&II (70:30): 400-410/MT CFR Turkey
Shredded scrap: US$ 435-445/MT CFR Iskenderun Turkey
“More deals might be
closed in coming days as enquiries for the ferrous scrap is increasing. There
are expectations of buyers coming back in force this week, supported by strong
demand for long products”, said an exporter based in Europe.
Whereas, imported ferrous
scrap prices to India remain unchanged at US$ 440-450/MT CFR Nhava Sheva
Mumbai. Shredded materials were quoted at US$ 440-450/MT CFR Mumbai.
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