US ferrous scrap
offer prices to Turkey decline further by $3-5/MT CFR this week. Couple of
deals was being heard closed at lower prices.
Last week offers
for HMS 1&2 (80:20) were hovering at $375-378/MT CFR. In recent deals, same
grade was sold at $370-372/MT CFR levels. Though, quantity was not disclosed.
Black Sea offers to Turkey fall again to $365-370/MT
CFR
Ferrous scrap offers from Short Sea (Black
sea) region remain stable this week for Turkish mills. Late last week, a sharp
decline was seen in short-sea cargoes.
A 7,000 MT HMS 1 scrap sold at $364-365/MT
CFR Turkey this week, down by $5-10/MT CFR from last week. However, another
deal was closed at even lower price at $363/MT CFR for around 10,000 MT of the
same grade (Romania origin).
The rumors were spreading over the market
that prices are hovering at $350-360/MT CFR, but recent deals have proved it
false. Exporters are considering the deals only at $365-370/MT CFR level.
Leave a Reply