Turkey: Imported Scrap Market Remains Dull On Weak Finish Steel Sales
SteelMint learned from industry participants that Turkish imported scrap market has maintained silence so far this week with no fresh deal being reported in the market. Standoff situation between steelmakers and supplier yards extended further as a few steelmakers postponed their remaining August shipment bookings temporarily.
SteelMint’s assessment of US-origin HMS 1&2 (80:20) scrap inched down to USD 292-293/MT, CFR Turkey amid no major deal concluded against the last week report. While assessment of European origin HMS 1&2 (80:20) stands at USD 286-287/MT, CFR Turkey.
Availability of scrap remains tight in Europe and UK keeping suppliers away from offering at low levels. As per sources, most of the industry participants were keeping a close eye on the take-up of EU import quota for Turkey-origin rebar. Turkey’s rebar export offers remained mostly stable in the range USD 450-460/MT, FoB Turkey.
Imported scrap offers to South Asia under pressure on weakened demand - Recent offers of Shredded scrap reported at around USD 320-322/MT, CFR Chittagong, on the other hand, on weak demand Dubai origin HMS 1 scrap offers reported at below USD 310/MT, CFR Chittagong while USD 285-290/MT, CFR Qasim, down USD 5/MT from the last week.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Russia takes aim at US nuclear power by throttling uranium
Families gather at South African mine shaft where hundreds are feared stuck underground
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
Mexico’s proposed higher mining royalties could block nearly $7bn in investments
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project