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
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