European scrap booked in Turkish market
Turkey / Scrap
The Turkey’s steel scrap market sees occasional deals. One of European suppliers managed to find a customer due
to discounts given.
At the start of Ramadan a Belgian exporter has reportedly sold 30,000 t of HMS 1&2 (75:25) as well as 8,500 t of HMS 1
and 6,500 t of New cuttings at $362/t CFR Turkey. A trader closed a previous sale of the same lot at $365/t CFR.
Other mills are focused on finished product sales and do not buy the material. In particular, Iskenderun-based companies
are trying to redirect volumes initially destined to Iraq to the domestic market as well as to countries of the MENA region.
Most scrap collectors are holding prices, which does not encourage Turkish importers to book. “It is a just another
almost silent day. I guess all the week will be like that,” a trader commented to Metal Expert.
Offers of US-origin HMS 1&2 (80:20) have remained nominal at $371/t CFR Turkey.