Another contract fixing much lower scrap prices has been signed in Turkey – following conclusion of the contract with
his Belgian peer, one Baltic supplier has showed flexibility to attract buyers.
Buying is still lacklustre in the Turkish scrap market. Only one new scrap deal has been signed early this week, Metal
Expert hears. However, that deal has only proved that the sale of Belgian material was not accidental or exceptional,
and suppliers indeed have no other options but to slash prices to sign deals now. “Turkish steelmakers keep dictating
their terms,” one market player told Metal Expert. Specifically, a Russian exporter from St. Petersburg has agreed
to ship 22,000 t of HMS 1&2 (80:20) and 3,000 t of P&S at $304.5/t CFR Izmir. The buyer has paid $303/t CFR for
HMS 1&2 (80:20) under this deal, Metal Expert estimates. As reported earlier, the most recent contract on this route
was signed at $323/t CFR.
Nominal prices for US HMS 1&2 (80:20) are still hovering at $305-315/t CFR Turkey now.
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