Difficulties with steel product sales keep import scrap demand thin in Turkey
World Steel News 23.6.2014
The Turkish steel scrap market has experienced no changes at the start of the fourth week of June. Prices are stable and mills are slow to make purchases because of difficulties with finished product sales.
Order collection is the major task for Turkish companies now, without which there is no need in signing import scrap contracts. “They [mills] should find a buyer for their products first. I hope we will see at least some pick-up in steel sales, which will pave the way for scrap contracts,” a market participant told Metal Expert.
Since the end of May, both domestic and export prices for Turkish rebar have decreased more sharply than quotes for import scrap, which also drives demand down. “Today the key factor is steel product prices, which have to be followed by those of scrap,” the source adds.
Nominal prices for US-origin HMS 1&2 (80:20) stand at $370/t CFR Turkey.
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