Mining News Pro - Imported scrap prices in Turkey have moved up by USD 5-6/MT W-o-W basis, following a recent deal concluded for US cargo. US scrap supplier sold HMS (80:20) at USD 341/MT, CFR Turkey.
According to Mining News Pro -Imported scrap prices in Turkey have moved up by USD 5-6/MT W-o-W basis, following a recent deal concluded for US cargo. US scrap supplier sold HMS (80:20) at USD 341/MT, CFR Turkey.
After this deal, SteelMint’s price assessment, USA origin HMS (80:20) scrap stands at around USD 341/MT, CFR Turkey. While HMS 1&2 (80:20) from European origin stands at USD 331/MT, CFR almost stable against the last report. Premium for US material over Northern European scrap stands at USD 10/MT.
US scrap export prices are expected to remain strong in Nov-Dec amid seasonality factors.
Turkey scrap trade updates-
1. UK origin HMS scrap (95/5) deal concluded to a Turkish steel mill at USD 342/MT, CFR for prompt cargo
2. Earlier this week, European cargo deal was concluded. 31,000 MT HMS (75:25) was booked at USD 326/MT, CFR and 4,000 MT Bonus booked at USD 341/MT, CFR. The last day for shipment is 05 Dec’18.
Turkish Lira appreciated against USD in a week’s time. Exchange rate USD/TRY stands at 5.51 today as against 5.64 a week ago.
Domestic Rebar prices in Turkey decline - Rebar prices in Turkish domestic market continued to remain under pressure and moved down to TRY 3,300-3,450/MT (ex-works); down by TRY 70-80/MT W-o-W.
Turkish rebar export prices remain firm; less deals reported - Prices heard stable in the range of USD 500/MT, FoB Turkey. Despite higher input cost, overseas demand remained weak.
