Turkey: Imported scrap price up in recent trades

Turkish steel mills have actively resumed deep-sea scrap bookings this week. After these deals, Turkish imported scrap prices have increased by $3/t w-o-w.

SteelMint's assessment for USA origin HMS 1&2 (80:20) stands at $288/t CFR Turkey.

Recent bulk scrap bookings concluded in Turkey-

Source: SteelMint

Market highlights-

• Many USA suppliers holding back their offers and even targeting $290/t CFR Turkey levels.
  
  
• According to media reports, a large fire broke out at a ferrous scrap stockpile at global metals recycle SIMS Metal Management's Avonmouth dock in southwest England, affecting up to 20,000 t of scrap.
  
  
• Buyers may book fresh cargoes actively for Nov shipments, anticipating increased finished steel demand.
  
  
• Demand for imported scrap has increased gradually in the last few days, steelmakers considered construction activities would resume, hence, demand for finished steel will increase in the coming days.
  
  
• Currently, 1 dollar is trading equal to 7.94 Turkish Lira largely stable than a week ago.