New rise in scrap import prices just around the corner in turkey

middle east / Scrap

Turkey sees no new contracts for imported scrap at the end of the week. However, fresh deals are expected to be made soon at higher prices.

Bullish sentiments are prevailing in the Turkish scrap market. Sellers are insisting on higher prices, and most market participants believe that tags will inevitably move up in new deals. In particular, exporters from the US are targeting $290/t CFR for HMS 1&2 (80:20), Metal expert has learnt. Suppliers from Romania are asking $275/t CFR for the same material. “Scrap suppliers are gradually raising offers. Moods are very bullish,” a trading source commented.

With no import scrap contracts confirmed in Turkey, Metal expert’s daily price assessment for HMS 1&2 (80:20) from the US east Coast remained unchanged within $283-285/t CFR on December 6. The price range is likely to move up by $5-7/t soon.