The Turkish imported scrap market has fallen this year from $390 in the summer to $360 by the end of August. Strong stimulus signals from China at the end of September briefly lifted prices, but then oversupply in the export market to Türkiye caused Turkish mills to reduce their purchase offers to a two-year low of $335 in early December.
In the first week of December, Turkish imported HMS 1&2 80:20 scrap prices were at $333-336 for European purchases and $348 for US purchases. In the second week of the month, prices increased slightly to average $340-349 per dollar. In the last two weeks of the year, purchases decreased due to the year-end holidays and prices remained flat to close the year at $341-345 on average. Purchases of mill scrap and bonus scrap were at $365.50 in the first week of the month, gradually declining to a low of $349. At the end of the year, it rose slightly to above $360 again.
While the prospects for the current imported scrap market remain uncertain, most market participants reported that the Turkish imported scrap market will continue to face challenges in the first quarter but hopes for a recovery in the second quarter are still alive.
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