Market participants generally maintained their cautious views from last week, while exporters continued to refrain from making aggressive offers. On the other hand, Turkish steel producers showed a stronger appetite for purchases. Although demand for rebar in the domestic Turkish market remained soft, the desire of mills to secure scrap supply for January stood out.
It is reported that scrap availability for January shipments is limited, which supports upward pressure on prices. However, while an upward trend in prices is expected to continue, it is anticipated to occur in a controlled manner. There are views that a strong recovery signal exists for January, but this increase may still remain limited. This cautiously positive sentiment dominating the market encourages both exporters and importers to take positions carefully, while price movements are expected to become clearer in the coming days.
According to the latest scrap deals:
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HMS 1/2 80:20 scrap from the USA to the Mediterranean region at $361/t CFR Türkiye,
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HMS 1/2 80:20 scrap from the UK to the Black Sea region at $354/t, bonus scrap at 374$/t CFR Türkiye,
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HMS 1/2 80:20 scrap from Poland to the Aegean region at $353/t, to the Marmara region at $353/t CFR Türkiye,
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HMS 1/2 80:20 scrap from Europe to the Marmara region at $356/t CFR Türkiye,
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HMS 1/2 80:20 scrap from Belgium to the Mediterranean region at $355/t CFR Türkiye.
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