Türkiye's imported scrap prices started February with an upward trend. HMS 1/280:20 grade deep sea scrap prices rose to $350-355/t CFR Türkiye, while bonus and shredded scrap prices reached $370-375/t CFR Türkiye. For purchases from the US, prices are expected to be around $358-360/t.
At the beginning of last week, imported scrap purchases from Finland and the UK reached $345-349/t CFR Türkiye. In the middle of the week, 18,000t of HMS 1/280:20 grade scrap from the UK was priced at $347/t CFR Türkiye and 5000t of bonus scrap was priced at $367/t CFR Türkiye, while a deal from Lithuania/Baltic region for 27,000t of mixed scrap was priced at $355/t CFR Türkiye. The last deal in the same week closed the week at $355/t CFR Türkiye.
The market is expected to remain volatile in the near term as price movements this week are influenced by the new US tariffs and higher collection costs in Europe.
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