Expectations in the Turkish scrap market weakened. Scrap prices in Turkey decreased by another $4-5 to $363 per tonne. Demand for rebar in Turkey has stalled both in the local and export markets. The sector is under pressure due to banks closing their loans. As rebar prices continued to decrease, producers' scrap purchases slowed down even more.
This week, 2 sales from Europe to Iskenderun region and 1 to Samsun region were realised. HMS (80:20) scrap connections showed a gradual decrease. Contacts;
Iskenderun
22,000t HMS 1/2 80:20 $ 368
3,000t bonus
Loading mid-August
Done 12/7/2023
Iskenderun
367$ for 80:20
Samsun
Shipment mid/end August ex NL
10,000t Hms $363
10,000t Shr $383
10.000 Bonus 383$
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