Although the scrap booking from Europe was heard at 369 USD/t in the market, SteelRadar confirmed that the booking was 377 USD/t.
The confusion caused by the fact that a Marmara-based producer accelerated its scrap purchases and that several deals were heard at the same time suggested that the prices in the market were moving downwards.
The latest deepsea imported scrap bookings were heard as follows;
Europe - Marmara based manufacturer;
HMS 80:20 - 377 USD/t
USA - M. based manufacturer
HMS 85:15 - 381 USD/t
Shredded - 399 USD/t
Bonus - 399 USD/t
The short sea booking concluded at;
Romania - M. based manufacturer
HMS 80:20 - 360 USD/t.
Although the steadiness in the market has calmed scrap offers, scrap prices remain upright. Expectations are that it is not very likely for scrap to drop below the 377 USD/t range. The market representatives, who predict that the demand in the region will revive with the acceleration of the projects in the earthquake zone in the Turkish domestic market, that a currency-based increase will occur even if the inflation decreases, and that no decline is expected in the TL-based price, maintain their comments at the beginning of the year and repeat that it is a hopeful picture for the sector in the last quarter of 2023.
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