There was almost no demand in the European scrap market this week. Market representatives expect scrap prices to fall further next week. Beyond the classic slowdown typical of the summer season, a deep stagnation prevails across Europe. The contraction in the construction, textile, tourism, and steel sectors in particular is negatively affecting overall economic activity.
European scrap is being offered at $337-340/ton CFR levels. European suppliers are also reluctant to sell, with most market players either on vacation or opting to remain cautious.
🔹 Limited Number of Transactions in Türkiye
Demand for US-origin scrap in Türkiye remained weak. Only a few transactions took place, with prices forming at $345-347/ton CFR levels. The low demand for finished products from steel producers is also limiting import appetite.
📌 Some Deals Completed This Week:
A shipment originating from Finland was sold to the Marmara region at $343/ton CFR.
A shipment originating from the US was completed for HMS 80:20 at $347/ton and for shredded and bonus quality scrap at $367/ton CFR to the Mediterranean region.
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