As of last week, US export prices for HMS 80:20 scrap have been hovering around $370 and European prices around $365-368.
In recent days, some major scrap dealers said that prices have been flat outside Cleveland and Pittsburgh. Turkish producers are willing to buy shredded scrap at $10 lower prices. The Chicago and Detroit markets have lowered scrap prices by around $15. Demand in other regions, especially in the South, has been good recently.
The market expects the flow of recyclables to remain unchanged until the end of winter.
The Indian ferrous scrap market is expected to fall by $10/mt, while China's stabilization could lead to a slight increase in the market. This is said to have little impact on the Turkish ferrous scrap market.
Meanwhile, shredded scrap prices are expected to be around $380-$385.
According to new contacts heard today, offers and sales were made from Europe to the Aegean region around $366, to the Marmara region around $368 and from the US to the Marmara region around $370. While everyone from producers to traders are following the course of the market, it is a matter of curiosity whether the price balance will move in a downward or upward direction.
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