Turkish iron and steel markets welcomed the return of the Eid holiday quietly. Import scrap prices were flat during the Eid holiday period due to weak steel demand, but they have been on a slight downward trend again this week.
In the past two weeks, several producers have changed their domestic scrap purchase prices. Purchases from the US were slightly increased, while deals with Europe showed decreases. Scrap prices in the US are expected to remain mostly stable in May after a flat April. Some expect a potential increase, especially for the main grades, while others see flat values.
Increased scrap buying interest from mills contrasts with steadily rising plate prices and supports scrap prices despite market uncertainties. In Benelux (Belgium, the Netherlands and Luxembourg), scrap prices eased due to the Turkish holiday and tensions in the Middle East. Prices fell to €300-305/ton ($318-324) from €305-310/t. The Netherlands offered €305/t, Belgium €300/t and France €295/t. Exporters turned to Türkiye due to the downward trend and highlighted shifts in regional scrap dynamics.
Recent contacts made by Turkish steelmakers;
Deals from Europe to the Aegean region;
HMS (80:20) scrap from Finland $382 per tonne CFR Türkiye (May shipment)
Shredded scrap at $399 per tonne CFR Türkiye,
HMS (85:15) scrap from the UK at $380.75 per tonne CFR Türkiye (bonus $400.75/t),
HMS (80:20) scrap at $378 per tonne CFR Türkiye,
Agreements from the US to the Marmara region;
HMS (80:20) scrap from the US, $386 per tonne CFR Türkiye.
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