In the Turkish scrap market, buying activity remained limited, while new expectations of price declines caused concern among suppliers. Deals announced from the third day of the week generally settled at lower levels, negatively affecting market sentiment.
Factory offers
Turkish mills are offering scrap around $330/t. Short sea sales reportedly traded at $325–327/t CFR, with buyers possibly bidding as low as $320/t.
HMS 80:20 scrap from the Netherlands reportedly sold to a producer in the Aegean region at around $327/t CFR. Market sources note that one reason for the lower level of this sale was the resale of a previously canceled contract due to quality issues.
Polish-origin HMS 80:20 scrap sold to a Marmara-based producer at $337/t, while a small tonnage of the same grade from Croatia reportedly sold at $325/t.
TRY Depreciation and Production Costs
According to market observers, the Turkish Central Bank’s recent rate cut could lead to a depreciation of the Turkish lira, increasing costs for imported scrap, energy, and raw materials. This may squeeze mills’ profitability while pushing domestic scrap prices higher.
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