Türkiye's imported scrap prices fell, expectations changed
According to SteelRadar's evaluations; In the second half of 2022, demand in global markets remained weak. Factories worked at 4/2 capacity, scrap supply and demand were stagnant. Expectations for the first quarter of 2023 were more optimistic. On January 1, 2023, the price of imported scrap in Türkiye rose from $394 to $416 on January 8th. However, this increase was thought to be temporary. Therefore, prices decreased again after some purchases. The prices, which fell to $388 on January 19, 2023, were recorded as the lowest price of the new year. The factories, which completely emptied their scrap yards in the face of slow demand, faced high offers in scrap prices when they arrived at the purchasing stage. The prices, which reached $424 again on January 31, 2023, became $426 on February 2.
After the Kahramanmaraş-centered earthquakes that shook the Türkiye, the global scrap companies got hungry due to the iron need that will arise in the region. Initially, the stoppage of major producers in the region caused a slight recovery in prices, which fell to $418 on February 13.
Afterwards, the expectations that Türkiye would enter an intense production period due to the restoration works and purchase a large amount of scrap supported the scrap prices.
After the 6 February Türkiye earthquake, prices increased gradually;
The initial rise rose to $450 on February 28, 2023, with many restoration announcements and intense production expectations. While the calendars showed March 13, 2023, Türkiye's imported scrap prices reached their peak and rose to $465. The intense weak demand experienced in the domestic market slowed down the scrap purchases of the factories and reduced the prices of imported scrap. Two ex-US scrap deals made in the Marmara Region last week decreased to $444/ton for 80:20. Briefly, in the second half of March, there was a decrease in the metallurgical raw material markets. Scrap prices fell. The reason for this was noted by all sources that there was a simultaneous contraction in demand in Türkiye and East Asia.
Türkiye shipbreaking scrap prices try to stay strong
According to the market research conducted by SteelRadar; Türkiye Aliaga shipbreaking scrap prices entered the new year at $382 on January 2, 2023. Prices, which rose to $403 on January 9, remained flat until the last day of January. As of February 1, it rose to $416 with the optimistic atmosphere in the global markets. Again, with the recent correction in imported scrap, it decreased to $410 on February 14 and became $422 for the week of February 23, $422, and $445 for the week of February 26-March 2, respectively. It fell to $430 with the recovery on March 5. In the second half of March, with the active purchases, shipbreaking scrap prices rose to $448. Until the end of March, prices remained flat at $448.
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