Contrary to expectations, scrap flows did not improve despite improved weather conditions. While a recovery in scrap values is expected in Turkey, most market participants expect further declines.
According to market participants, US producers may not show a notable willingness to buy scrap and prices may range between $20 and $40 per gross ton depending on grade and region.
In Turkey, producers are aiming to buy premium HMS 1&2 80:20 CFR at around $375 per tonne, but suppliers are holding firm on their offers. Turkish producers had to pay $385 per ton CFR for premium HMS 1&2 80:20.
At the same time, Taiwan's scrap market has increased. Offers for containerized US HMS 1&2 80:20 scrap were above $365 per tonne cfr Taiwan, up $2.5/t from the previous week.
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