The global scrap metal market has completed a weak week. In the Turkish steel market, there was a slowdown and declines attributed to the Israel conflict and a sluggish domestic market.
According to Steelradar.com's assessment, scrap prices fell by $9-10 per ton this week. Purchases of HMS (80:20) scrap from the United States experienced a decline, reaching $361-363 per ton.
The slowdown in demand from Israel and ongoing geopolitical uncertainties have caused difficulties. The price gap between construction steel and scrap has significantly reduced to the $200-205 per ton range.
This week, the latest connections made by Turkish steel producers include:
- HMS (80:20) scrap from Venezuela at $358/ton CFR Turkey level.
- Short sea scrap from Romania at $335/ton CFR Turkey basis.
- Steel mills located in the Mediterranean and Eastern Marmara region purchased deep-sea shipments of HMS (80:20) and HMS (75:25) scrap from European suppliers at prices of $359/ton and $361/ton CFR Turkey, respectively.
Comments
No comment yet.