At the end of last week, there was a lull in the Turkish steel scrap market. Importers have achieved a significant reduction in prices for raw materials and plan to continue to dictate the terms of cooperation to exporters.The demand for weak scrap is due to the unfavorable developments in the finished products market. In addition, Turkish companies expect a further reduction in the cost of raw materials. “I believe that the plants will agree to pay a maximum of $ 325 / t CFR for HMS No 1 & 2 (80:20) material from the United States or the countries of the Baltic region,” explained Metal Expert trader. "Buyers are testing the market with prices in the range of $ 320-325 / t CFR for HMS No 1 & 2 (80:20) scrap from the United States or the Baltic region."
In the Azov-Black Sea basin, there is also a low level of business activity. There are practically no buyers of raw materials, and they insist on reducing prices. Prices of demand for brand 3A material from Russia (Rostov-on-Don) are announced in the range of $ 310-315 / t CFR Turkey.
