What Turkey's electric steelmakers pay for ferrous scrap imports from the West hit a high of around US$296/MT C&F for the shredded grade in the fourth week of July when their negotiated prices rose to a level of US$290/MT for the shredded grade. At the same time, their negotiated prices moved up to a level of US$280/MT C&F for a mix of 80% No1 HMS/20% No2 HMS, with a high of around US$291/MT.
There is a strong feeling, though, that the Turkish import market for ferrous scrap from the West has limited room for a further advance because upward mobility is limited in Turkey's domestic rebar market.
At present, Turkish electric steelmakers such as Habas and Icdas are in action to negotiate for ferrous scrap imports from the West. It is understood that at least five deepsea cargoes of ferrous scrap were sold to Turkey early last week. |
