WEEKLY SCRAP WRAP: Turkish mills resume deep-sea bookings with better finished steel demand

Turkish mills resumed their deep-sea scrap purchases as soon as they had some demand for finished steel products in domestic and export markets, while Indian scrap prices have also recovered slightly, following the Turkish market.

Steel mills in Turkey booked a number of deep-sea cargoes during the working week from Monday April 24 to Friday April 28, while the US export markets were mostly quiet until a Turkish booking was heard late in the week.
Turkey imports
Turkish steel producers booked four cargoes this week, totalling 116,000 tonnes, as they managed to sell some finished steel in their domestic and export markets.
A steel producer in the Marmara region booked a Baltic Sea cargo, comprising 21,000 tonnes of HMS 1&2 (80:20) at $265 per tonne and 5,000 tonnes of P&S at $275 per tonne cfr, late on April 27.

Another steel mill in the Iskenderun region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $269 per tonne, 8,000 tonnes of shredded at $274 per tonne and 2,000 tonnes of bonus at $279 per...

Published

Cem Turken

April 28, 2017

17:44 GMT

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