But demand was strengthening due to low stock levels in both Turkey and Asia, despite the weakness of the markets for finished steel - especially in Turkey.
The Turkish steel mills resumed their deep-sea scrap purchases and booked seven deep-sea cargoes this week, totaling 220,000 tonnes.
A steel mill in the Iskenderun region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (95:5) at $283 per tonne and 13,000 tonnes of shredded at $285 per tonne cfr on January 11.
Market participants said that the HMS 1&2 (80:20) price for this cargo would be $280 per tonne cfr, because shredded usually trades at a $5 premium over HMS.
Two cargoes were heard traded on January 10.
A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 28,000 tonnes of HMS 1&2 (80:20) at $280 per tonne,...