Turkey sees limited import trades
US East Coast exporters see bearish demand
Asian import prices up but downtrends possible
Monsoon in India reduces spot demand.
Turkish steel producers bought only a single import cargo this week amid soft downstream markets for long steel and billet.
A steel mill in the Iskenderun region booked a UK-origin cargo at $288 per tonne cfr for HMS 1&2 (80:20) on July 9. There were no other transactions heard concluded.
There was market chatter that a US-origin cargo was transacted at $294 per tonne cfr for HMS 1&2 (80:20), $299 per tonne cfr for shredded and $304 per tonne cfr for bonus scrap. But this could not be confirmed at the time of publication.
The daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, ended the week at $282.08 per tonne on July 12, down from $296.18 per tonne on July 5.