Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $282.08 per tonne on July 12, down by $14.10 per tonne from July 5.
CIS, Turkey, Egypt
In the Commonwealth of Independent States, market sentiment showed signs of weakening, with buyers adopting a more conservative approach because of a downturn in Turkish scrap prices and uncertainty over import duties in Egypt.
Asking prices for billet originating in Russia and Ukraine remained at $430-435 per tonne fob Black Sea, while buy-side sources in Turkey, Egypt and other parts of the Middle East, as well as traders selling material to these destinations, indicated their interest at $410-420 per tonne fob Black Sea.
Therefore, Fastmarkets’ steel billet index export, fob Black Sea, CIS, was $423 per tonne on July 12, down by $2 per tonne from July 5.
CIS-origin billet was available at $440-450 per tonne cfr Turkey, although bids did not...