Turkish market participants were not working on Thursday July 15 because the country was celebrating its Democracy and National Unity Day.
The Islamic Eid al-Adha holiday will be observed during the coming working week, so trade is expected to be limited until Monday July 26.
Steel mills in Turkey booked five deep-sea cargoes earlier this week.
A steel mill in the Marmara region booked a European cargo comprising 28,000 tonnes of heavy melting scrap 1&2 (75:25) and 2,000 tonnes of a mixture of bonus and HMS 1 at an average price of $486.50 per tonne cfr on Monday.
The same mill also booked a 14,000-tonne United States cargo consisting of HMS 1&2 (80:20) at $493 per tonne and shredded at $508 per tonne cfr. This volume was in addition to a previous cargo booked on June 16 at $500 per tonne cfr for HMS 1&2 (80:20).
Also on Monday, a steel mill in the Marmara region booked a US cargo comprising 22,000 tonnes of HMS 1&2 (80:20) at $485 per tonne, 20,000 tonnes of shredded and 3,000 tonnes of bonus at $500 per tonne cfr.
The same mill booked a second US cargo consisting of HMS 1&2 (80:20) at $485 per tonne and shredded at $500 per tonne cfr.
And a steel mill in the Izmir region booked a Canadian cargo comprising 20,000 tonnes of HMS 1&2 (95:5) at $489 per tonne and 20,000 tonnes of shredded at $499 per tonne cfr on Tuesday.
As a result of the lack of trading activity, the daily scrap indices were stable on Friday.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $476.93 per tonne, unchanged day on day, while the corresponding index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was calculated at $484.56 per tonne, also flat day on day.
This kept the premium for US material over European scrap at $7.63 per tonne on Friday.