WEEKLY: Turkish scrap prices keep rising on short supply
Dec 10, 2019 17:00
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Prices of heavy melting scrap (HMS) 1&2 (80:20) to Turkey, the world’s largest importer of steel scrap, surged by another $17/tonne over the week of November 29-December 6 to hit a 15-week high of $279/t CFR as of December 6. The rise reflected the continuing robust demand for scrap among Turkish steelmakers over the past week, Mysteel’s latest survey showed.
Influenced by the tightness of scrap supplies, especially in the North American and European markets, Turkish steel mills were more willing to accept higher offers. Mysteel Global learned that a Turkish steelmaker recently booked a cargo of 17,000 tonnes of US-origin HMS 1&2 material at $290/t CFR with a mid-January