Turkey’s scrap import market stays cold

Recently, Turkey’s scrap import market has stayed cold and the prices have remained flat.

It’s said that a Turkish steel mill imported 25 thousand tons of HMS scrap 1&2 (80:20) and 15 thousand tons of shredded scrap with the deal prices at US$448~US$453/ton CFR.

Industry sources indicated that as Turkey’s steel mills attempt to obtain the lower import prices, they’ve taken wait-and-see attitude and observe the market situation of the Middle East and the North Africa.

However, some said that as Turkey’s steel mills current inventory of scrap might only be used for 40~60 days, they believe that Turkey’s buyers would return to the market in March.