31
May
15:35
Turkish scrap drops further on fresh US deal
Turkish scrap import prices continue to fall after a US-origin cargo was booked at below $440/tonne cfr Turkey, while still lower Russian billet prices continue to ramp up pressure on values, Kallanish notes.
The US cargo was for HMS 1&2 80:20 at $439/t cfr and shredded and bonus at $454/t cfr Turkey.
Russian-origin billet is meanwhile being sold into Turkey at $630/t cfr.
At the start of last week, the Turkish market was enthused by the conclusion of a few …
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Anonymous
Very good overview of the weekly steel market.
Anonymous