Scrap suppliers have maintained their offers at high levels for Turkey. A major Turkish steelmaker's downward price adjustment for rebar and billet has created a downward expectation in the market, resulting in slower activity and postponements in scrap buying activity.
Even though Turkish producers have not started to make scrap purchases to replenish their stocks for January yet, new deals are expected to be concluded in the coming days, with prices unlikely to soften. Current Baltic scrap offers for HMS I/II 80:20 to Turkey range at $390-395/mt CFR. Meanwhile, the low end of scrap offers from the Black Sea region to Turkey is at $380/mt CFR, while higher freight rates and winter conditions have prevented prices from decreasing.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.