Turkey slowed down purchase, international scrap price faced the downward pressure

Sep.1 MetalBiz--The market participants said that because Turkey small steel mills slowed down the purchase, the international scrap steel price is expected to slip in the future several days.

In July and August this year, the price of Turkey imported steel scrap gradually increased, but presently there are still huge inventories in many steel mills of Turkey and no new orders up to next month. A debar manufacturer in Turkey disclosed that China domestic steel market rebounded and the purchase of steel scrap slowed down, which reduced the international steel scrap price further.

Market participants said that the export price of No.1 and No.2 (80:20) mix heavy scrap from Europe and US to Turkey was U.S.$315-320 per ton (CFR), compared with last week, the export price of shredder scrap was U.S.$320-325 per ton.

Although the market is expected to be in downward tendency, some suppliers still tries to push up the steel scrap price. Presently the export price of steel scrap from Europe to Turkey is at U.S.$320-325 per ton (CFR) and U.S.$325-330 per ton (CFR) from US to Turkey. It is understood that there is no deal with the price. At present, the steel mills in Turkey focus on the sales of long products rather than the purchase of steel scrap.