Turkey scrap import price and billet export price stabilize

Sep.15 MetalBiz--Due to the declining demand of long products, most Turkey buyers returned to market to purchase steel scrap. At present, the offer of NO.1 and No.2 mix heavy scarp from US to Turkey is about U.S.$315 per ton (CFR) and the export price of shred scrap is at U.S.$320 per ton (CFR), which slightly decreased from one or two week before, but there is still no transaction.

A debar manufacturer in Turkey disclosed that the current debar demand is still sluggish and the price is relatively low, added if to purchase steel scrap with the present price, the profit will decrease, therefore, traders have to cut the purchase amount of scrap. The suppliers in US and Europe said that Turkey steel mills want to purchase No.1 and No.2 mix heavy scrap with U.S.$300-310 per ton and now mills are inquiring.

Traders revealed that because most buyers in Turkey still need to order the scrap delivery in October, it is expected that the buyers will return to the market when Ramadan ends in late September and the scrap price will maintain stabilization.

In addition, due to the stabilization of Turkey imported scrap, the settled price of billet from Turkey to Far east and Persian Gulf for production and delivery in October is U.S.$460-470 per ton (FOB) presently, which is unchanged from three weeks before. Traders said that due to the uncertain demand in construction industry, Turkey billet export market is still stagnant.