Turkey Slows Down on Scrap Metal Purchases
on May 29th, 2008 at 3:01 pmTurkish steel mills have bought a lot scrap earlier; therefore the scrap market is very quiet now.
The freight for USA eastern to Turkey has risen by US$100/ton. According to the latest two deals of deep sea scrap, the price of HMS1&2 80:20 scrap was at CIF US$728/ton, and P&S scrap was at CIR US$738/ton.
One of Egypt’s mills has purchased shredded scrap at CIR US$750/ton. The price for A3 scrap of black sea to Turkey is between CIR US$710 to 715/ton.
The scrap price in Turkey remains steady due to weak demand. But with shipment and iron ore prices skyrocketing, scrap price in the future will be decided by supply and demand.
Source www.yieh.com
