The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) decreased by $2.50/mt to $272.50/mt cfr on Tuesday on new offers at lower prices from the North America and Europe.

 

According to market participants, a supplier from North America is offering HMS 1&2 (95:5) at $279/mt cfr, while an exporter from Europe has asked $270/mt cfr for HMS 1&2 (80:20). Some Baltic suppliers are looking for a buyer too, but no deals have been reported so far. 

 

Negotiations have remained slow in the Turkish ferrous scrap market, despite the lower offers as most mills refrain from buying in an environment where demand for steel products is low. 

 

The market has remained quiet after a sale from the UK at $277/mt cfr for HMS 1&2 (80:20), with some scrap bookings expected later in the week.

 

 

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