Turkey import scrap down as quiet market pressures offers

Chemical News: Turkey import scrap down as quiet market pressures offers

http://www.chemnet.com Nov 25,2015 Platts
Turkish export ferrous scrap saw a small decrease on Tuesday as a quiet market pressured against steady offer levels.

Merchants this week have placed offers solidly at $195/mt, though no trades or counteroffers have been heard.

"There is no purchasing interest from Turkey," said an agent for a European supplier, adding that they were on partial holiday while waiting for the January shipment purchasing to begin.

Mills are well stocked for the time being, said a Turkish purchaser. "The price is likely to stay where it is for a few weeks," he said.

Trader expectations saw the market softening before any purchasing began.

A Turkish trader said that while offer levels were fixed at $195/mt, there had been no deals and the price was expected to be lower.

A US trader said he heard that mills were already asking about January shipments, looking in the range of $190-$195/mt, though little activity was expected for the remainder of the year.

Platts assessed HMS I/II 80:20 CFR Turkey at $194.50/mt on Tuesday, down $0.50/mt on the previous day.
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