Scrap export market awaits Turkish signal
Mar 25, 2013 | 01:54 PM
| Sean Davidson
NEW YORK The result of a bulk scrap tender released March 25 by a Turkish mill is expected to set the tone for this weeks U.S. and European export prices to the worlds largest scrap-importing nation.
U.S. exports to Turkey all but dried up about two weeks ago after Turkish mills stormed several markets to cover inventory positions for April (amm.com, March 18).
At the time, a weaker euro and stronger U.S. domestic market had Turkish steelmakers turning to British, European and Black Sea shores for a majority of their purchases.
On March 25, several market participants said conditions hadnt changed much since, with U.S. offers reportedly at around $403 to $405 per tonne c.i.f. Turkey last week for an 80/20 mix of No. 1 and No. 2 heavy melt and Turkish mill bids at anywhere between $395 to $400 per tonne, according to a scrap buyer for one Turkish steel producer.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.