Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
Türkiye Steel returned to the deep sea scrap market late last week and ordered four batches of goods successively at a price of about 385 US dollars/ton CFR (shipment in April). Some agents expect that the market will receive several deep-sea scrap QSTE380N steel orders in the week after the end of Ramadan in Türkiye. We has learned that with the support of rising demand, the price of deep-sea scrap steel may increase by $5 per ton overall compared to last week. It is reported that American suppliers are seeking higher prices and plan to set the target price for resources originating from the Baltic Sea/United States at $390-395 per ton of CFR, while European suppliers are willing to sell the next batch of cargo at $385-390 per ton of CFR.
At the same time, although Türkiye's steel mill has raised the rebar quotation in the domestic and export markets, the QSTE380N steel demand for finished products has not improved. It seems that the current scrap inventory can meet the existing demand, which is difficult to fundamentally support the continued rise of scrap prices. Under the current market conditions, some steel mills in Türkiye still maintain a cautious attitude, saying that the price may continue to consolidate sideways rather than rise, and the QSTE380N steel market's acceptance of the price of scrap steel stabilizing and rising is questionable.
