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Recently, the activity of the imported scrap steel market in Türkiye has cooled after the recent decline in the prices of a batch of scrap steel in Europe. The buyers and sellers tend to assess the future market prospects.
At present, the negotiation progress in the scrap steel FeE355 steel market is slow, and there is no new information on deep-sea scrap steel transactions. A source told Mysteel that the market now needs time to determine what to do next, referring to an order from France for a batch of scrap steel sold at a CFR price of $376 per ton, which has caused some reaction in recent times.
Although it was rumored shortly after the transaction that the import FeE355 steel price of high-quality scrap steel in Türkiye was close to 381 US dollars/ton CFR, participants agreed that American suppliers were unwilling to discuss such low prices, and Baltic exporters also held the same attitude. According to sources, the current purchase price of scrap steel and local market prices are favorable to the seller, so analyzing from a single transaction is meaningless.
Mysteel estimates that the current price of HMS 1&2 (80:20) scrap steel in the United States remains unchanged at 384 US dollars/ton CFR Türkiye FeE355 steel.
