Turkish prices up, US sees Nov sideways

摘要

Deepsea Turkish import scrap prices recovered mid-October as Turkish buyer sentiment improved due to stronger steel demand and higher US scrap prices. S&P Global Platts assessed Turkish imports of premium heavy melting scrap 1/2 (80:20) at $286/mt CFR on Oct. 16, up $3/ mt on the week before. Market participants expected the recent lift in export sales of rebar and billet by Turkish mills will keep scrap prices firm and rangebound at $285- $290/mt CFR in the near-term. The rebound in the Turkish market matched improved sentiment in the US for the November buy. Following an October buy week that saw firm price expectations fade to sideways, many suppliers were left with a negative outlook for the near term. That is understood to have subsided, however, as many expect sideways to firm-sideways pricing in the month ahead.