Turkish imported scrap prices remain under pressure

摘要

Turkish imported scrap prices remain under pressure due to uncertainty in Turkey's domestic and export rebar markets. In its latest short-range outlook, the International Rebar Producers & Exporters Association (IREPAS) said Turkey had almost used up its quota for longs exports to the European Union and therefore "there will not be any more Turkish sales to the EU market for a year." It added: "As a result, the supply-anddemand balance will not be in better shape than it is today for the Turkish mills." Turkish import prices for imports of premium heavy melting scrap 1/2 (80:20) averaged $296.15/mt CFR in June, almost flat on the previous two months, according to S&P Global Platts. In the second week of July, there was one US offer and some Baltic indicative offers at around $300/mt CFR amid a mostly quiet sell side market, though most buyers remained absent to focus on their longs pricing at the start of the week. "We have material, we are ready to sell [it], but the current prices are too low," one Turkish agent for a Baltic recycler said, expecting strong buying interest to return this week