Tight supply, mill restarts support Turkish prices

摘要

Turkish import scrap prices plateaued in mid-April in the $256-$257/mt CFR range, after strengthening around $50/mt in recent weeks after the four-year low of $207/mt CFR in late March. At the start of the month, prices of premium heavy melting scrap 1/2 (80:20) jumped by $20.50/mt in one day to $230.50/mt CFR on tight supply and a more optimistic market outlook. Market participants suggested that Turkish mills would need to book decent finished steel orders in coming weeks to sustain the current scrap price level, although scrap collection in key exporting regions remains at low levels due to coronavirusrelated restrictions on movement.