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At the end of June some talks resulted in deals in Turkey.An Iskenderun-based steelmaker bought a mixed lot (a total of 25,000 t) from the USA for shipment in the frst half of August, Metal Expert learnt.The cargo contains no HMS 1&2 (80:20), but it shows that price stays unmoved at $290/t CFR.
A large Marmara-based company purchased a mixed batch (a total of 33,000 t) from a Lithuanian exporter, with HMS 1&2 (80:20) being priced at $290/t CFR. Quotes for Baltic material didn’t change either day-on- day. The same importer secured a mixed lot (a total of 40,000 t) from a Dutch supplier at an average price of $292/t CFR. Taking into account this agreement, price for European HMS 1&2 (75:25) advanced to $286/t CFR from the previous sale on this destination at $266/t CFR done around ten days ago, Metal Expert estimates. Trade activity was slow in Azov-Black Sea region during the last week of June. Most exporters decided to take a break in order to come back with higher prices next week. “We expect $280/t CFR soon,” a trader said.As a result, only one sale of HMS 1&2 (80:20) from Romania at $274/t CFR Marmara was heard, $9/t up week-on-week. Turkish steelmakers are likely to continue purchasing scrap in early July. “Of course, most of us didn’t buy car goes forAugust shipment,” an Iskenderun-based mill told Metal Expert.Offers for the material are not numerous so scrap collectors are going to keep pushing up quotes.Be sides, local demand for rebar and billet is strong. “Under current market conditions they [producers] have margin to pay more for scrap. If sellers resist they will have to pay,” a large supplier said.
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