Turkey's scrap prices which had fallen to $380/mt CFR for HMS I/II 80:20 by early April were still unsustainable given billet and finished steel prices at that period, said Helveco Intertrade SA director Yusuf Güven in a telephone interview with SteelOrbis, and so with the downtrend seen in scrap prices since then steel mills have now grabbed a better price range, which has also provided them with some relief for their profit margins, he added. Mr. Güven said that, following the latest declines in scrap prices, Turkish mills have bought more than 1 million mt of ex-deep sea scrap for delivery in July. Güven also stated that scrap prices may fluctuate within a narrow band in the coming months as the market is expected to slow down due to the summer lull and Ramadan.
According to SteelOrbis Steel Reference Prices, Turkey's import HMS I/II 80:20 scrap prices on CFR basis have decreased by about $45/mt since the second half of March.
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