The scrap price is increasing continuously due to strong demand in the Turkish scrap market. Currently, the Turkish scrap price went up to US$260/ton CFR Turkey.
Last week, the price for shredded scrap was CFR US$255/ton and for high quality scrap the price was at CFRUS257/ton. Europe''s H1 and H2 (70:30) mixed scrap price was CFR US$259.5/ton (Turkey).
Besides, black sea scrap increased to CFR US$260/ton (Turkey), and in Algeria and Libya H1 and H2 (70:30) scrap was at CFR US$240~245/ton.
This week, Turkish mills will not purchase a lot scrap, instead they hold a wait and see attitude towards the exporter''s local market. Source: Yieh.com