Turkish steel producers resumed their deep-sea scrap purchases on Tuesday April 16 at slightly higher prices, but it was still unclear in which direction the market was moving, sources said.
A steel mill in the Iskenderun region booked a European cargo late on April 15, comprising 17,500 tonnes of HMS 1&2 (75:25) and 7,500 tonnes of bonus at an average price of $308 per tonne cfr.The cargo was scheduled to be shipped by May 15.The prices of each grade were calculated by Fastmarkets at $303.50 for HMS 1&2 (75:25) and $318.50 per tonne cfr for bonus grade.As a result of this transaction, the daily scrap indices went up on April 16.The daily index for Northern Europe-origin HMS...