Steel Mills
CRU: Turkish Scrap Import Prices Increase
Written by Yusu Mao
December 6, 2022
By CRU Research Analyst Yusu Mao, from CRU’s Steelmaking Raw Materials Monitor
Turkish scrap prices started to increase significantly last week. Accordingly, our assessment for HMS 1/2 80:20 rose to $374 per ton CFR based on two new deals, up $35 per ton week-on-week (WoW) and up $26 per ton month-on-month (MoM).
Scrap sellers have been raising prices amid tighter supply into winter months, and buyers were more active in the market last week in anticipation of further price increases. Although Turkish finished steel sales remain subdued, rising scrap prices have mills and stockholders seeking higher prices for fresh bookings. This has led to a rebound in longs export prices.
Outlook: Turkish Scrap Prices Unlikely to Retreat in the Near Term
Turkish scrap import prices are likely to stay rangebound around the current level or even increase further in the near term. Lower collection and slower market activity through the winter holiday period from major exporting regions are likely to support that dynamic. Scrap prices will then face more downward pressure from limited steel demand after seasonal impacts fade.
This article was originally published on Dec. 5 by CRU, SMU’s parent company.
Request more information about this topic.
Learn more about CRU’s services at www.crugroup.com
Yusu Mao
Read more from Yusu MaoLatest in Steel Mills
Cliffs, POSCO announce MoU for ‘transformative’ partnership
Cleveland-Cliffs on Thursday said it had signed a memorandum of understanding (MoU) with POSCO to forge a strategic partnership, one Cliffs bills as "transformative."
Cliffs touts steel stamping solution to replace aluminum in automotive
Cliffs said it successfully completed a defect-free trial production of exposed steel parts using aluminum-forming equipment in collaboration with an unnamed OEM,
Nucor navigates mixed flat-rolled markets with strategic muscle
Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.
Nucor scraps plans for new rebar micro mill in Pacific Northwest
Nucor has pulled the plug on a planned rebar micro mill in the Pacific Northwest.
Nucor profits jump, but company cautions on Q4 outlook
Nucor’s profits more than doubled in the third quarter year over year, but the company expects Q4’25 to be lower sequentially.