Spotlight: US scrap sellers flood Turkish market with material as market finds price floor

Mar 22, 2012 | 03:40 AM |

The Turkish import market has been inundated with US scrap supplies over the past three weeks. More than 15 cargoes have been booked from US shores since the start of March as suppliers offloaded cargoes even as prices dropped back from February levels. In the early part of this week around five trades had been completed between US East Coast sellers and Turkish buyers with the price hitting a floor of $440 per tonne cfr for HMS 1&2 (80:20) and $445 per tonne cfr for shredded material.....

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