Turkish mini-mills have held billet export prices steady for the sixth consecutive week due scant demand and uncertainty about the direction of ferrous scrap prices.
Billet changed hands this week at $630-640 per tonne fob main Turkish port for May production and shipment, unchanged since the end of March
, according to Turkish mill and traders sources.
Sales were concluded to Saudi Arabia and the UAE for small tonnages for May delivery.
Ferrous scrap prices from Europe are unchanged for the second consecutive week.
Scrap suppliers in Romania have held their offer prices steady this week at $435-440 per tonne cfr Turkey for A3 scrap. This is the same level that business was booked last week.
Metal Bulletin has not heard of any offers from scrap exporters in the USA this week. They are expected to return to the market next week with fresh export offers to Turkish buyers.
Turkish mini-mills have been out of the US ferrous scrap market since the middle of last week when deals were concluded at $457 per tonne cfr Turkey for a mixed cargo of HMS 1&2 90:10 mixed, shredded and bonus material.
Turkish ferrous scrap buyers are expected to return to the market to replenish stocks for May shipment next week, according to Turkish market participants.