TURKEY June 22 2017 2:17 PM
ANKARA (Scrap Register): Turkey is looking forward to take their first cargo delivery of Chinese Steel scrap in few months, Mario Borsese, co-founder and managing partner at steel trader DP Trade quoted to Platts.
After the induction furnace crackdown, Chinese traders were really looking a way to move their domestic materials, mainly to a large export market like Turkey. There have been problem developing given the immature nature of Chinese export flows, with buyers in Vietnam.
"If we compare scrap with iron ore, scrap should decrease, but it's clear it should have decreased already," as per Jose Angel Rey, commercial director of steel producer Celsa Group.
Turkish mills were seen comfortable in paying scrap prices of about $270-$275/mt CFR, because they were looking forward to sell rebar domestically at reasonable price. Exports to Turkey seems to be increasing significantly and with this trend cargo’s from Europe is also expected.