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Turkish import ferrous scrap down as trade sentiment tips balance

Increase font size  Decrease font size Date:2015-12-22   Views:559
Turkish import ferrous scrap fell $2/mt on Thursday, down to $188/mt from Wednesday as a trade set lower sentiment among some market sources.

Sentiment remained split however, with a wide range of viewpoints being heard from market participants.

Some signals were heard that buyers were sniffing around for material, though no official bids or offers were in the market.

"The market seems a little strong," said a Baltic merchant. "It's more optimistic somehow, more balanced."

Estimations from other sources looked downwards, giving a market range of estimation for 80:20 of $186-$190/mt.

One bearish estimation came from a Turkish trader who believed the market would be in a range of $180-$190 for the short term.

"The price should go down because of no demand for final products," he said.
 
 
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