Fubao Information News on February 23:
1. Turkish scrap: Downstream sentiment is weak, and imported scrap steel continues to be traded in the near future
Turkey's deep-sea imports of scrap **slightly** due to sluggish rebar sales have forced sellers to push down**. Turkish scrap customers are hesitant due to sluggish steel market conditions, **expectations are still inconsistent with **merchants**, resulting in limited trading and cautious market sentiment, bulk cargoes from Northern Europe, 22,000 tonnes of HMS (80:20) and 3,000 tonnes of high-quality scrap, loaded at the end of March, selling for $406 tonnes and $431 tonnes. Turkish steel mills are aiming for lower**, $400 for US-produced HMS (80:20) CFR.
2. Bangladesh Scrap: Imported containers, bulk scrap** show different trends in the case of moderate trading
In Bangladesh, the imported black scrap market has been relatively slow to move after last week's modest activity, with divergent trends. Container shredded scrap from the UK and Europe nominally weighed $4-5 tonnes, while HMS (80:20)* remained small** to $413 tonnes CFR. Several container transactions have been completed in the last 7 days, with a total weight of about 6,500-7,000 tons, involving goods of different grades and origins such as Peru, Australia, Thailand and Malaysia. Japan's H2 scrap** ranges from $428-$432 tonnes, while US-made HMS (80:20) bulk steel** ranges from $433-$435 tonnes. At present, the local steel demand is sluggish.