Turkish ferrous scrap import prices were unchanged on Tuesday after the sudden rise last week pushed buyers and sellers into a stalemate as the market sought direction.
S&P Global Platts assessed HMS I/II 80:20 at $353.50/mt CFR Turkey on Tuesday, stable from Monday.
Prices rose $21 on the week to be assessed at $353.50/mt CFR Friday.
Talk on Monday looked to $360/mt and higher, but sellers were less enthusiastic on Tuesday. According to a scrap agent in Turkey for several premium exporters, $360/mt would be a difficult level to reach this week and he expected no trading.
"[Exporters] are talking about October shipment now, mills can afford to wait a couple of weeks to book if they have to," he said. "So far they've waited three days."
Buyers skipping this week could cause exporters to change their expectations of where the market would head, he added.
A Baltic exporter said he had a September cargo available, however, and had been fielding inquires from Turkish mills. These were not serious, he added, and were only to check the temperature of the market.
"Both buyers and sellers are in wait-and-see mode right now. They are watching finished products to see what is possible," he said.
Turkish rebar offers in the domestic market were heard mostly in a range of $540-$550/mt ex-works on Monday.
Export levels were said to be similar, though effective pricing was seen at $526/mt FOB on Tuesday.
Domestic prices seemed to be accepted, but demand was lower than in previous weeks, a source said.
