Izmir Demir Celik scrap purchase tender is the talk of the market

Izmir Demir Celik scrap purchase tender is the talk of the market

The market has been talking about the scrap purchase tender held by Turkish mini mill Izmir Demir Celik (IDC) by the end of last week. SteelOrbis learned from market sources that, around ten offers were submitted for the tender. It is understood that the lowest European origin scrap offer was submitted by BST for HMS I/II (60:40) scrap at $210/mt FOB St. The second lowest bid offered for HMS I/II (50:50) mix was said to be almost at the level of $220/mt FOB St. Although lasted long due to certain problems experienced, the negotiations following the tender were finally concluded between BST and IDC yesterday evening. Accordingly, IDC materialized purchase of HMS I/II (60:40) at the level of $210/mt FOB St and the purchase of shredded scrap at the level of $228/mt FOB St.