Turkish mills have been active in bookings of short sea scrap due to the higher prices and the still limited number of offers for deep sea scrap. According to market sources, a Turkish mill in the Marmara region has signed a deal with a Romanian supplier for total tonnage of 10,000 mt of HMS I/II 80:20 scrap at $290/mt CFR. In addition, an Izmir-based Turkish mills has booked 3,000 mt of HMS I/II 80:20 scrap from the Adriatic region at the same level, as heard by market sources. As a result, scrap prices from Romania and the Adriatic region have increased by $4-8/mt compared to previous deals. “Short sea suppliers have increased their price levels step by step following fresh deep sea deals. Besides, they may increase their offers again in the coming days,” a source said.
Moreover, according to market sources, a Russian supplier has sold a cargo to a Marmara region-based Turkish mill, including 5,000 mt of HMS I/II 90:10 scrap at around $297/mt CFR for January shipment. Russian suppliers have started to be more active in the Turkish scrap market, offering January shipment cargoes, as Russian exports quotas will be lifted in the first quarter next year and there will be no other restriction until April at least.
No new deals for ex-Israel scrap have been heard in Turkey, but Israeli suppliers have reduced their offer prices by $5/mt compared to previous transaction level reported by SteelOrbis yesterday. Ex-Israel offers for HMS I/II 75:25 have reached $270/mt CFR.
According to market sources, 2,000 mt of HMS I/II 80:20 scrap from Abkhazia in Georgia has been sold to a Marmara region-based Turkish mill at $283/mt CFR. The cargo will be shipped from Shuomi port. Market sources have told SteelOrbis that, while Turkish mills’ appetite for short sea scrap will remain strong, suppliers will follow the trend in the deep sea segment.