Another deep sea scrap cargo from Canada to Turkey was transacted on Friday, April 9, being disclosed to the market today, Monday, April 12.
SteelOrbis has learned that an Iskenderun-based mill concluded the ex-Canada deal for a cargo consisting of 5,000 mt of shredded, 25,000 mt of P&S grade scrap and 20,000 mt of HMS I/II 90:10 at the average level of $445/mt CFR Turkey, for May shipment. It is known that the buyer is a flat steel producer and the fact that the cargo fully consists of prime grade scrap has attracted attention. According to the market sources evaluating this information, the benchmark HMS I/II 80:20 scrap price is estimated to be at around $438.3/mt CFR. Prior to this deal, another ex-Canada deal was disclosed to the market for a similar cargo, indicating the level of $431/mt CFR for the HMS I/II 80:20 scrap.
On the short sea side, workable levels for HMS I/II 80:20 scrap from Romania and the Adriatic region are still in the range of $405-410/mt CFR Turkey, market sources state, adding that demand is slow.
Market sources state that the market has made a quiet start to the current week.They have said that buyers’ bids for ex-Germany bonus grade scrap are at around €340/mt DDP Antwerp, while Ghent-based buyers are offering €330/mt ex-yard for the same grade. These levels are considered to be workable by a German scrap supplier. Some market players stated that the next price level in Turkey’s import scrap market will be determined by the decision of suppliers, as availability is still good. Hence, Turkish producers are comfortable and able to purchase at their own pace.
