Turkish mills are proceeding with their import scrap bookings as another ex-Europe sale has recently been disclosed to the market. Although the deal has been closed within the estimated benchmark price range, a bullish mood prevails among suppliers who have started testing buyers with higher offer levels.
According to sources, $465/mt CFR has lately been paid by a Turkish mill for HMS I/II 80:20 for an ex-EU cargo, which is in line with the estimated $460-465/mt CFR level for scrap of European origin. More detailed information regarding the sale has not been widely disclosed to the market.
More and more suppliers are reportedly offering at $470/mt CFR for premium origins and are climbing closer to $475/mt CFR as per their sales targets. “We will see. Rebar sales are there, billet is up, and so Turkey may go for another mild price rise for scrap,” a source told SteelOrbis.
