As of today, June 9, a second ex-UK deal has been disclosed to the market, becoming the fourth deal shared in Turkey’s import scrap market this week.
SteelOrbis has learned that a Marmara-based Turkish producer has concluded the transaction from the UK for HMS I/II 80:20 scrap at $504/mt CFR and shredded scrap at $524/mt CFR. The earlier ex-UK deal heard today indicated the $501/mt CFR level for benchmark HMS I/II 80:20 scrap.
SteelOrbis has heard that Turkish mills have begun to make price inquiries to conclude more deep sea scrap bookings. The market generally expects a rebound in deep sea quotations given the gradual rise in European scrap prices, and with Turkish mills returning to the market. Also, European contacts of SteelOrbis stated that some local mills are trying to keep scrap supply in the European domestic market by increasing their purchase prices. SteelOrbis has heard that US suppliers are targeting the level of $530/mt CFR for Turkey, while some market players have stated that demand for scrap is lively across the globe.
The short sea side, which has also been waiting for a signal from the deep sea segment, is lively as of today, market players have stated, with $475-480/mt CFR Turkey targeted for HMS I/II 80:20 scrap from Romania and the Adriatic region. A supplier operating from Cyprus and Israel has stated that Iskenderun-based mills are asking for $450/mt CIF for HMS I/II 75:25 from these sources, but sellers are unwilling to accept these levels and are targeting $465/mt CIF for next week.
