With Turkish mills starting to purchase their deep sea scrap needs for May shipments, another ex-US scrap transaction has been disclosed to the market today, April 8.
SteelOrbis has learned that the booking in question was made by an Iskenderun-based mill for HMS I/II 80:20 scrap at $433/mt CFR, shredded scrap at $438/mt CFR and bonus grade scrap at $443/mt CFR, for May shipment. Prior to this deal, SteelOrbis’ price level for ex-US benchmark HMS I/II 80:20 scrap was in the range of $433-436/mt CFR and will remain stable after this transaction.
Deep sea prime grade scrap prices for the Turkish market have moved up in deals this week, while this slow upward movement is expected to continue in the coming days. Meanwhile, the expectations for the local US scrap market for the April buy-cycle remain the same: a $20/mt decrease for cuts and shreds and stable prices for busheling grade scrap.
