Another ex-Europe scrap deal in Turkey

Friday, 20 September 2019 09:31:52 (GMT+3)   |   Istanbul
       

According to market sources, another scrap deal by a Turkish mill based in Iskenderun from Belgium for 15,000 mt of HMS I/II 75:25 scrap and 15,000 mt of P&S and HMS1 was concluded yesterday, September 19, at $236/mt CFR on average, for prompt shipment. When calculated, the price of HMS I/II 75:25 scrap in this deal is equal to $228/mt CFR. The cargo does not include HMS I/II 80:20 scrap, but according to the deal the price of this grade is estimated at $230/mt CFR. Some market sources believe that this deal does not reflect the real market price, while some market sources report that the Iskenderun-based Turkish mill is showing demand for scrap since it has not been buying for a long time. A market source said following this deal, “There seems to be resistance from American and Baltic scrap suppliers this week. European scrap suppliers are very active in the market.”


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