No fresh transactions have been reported in the Turkish import scrap market: suppliers have refrained from discounts, while bids from the mills are getting lower.
Ex-US HMS I/II 80:20 scrap is still on offer at $270-275/mt CFR, while firm bids from Turkey are at $260-265/mt CFR. “American sellers say they are not in the position to accept buyers’ prices,” a source mentioned.
The current offers from the EU and Baltic scrap collectors for HMS I/II 80:20 are the same, at $270-275/mt CFR, but bids from the Turkish side are heard at $20/mt lower or at $250-255/mt CFR, SteelOrbis has learned. However, most market players assume that the new deals for scrap of the mentioned origins will be closed around $260-265/mt CFR. Suppliers’ positions in the EU are considered to be a bit unstable amid lower domestic prices in some countries. In addition, the favorable euro/dollar rate might support sales abroad.
HMS I/II 80:20 scrap offers from Romania and the Adriatic Sea continue to come at $255-260/mt CFR, but some players expect a $5/mt decrease shortly. Ex-Rostov A3 scrap is available at $260-265/mt CFR Turkey, SteelOrbis has learned. However, short sea prices might strengthen a bit on the back of the recent quota announcement.