There are deals disclosed in Turkey’s import scrap market from last week, both from the European side. SteelOrbis hears that there were several sellers in the market towards the end of last week, willing to accept $410s/mt CFR. The increased number of sellers resulted in Turkish mills to put a break to the latest round of bookings as they decided to wait for the current week. Therefore, SteelOrbis believes that there can be more deals to be done this week, particularly on Wednesday and Thursday which are the only work days. Turkey’s Feast of Sacrifice holiday started on Friday to end tomorrow, July 12, but July 15 is the Democracy and National Unity Day of Turkey and most players are expected to remain out of the market until Monday, July 18.
SteelOrbis has learned that an ex-Netherlands deal has been done by an Iskenderun-based producer for HMS I/II 80:20 scrap at $405/mt CFR and bonus grade scrap at $425/mt CFR. Although the information was not confirmed by the buyer or the seller, it is believed to be done and the price of the benchmark HMS I/II 80:20 scrap is in line with the previous ex-EU booking closed at $406/mt CFR Turkey.
Meanwhile, there is another deal was done at $400/mt CFR again from Netherlands by another Iskenderun-based producer, but this deal is believed to be done at the beginning of last week. Therefore, the price is earlier than the ex-German deal done at $406/mt CFR towards the end of last week.
