Another deep sea scrap sale has been disclosed in Turkey today, August 5, and this time the level indicates a clear price increase. According to sources, a Marmara region-based mill has sealed a deal with a supplier from Finland at $283/mt CFR for HMS I/II 80:20, $288/mt CFR for shredded and $293/mt CFR for bonus grade. A previous ex-EU deal was estimated at around $279/mt CFR, published earlier today.
With the new deal, buyers seem to have started accepting suppliers’ target prices, which have been mainly voiced at $280-285/mt CFR. More deals are expected to be closed within the range while some sources believe it might be exceeded. “HRC is strong nowadays, slabs and billet are increasing. The rebar market might also pick up soon,” a trader told SteelOrbis.