Although it is late in terms of the local time zone, two more deep sea scrap bookings to Turkey have been disclosed to the market and these deals are reportedly concluded today, April 29.
SteelOrbis has learned that an Iskenderun-based mill has concluded another ex-Baltic deal for 23,500 mt of HMS I/II 80:20 scrap at $440/mt CFR, 5,000 mt of shredded scrap at $445/mt CFR, 2,500 mt of bonus grade scrap at $450/mt CFR, 1,700 mt of busheling scrap at $455/mt CFR and 2,300 mt of rail scrap at $455/mt CFR. The latest shipment of the cargo is June 15. Previous to this one, earlier today, another ex-Baltic booking was closed at $435/mt CFR for HMS I/II 80:20 scrap.
Also, another Iskenderun-based producer has concluded an ex-Belgium transaction for a cargo consisting of 20,000 mt of HMS I/II 80:20 scrap, 10,000 mt shredded scrap and 10,000 mt of a mixture of P&S grade and HMS I grade scrap at the average level of $433.5/mt CFR. According to this information, the HMS I/II 80:20 scrap prices are estimated to be around $428.5/mt CFR and is in SteelOrbis’ estimated price range of $427-432/mt CFR for this grade.
Turkey has experienced a lively day in terms of deep sea scrap bookings after a long of time of resistance from Turkish mills. Now with the anticipated $440/mt CFR is reached for HMS I/II 80:20, market players wonder what US-based suppliers will offer tomorrow for prime grades.