On the first work day of the current week, new deals have been disclosed in the import scrap market in Turkey, indicating a further fall in quotations.
The first deal was from Sweden - heard to have been done on Thursday, March 26 - concluded by a Marmara-based Turkish mill for HMS I/II 80:20 scrap at $207/mt CFR, shredded scrap at $212/mt CFR and bonus grade scrap at $217/mt CFR.
Also, an ex-Denmark deal was concluded by a Black Sea region-based Turkish mill over the weekend for a cargo consisting of 9,000 mt of HMS I/II 80:20 scrap, 14,000 mt of shredded scrap and 3,000 mt of bonus and P&S grade scrap at the average price level of $210/mt CFR. The HMS I/II 80:20 price in this deal is estimated to be at $206-206.5/mt CFR.
As a result, for now the deep sea HMS I/II 80:20 scrap price for Turkey has settled at $206-207/mt CFR, versus the estimated $207-215/mt CFR range seen at the end of last week.