Deep sea scrap prices have increased in two new deals which have been disclosed in Turkey’s import scrap market.
SteelOrbis has learned that an ex-Sweden deal was concluded by a Marmara-based Turkish producer on Friday, June 5, for 1,500 mt of HMS I/II 80:20 scrap at $260/mt CFR, 25,000 mt shredded scrap at $265/mt CFR and 1,500 mt bonus grade scrap at $270/mt CFR, for July shipment.
The same buyer has also concluded an ex-US scrap transaction for 25,000 mt of HMS I/II 95:5 scrap at $263.5/mt CFR, to be shipped in the first half of July. On the back of this information, the HMS I/II 80:20 price is estimated to be at $259.5-260/mt CFR. In the previous deep sea booking from Canada, the HMS I/II 80:20 price was at $258/mt CFR.
As a result, deep sea scrap prices in Turkey have increased in line with the expectations in the market. Along with the relatively livelier business in the domestic long steel market reported by market players on Friday, SteelOrbis has also learned that scrap quotations on the US East Coast are higher than expected during the June buy-cycle. The general mood in the import scrap market in Turkey is still positive.
