East Coast asking prices for bulk cargoes of HMS I/II and shredded scrap to Turkey have held steady since early December, although Turkish mills have indicated they’re not willing to pay prices at that level. The current price for HMS I/II is $395-$400/mt CFR, while shredded scrap is at $400-$410/mt CFR, but no one is biting. US domestic prices are up $20-$25/lt this month, according to dealer sources, and inventories are low due to hampered collection efforts brought on by the recent Polar Vortex storms. As such, exporters are now participating in the domestic market and don’t seem to be too concerned that bookings out of Turkish mills have fallen quiet. For now, Turkish mills seem to be content booking cargos out of Europe at price points slightly below US asking prices.
Meanwhile, US West Coast scrap exporters say prices for containers of heavy melting scrap I/II (80:20 blend) have trended neutral in the past 30 days. Offer prices for HMS I/II to Korea have held in the approximate range of $370-$375/mt CFR. As in previous weeks. Asian mills are still trying to push for lower prices, but West Coast scrap dealer sources are standing their ground.