The import scrap prices fixed for the benchmark grade to Turkey from the Baltic region have been set in a rather wide range. Some of the sources surveyed by SteelOrbis explain the gap by the significant difference in quality, and so they believe that the final workable price will require more sales from the region in question in order for it to be fixed temporarily.
A cargo from Poland has been recently sold at $439/mt CFR for 25,000 mt of HMS I/II 80:20 and $454/mt CFR for 5,000 mt of bonus grade. The previous deal from Sweden was closed once again at $439/mt CFR, as SteelOrbis estimated earlier. However, according to the latest information, a cargo from St. Petersburg has recently been sold to the Marmara region of Turkey at $430/mt CFR for HMS I/II 80:20 and at $445/mt CFR for bonus grade. “The purchase of this cargo was done to exert more pressure on prices and this is a strategy to lower quotations,” a trading source told SteelOrbis.
