Turkey has concluded an ex-Baltic import scrap transaction after a relatively long break. The workable price has declined since then, reflecting the current trend in the import scrap segment and generally pessimistic moods.
An Iskenderun region-based integrated steel producer has recently booked a scrap cargo from Latvia, consisting of 22,000 mt of HMS I/II 80:20 scrap at $368/mt CFR and including 3,000 mt of bonus scrap, evaluated by the market sources at $20/mt higher. The cargo will be shipped in the middle of August. With this transaction, the ex-Baltic import scrap indication in Turkey has decreased from the previous evaluation of $375-377/mt CFR.
The general HMS I/II 80:20 import benchmark price in Turkey remains within $367-375/mt CFR, reflecting also the latest deal prices from the UK and the US, which SteelOrbis reported earlier.
The situation in the rebar and billet segments is not supportive for the scrap suppliers. The export rebar prices have dipped to $585-595/mt FOB and similar levels are also available in the domestic market. In the meantime, the pressure from the billet pricing persists. Some of the Russian and Donbas billet suppliers consider “$490/mt CFR as a good price to sell nowadays”. According to the latest information, a couple of deals might have been concluded at $493-495/mt CFR with no details confirmed just yet. The SteelOrbis reference price for ex-Russia billet is now at $468-470/mt FOB, down from $470-480/mt FOB over the day.