An ex-Baltic scrap deal in Turkey has been disclosed today, October 11, showing an increase in prices.
SteelOrbis has learned that an Iskenderun-based mill bought the cargo from a Baltic-area source, consisting of 34,000 mt of HMS I/II 80:20 scrap at $463/mt CFR, 2,000 mt of shredded scrap at $478/mt CFR, 4,000 mt of bonus grade scrap at $483/mt CFR, 1,000 mt of rails at $483/mt CFR, and 4,000 mt of busheling at $483/mt CFR. The cargo will be shipped in late November/early December. The new HMS I/II prices show an increase from an average of $454.5/mt CFR last week to $463/mt CFR.
Sources tell SteelOrbis that the uptrend is the result of a lack of ready inventories in both tthe scrap and finished steel segments in Turkey.