While the market is waiting for more scrap sales to be heard in order to confirm the uptrend in prices, one ex-Belgium sale has recently been disclosed as done at a relatively stable level.
According to sources, a Marmara region-based Turkish mill has purchased 20,000 mt of HMS I/II 75:25, 10,000 mt of shredded and 10,000 mt of a mixture of bonus grade and busheling scrap at the overall average price of $280.75/mt CFR. With this deal, the estimated level for HMS I/II 80:20 is $279/mt CFR, SteelOrbis understands. In the previous sale from Belgium fixed before the holiday, the same grade was estimated by most market players as $277-278/mt CFR.
Expectations remain positive for now, with most players believing prices will hit and exceed $280/mt CFR.
