SteelOrbis observes that deep sea scrap prices in Turkey have started to move up slightly in new transactions disclosed to the market in the last two days.
An Iskenderun-based mill has concluded an ex-Canada booking for a full shredded cargo at $263/mt CFR, for July shipment. The total tonnage is 30,000 mt. With the deal in question, the ex-Canada HMS I/II 80:20 price is now at $258/mt CFR Turkey, $2-3/mt higher than the previously recorded price for scrap of the same origin.
Meanwhile, price ideas for HMS I/II 80:20 from Romania and the Adriatic region are now in the range of $245-250/mt CFR Turkey, $3-7/mt higher as compared to the levels recorded last week.
Market players think that the upward trend in the market is continuing, and the recent deals have supported the positive sentiment in the market. “Prices have room to increase by $5-10/mt in the coming period,” one market player said, as another drew attention to rising domestic scrap quotations in the local US market. Some other sources have reported relatively livelier business activity in the domestic long steel market and that there are some availability problems surfacing in the Iskenderun region which support price increases.
