According to market sources, an ex-Russia scrap cargo, originating from north of the country, has been recently booked by a Turkish Iskenderun-based mill. The lot consisted of 17,000 mt of HMS I/II 95:5 scrap at $290/mt CFR and will be shipped in January. According to this sale, the HMS I/II 80:20 grade is estimated at $283/mt CFR, by $3/mt up compared to the previous sale from the Baltic region. The deal has not yet been confirmed by either buyer or seller.
Another scrap sale has been disclosed to the market today. A Turkish mill has purchased a cargo from Belgium, which consisted of 20,000 mt of HMS I/II 75:25 at $267/mt and 10,000 mt of shredded at $279/mt CFR. Source estimate that the HMS I/II 80:20 scrap price according to this sale is at around $274/mt CFR. Some players were reporting that the sale was concluded last week: however, it has been confirmed by SteelOrbis as being closed on December 3.
While Turkish mills are rather actively inquiring for scrap for January shipments, sellers are not in a rush to offer these days. One thing is that prices are on the rise, another one is that scrap collection is foreseen to slow down in the winter period. As a result, some sources report there are some difficulties in finding cargoes for shipment in the first half of January. Upward sentiment prevails for the time being.