An ex-Denmark deal to Turkey has been disclosed in which the deep sea price has increased to the anticipated levels.
A Black Sea-based Turkish mill has concluded the transaction in question, with the HMS I/II 80:20 scrap price at $465/mt CFR. The deal is reported to have been done towards the end of last week, though no further details except for the price level have been shared by the parties by the time of publication. Prior to this purchase, Baltic origin HMS I/II 80:20 scrap prices were standing at $455-460/mt CFR.
A rumor of an ex-US scrap booking has also been shared, reportedly by a producer in the Iskenderun-region. The cargo is said to consist of P&S and shredded grades at $478/mt CFR, equivalent to $463/mt CFR for benchmark HMS I/II 80:20 scrap. Previously, ex-US benchmark grade prices were at $460.5-461/mt CFR in deals.
As SteelOrbis reported earlier this week, more positive sentiment prevails in Turkey’s import scrap market. With the bookings above, it can be seen that sellers have gained some ground and have managed to increase their sales prices closer to targeted levels. After the holiday season, Turkish mills are expected to conclude more deep and short sea purchases. Accordingly, prices are expected to remain firm and to have some room to move up further. It has also been learned that some billet in Turkey’s İskenderun region has changed hands at $650-655/mt ex-works, supporting sentiment in the scrap market.
In the short sea segment, HMS I/II 80:20 scrap prices from Romania and the Adriatic region have remained stable at $430-435/mt CFR. However, SteelOrbis observes that sellers in the short sea segment are also aiming for higher levels in their offers. The harsher weather is causing some delays in deliveries, and collection has been impacted negatively.
