A new ex-EU scrap deal for Turkey has been disclosed to the market today, April 1.
SteelOrbis has learned that a Marmara-based steelmaker has concluded an ex-Belgium transaction for 20,000 mt of HMS I/II 80:20 scrap, 10,000 mt of shredded scrap and 10,000 mt of bonus grade scrap at the average level of $421/mt CFR, for May shipment. According to this information, ex-EU HMS I/II 80:20 scrap prices are estimated to be around $417/mt CFR Turkey. The previous ex-Belgium deal concluded on March 26 was at $411/mt CFR for the benchmark HMS I/II 80:20 scrap. Some market sources believe that this deal was concluded before the ex-US scrap booking closed at $430/mt CFR Turkey on March 31.
One market player in Europe stated that prices are set to increase for exports as the domestic scrap market is very strong. Also, there is a shortage of busheling grade scrap in the European region, confirmed by more than one market player. This material is in short supply also in the US, and some US buyers are looking for ways to buy busheling from Europe. Meanwhile, the other grades like old scrap and HMS I grade can be found as usual in the EU, one market source has reported. One market player stated that European sellers are targeting higher levels for their sales to Turkey in the coming period, citing the higher levels recorded in some sales to Scandinavian countries. Meanwhile, local scrap prices in the US are expected to move down in the April purchase cycle. Market sources have stated that scrap flow in the US is strong and that the market is still healthy.
