Prices of European origin scrap have increased in a deal to Turkey disclosed to the market today, June 8, rising to a level considered to be in line with the previously confirmed bookings from the Baltic region and the US, respectively closed at $260/mt CFR and $259.5-260/mt CFR for HMS I/II 80:20 scrap.
SteelOrbis has learned that an Iskenderun-based Turkish mill has concluded an ex-Germany booking for HMS I/II 80:20 scrap at $259.5/mt CFR, shredded scrap at $264.5/mt CFR and bonus grade scrap at $269.5/mt CFR, for shipment in the second half of July. The total tonnage is 30,000 mt. The previous deal from Europe was closed at $257.5/mt CFR for HMS I/II 80:20 scrap last week.
As SteelOrbis reported earlier today, deep sea scrap prices had increased in two new deals - from Sweden and the US - disclosed to the market and this upward movement was in line with expectations. Also, market sources state that the euro-US dollar exchange rate at 1:1.13 is making things harder for suppliers in Europe and the Baltic region due to collection costs. While sentiment in the market is still good on the back of the many bookings closed since the beginning of June, some market sources say that, as of today, the indicators signal a sideways movement for the time being, though some still anticipate a rise in prices.
