In two ex-EU scrap deals disclosed to the Turkish market today, November 25, deep sea scrap prices have maintained their rising trend.
A Marmara-based mill has concluded the deals in question. The first booking was made from Holland for a cargo consisting of 22,500 mt of HMS I/II 75:25 scrap and 7,500 mt of bonus grade scrap at the average price of $335/mt CFR Turkey, to be shipped in the first half of January. Although the details of the second cargo which was bought from Belgium have not been disclosed, the average price level is at $341/mt CFR Turkey. According to this information, the benchmark HMS I/II 80:20 scrap price is estimated to be around $338/mt CFR Turkey. Before the deals in question, an ex-Belgium booking concluded two days ago had been transacted at $332-333/mt CFR for HMS I/II 80:20 scrap, which was in the range of SteelOrbis’ daily prices at $330-335/mt CFR.
European suppliers are in agreement that there is a slowdown in scrap flow. One seller in the region has said that if they had enough tonnages they would not experience a problem finding a buyer. Demand received from Turkey for scrap is still strong in Europe, market sources add. The indicators in the global steel markets have remained positive, while steel prices in Turkey and throughout Europe are still rising. This is read as a signal that deep sea scrap quotations will also remain strong.
