In a new ex-EU scrap booking made in Turkey, the benchmark price from the region has exceeded $345/mt CFR Turkey.
An Iskenderun-based mill has concluded this booking for 8,000 mt of HMS I/II 80:20 scrap at $346/mt CFR, 4,000 mt of bonus grade scrap at $356/mt CFR and 15,000 mt of shredded scrap at $360/mt CFR, for January shipment. Market sources believe that the lack of shredded scrap was the reason for the significantly higher price for shredded scrap in this case. Prior to this deal, a cargo from Holland was transacted at $338/mt CFR for HMS I/II 80:20 scrap.
Following the ex-Baltic deals disclosed yesterday, European scrap prices have once again increased. Market sources are waiting to see for the levels fixed in anticipated ex-US bookings. Import scrap quotations are expected to maintain their firm trend and there is more room for a further increase, according to market sources.
