Another Europe origin scrap deal has been disclosed in Turkey’s import market, with the transaction done towards the end of last week.
SteelOrbis has learned that the deal in question was concluded from France to Iskenderun, for 5,000 mt of HMS I/II 80:20 scrap at $440/mt CFR, 3,000 mt of shredded scrap at $455/mt CFR and 1,500 mt of bonus grade scrap at $455/mt CFR. The cargo’s deadline date for loading is November 20. Prior to this deal, European scrap prices in Turkey were in the range of $433-434.5/mt CFR in deals.
While the first day of the week usually is silent in Turkey’s import scrap market, the mood this week is better. There are still various views of the likely future trend of the market, though expectations for prices are mostly more optimistic. Demand is being received from Turkish mills, while some sellers are still not in the market, particularly US-based suppliers who are waiting for their domestic market to settle. Nevertheless, forecasts for the local US scrap market are also positive.
