A relatively old ex-Netherlands scrap deal has been disclosed to the market today, June 16, with the price level observed to be in line with the current ex-UK quotations.
SteelOrbis has learned that an ex-Netherlands booking was made by a Marmara-based Turkish producer on Thursday, June 11, for 15,000 mt of HMS I/II 80:20 scrap at $265/mt CFR, 5,000 mt of shredded scrap at $270/mt CFR, 15,000 mt of bonus grade scrap at $275/mt CFR and 10,000 mt of a mixture of rail and profile scrap at $280/mt CFR, for July shipment. This price level for the benchmark HMS I/II 80:20 scrap is in line with the ex-UK transaction reported by SteelOrbis yesterday.
Market sources expect deep sea quotations to remain in a narrow range in the coming period at $265-270/mt CFR, pointing to the fact that the market is more or less in equilibrium. Industrial production rates in Europe are rising but the approaching holiday season will cause supply to remain stable and available for export, some have said. Also, the euro-dollar exchange rate at 1:1.13 creates higher collection costs for European suppliers, especially since their previous deals were closed at lower price levels on US dollar basis.
