Import scrap remains in demand in Turkey due to the necessity to restock and also amid concerns regarding a possible further price rise as the winter season is approaching. Two fresh bookings have been heard in the market.
A Marmara region-based Turkish steel producer has purchased 18,000 mt of scrap from the UK at $240/mt CFR for November shipment. The previous ex-UK deal to the same destination was reported on September 4, $16.5/mt lower than the current level.
In addition, an ex-Baltic scrap collector has sold HMS I/II 80:20 scrap to Turkey’s Marmara region at $243.5/mt CFR, with busheling bundles sold at $260/mt CFR. The cargo is to be shipped by the end of October. The previous level for the Baltic scrap, reported by SteelOrbis yesterday, was at $241.5-242/mt CFR for HMS I/II 80:20.
Marker players generally believe that the import prices for scrap will continue climbing for now as the Turkish mills still need to restock.