SteelOrbis has learned that a Marmara-based Turkish mill has closed a deal for one ex-US cargo of HMS I/II 80:20 scrap at $501/mt CFR, and shredded and bonus scrap at $520/mt CFR, to be shipped in the second half of July. Prior to this transaction, ex-Canada bookings had signaled $500-504/mt CFR for US origin HMS I/II 80:20.
Also, two other ex-US scrap deals have been disclosed to the market. The relatively older one is reportedly to have been done by an Iskenderun-based producer at $502/mt CFR for benchmark HMS I/II 80:20 scrap. The newer one was done by a Marmara-based mill for HMS I/II 80:20 scrap at $502/mt CFR and shredded scrap at $522/mt CFR, according to market players. These two deals have not been confirmed by the buyer or the seller at the time of publication.
According to market players interviewed by SteelOrbis, deep sea HMS I/II 80:20 scrap quotations are fluctuating in the range of $490-505/mt CFR, with some European scrap sellers more relaxed amid the strong demand in their own region. On the other hand, Turkish producers have almost completed their deep sea scrap purchases for July shipment and are in no rush to purchase. SteelOrbis observes that Turkish producers’ scrap inventory levels are on the high side and healthy. Hence, with their ongoing finished steel export sales, they will continue to purchase deep sea scrap cargoes at a normal pace. Additionally, today, June 15, Turkey’s Kardemir opened its billet sales and closed them within a couple of hours, after selling around 60,000 mt at $684/mt ex-works for S235JR grade.
