An ex-US scrap sale to Turkey, which was closed last week, has been recently disclosed to the market. According to market sources, the deal was fixed with a Marmara-based steel producer for 15,000 mt of HMS I/II 80:20 at $267.5/mt CFR and 15,000 mt shredded scrap at $272.5/mt CFR. The cargo will be shipped in February. As a result, the benchmark price declined by $5.5/mt from the earlier settled indicative level.
Another sale from the Baltic region, from Sweden specifically, was discussed in the market as closed two weeks ago to an Izmir-based steel mill. According to the information, which was not entirely confirmed by the time of publication, the deal was done for 7,000 mt of HMS I/II 80:20 at $270/mt CFR, 20,000 mt shredded at $275/mt CFR and 3,000 mt bonus at $280/mt CFR. However, the market expectation is lower now. Most players believe the prices for HMS I/II 80:20 to hit $260-265/mt CFR in the coming deals. “Some secret deals are being done for sure, hardly anything above $265/mt CFR is reachable,” a scrap agent said.
