The import scrap segment pricing in Turkey has continued to firm up with a fresh sale closed from the US. A Marmara region-based Turkish steel producer has recently agreed to pay an average price of $256/mt CFR for 20,000 mt of HMS I/II 90:10 and 20,000 mt of shredded scrap. The cargo will be shipped in early December, SteelOrbis understands.
With the mentioned deal, the HMS I/II 80:20 benchmark price level is estimated at $252/mt CFR, up $8/mt compared to the most recent sale from the US. This week, offers from the US have been at $250/mt CFR Turkey and above. In the meantime, despite the clear rise in prices, there is still a lack of confidence in the uptrend in the scrap segment as Turkish long steel sales remain rather weak. As a result, some market players believe that scrap prices could still regress, while others believe they may strengthen further.