Another ex-US scrap deal in Turkey was shared with the market late yesterday, March 9, with the benchmark grade price indicating a rise.
SteelOrbis has learned that an Iskenderun-based steelmaker which returned to the market with its full capacity operational by the beginning of March concluded the ex-US deal for 12,000 mt of HMS I/II 80:20 scrap at $462/mt CFR, 9,000 mt of shredded scrap at $482/mt CFR and 9,000 mt of bonus grade scrap at $482/mt CFR. The cargo will be shipped in April. Before this deal, ex-US scrap prices were standing at $458.25/mt on average in line with concluded deals.
Another ex-Hamburg deal was closed by a Marmara-based producer earlier today with HMS I/II 75:25 scrap at around 451.5/mt CFR and bonus grade scrap at $476.5/mt CFR. Taking the bonus grade price in consideration, this deal now signals for a $457/mt CFR for benchmark HMS I/II 80:20 scrap for European prime grades, indicating a $3.5/mt rise.
Another ex-Belgium deal was closed by an Iskenderun-based mill, with the cargo consisting of 20,000 mt of HMS I/II 80:20 scrap, 10,000 mt of shredded scrap and 10,000 mt of bonus grade scrap at the average level of $460/mt CFR. This deal was done before the abovementioned ex-Hamburg booking.
As SteelOrbis reported lately, the local US scrap market has settled with HMS prices moving up by $21-30/mt and shredded scrap up $51/mt. Comparing this rise with ex-US scrap quotations, the increases in local and export prices are similar month on month. In the EU region, mainly Germany, collection activities have picked up slightly. As some German mills have increased their own domestic scrap procurement prices by €30/mt, collectors are more inclined to collect and sell. “Despite the improvement, I can say that scrap flow is 30 percent lower than usual,” a German sub-collector commented. Turkey continues to need deep sea cargoes for April shipment. Under the current circumstances, SteelOrbis still thinks that deep sea scrap prices have remained strong and that another price increase is possible in upcoming bookings.
