Following the ex-US scrap booking disclosed in Turkey’s import scrap market at the end of last week with a slight fall in prices, three new ex-US deals as well as one older one to Turkey all at increased prices have been shared today, July 14.
SteelOrbis has learned that a Marmara-based Turkish mill concluded an ex-US transaction yesterday for 19,000 mt of HMS I/II 80:20 scrap at $256/mt CFR, 10,000 me of shredded scrap at $261/mt CFR and 2,000 mt of bonus grade scrap at $266/mt CFR, for August shipment.
Also, an Iskenderun-based steel producer has concluded another ex-US scrap booking for 30,000 mt of HMS I/II 80:20 scrap at $257/mt CFR and 15,000 mt of shredded scrap at $262/mt CFR, for August shipment.
Another Iskenderun-based steelmaker has also concluded an ex-US deal, for 15,000 mt of HMS I/II 80:20 scrap at $257/mt CFR, 27,000 mt of shredded scrap at $262/mt CFR and 3,000 mt of P&S grade scrap at $267/mt CFR. Prior to these deals, ex-US HMS I/II 80:20 scrap prices were at $253-255/mt CFR Turkey.
Meanwhile, SteelOrbis has learned that an ex-US scrap booking was concluded by an Izmir-based producer on Friday, July 10, for 10,000 mt of HMS I/II 80:20 scrap at $255/mt CFR, 14,000 mt of shredded scrap at $260/mt CFR and 2,000 mt of bonus grade scrap at $265/mt CFR.
As Turkish mills are continuing their price inquiries for deep sea scrap, further bookings are expected to be heard in the current week. Meanwhile, market sources believe that prices will move up gradually in each transaction. The significantly higher iron ore quotations are being observed closely in Turkey, since they may - coupled with the positive indicators coming from China - have a positive impact on the scrap side.
