Following the ex-US scrap booking reported earlier today, January 6, another one has been disclosed to the market which indicates higher levels for the benchmark HMS I/II 80:20 grade.
SteelOrbis has learned that a Marmara-based mill has concluded the transaction in question for 15,000 mt of HMS I/II 80:20 scrap at $480/mt CFR, 22,000 mt of shredded scrap at $490/mt CFR and 10,000 mt of bonus grade scrap at $490/mt CFR. The previously reported ex-US deal was closed at $478/mt CFR Turkey for benchmark grade.
After a long silence from the region, two ex-US scrap cargoes have been sold to Turkey this week. Before the New Year holiday, the last ex-US cargo signaled for $473/mt CFR Turkey for HMS I/II 80:20 scrap, while some concerns were voiced against the silence maintained by the US suppliers since it is known that they are receiving demand from Mexico, Brazil and Peru. Meanwhile, on the short sea side, some sources state that the $460/mt CFR Turkey level for HMS I/II 80:20 scrap from Romania and Adriatic is now considered workable, though some players are in no rush to conclude sales to Turkey for now.
