Three ex-Baltic deals were disclosed to the market at late hours today, May 6, with HMS I/II 80:20 scrap prices at $479-480/mt CFR Turkey.
SteelOrbis has learned that an Izmir based mill has bought a cargo from Estonia with HMS I/II 80:20 and bonus grade scrap standing at $479/mt CFR and $489/mt CFR Turkey, respectively. The cargo will be shipped in June. Previous to this deal, an ex-Finland HMS I/II 80:20 was bought at $471/mt CFR, for June shipment.
Meanwhile, a Marmara-based steelmaker has reportedly bought two cargoes, both from the Baltic region. The first one consists HMS I/II 80:20 scrap at $479/mt CFR and bonus grade scrap $489/mt CFR, while the second one was closed at $480/mt CFR for HMS I/II 80:20 scrap.
Additionally, SteelOrbis has learned that HMS I/II 80:20 scrap was sold from Romania and Adriatic region at $450/mt CFR Marmara and $460/mt CFR Izmir. A cargo from Israel was sold to Iskenderun two days ago and HMS I/II 75:25 scrap was at $420/mt CFR. Suppliers are currently aiming for $440/mt CIF Iskenderun and expect it to be accepted by mills in a couple of days.
Some market players state that Turkey is very close to completing its purchases for June shipments, and there may be some more deals that are not disclosed to the market yet. SteelOrbis observes that at least four Turkish producers have started to purchase deep sea cargoes for July shipments. Players in Turkish import scrap market anticipate deep sea price grade scrap quotations to reach and exceed the level of $500/mt CFR. Some mills state that they are receiving demand from the export market for October, adding that they are failing to share offers due to the long term. The general mood in the market is quiet strong on the back of Turkish mills promising export sales of finished steel products.