Ex-Baltic deals in Turkey push prices further up

Friday, 31 July 2020 11:17:53 (GMT+3)   |   Istanbul
       

Two ex-Baltic deals disclosed to the market late yesterday, June 30, and pushed prices further up.

An Iskenderun-based producer has concluded an ex-Baltic deal from Denmark for HMS I/II 80:20 scrap at $279/mt CFR and bonus grade scrap at $289/mt CFR, for August shipment.

Meanwhile, a Zonguldak-based steelmaker has bought another Baltic origin cargo from Finland for HMS I/II 95:5 scrap at $282.5/mt CFR, for September shipment. Accordingly, benchmark HMS I/II 80:20 scrap price is estimated to be at $276/mt CFR. Previous to these deals, another ex-Baltic deal was closed at $277.5/mt CFR for HMS I/II 80:20 scrap.

Import HMS I/II 80:20 quotations are expected to continue their uptrend, while suppliers’ new target at $280/mt CFR is now on the doorstep.


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