Another deep sea scrap booking has been made in Turkey today, July 29, indicating a very slight increase in ex-Baltic HMS I/II 80:20 scrap prices.
An Iskenderun-based steelmaker has concluded an ex-Baltic deal for 27,000 mt of HMS I/II 80:20 scrap at $276/mt CFR, 5,000 mt of bonus grade scrap at $286/mt CFR, and 3,000 mt of busheling scrap at $291/mt CFR. The latest shipment date is September 30. Earlier today, SteelOrbis reported that ex-Baltic HMS I/II 80:20 has reached $275/mt CFR Turkey.
Although Turkey will be on holiday in the period of July 31-August 4 due to the Feast of Sacrifice holiday, players do not rule out the possibility of new deals done during the holiday. Deep sea HMS I/II 80:20 quotations are expected to continue their gradual uptrend after the holiday, while some believe that $280/mt CFR is the next threshold for Turkish mills to have a breather.