Two ex-Baltic deals have been disclosed in Turkey’s import scrap market today, May 20, indicating higher levels as compared to the previous purchases from the region.
SteelOrbis has learned that an Iskenderun-based Turkish producer has concluded one ex-Poland deal, with the HMS I/II 80:20 scrap price standing at $507.5/mt CFR. Although no further details have been shared about this deal at the time of publication, it is known the cargo will be shipped in the first half of July and does not consist fully of HMS I/II 80:20. The previous ex-Baltic cargo was bought from St. Petersburg and the benchmark HMS I/II 80:20 scrap price was at $507/mt CFR.
Meanwhile, an ex-St. Petersburg booking was also heard by SteelOrbis today, with the HMS I/II 80:20 scrap price at $510/mt CFR Iskenderun. This deal has not been confirmed by the seller or the buyer at the time of publication, but it has been accepted by many as an actual deal.
Additionally, short sea HMS I/II 80:20 scrap prices are at around $485-490/mt CFR Turkey from Bulgaria and the Adriatic region. There are rumors of a sale from Cyprus and Israel to Turkey’s Iskenderun region, with HMS I/II 75:25 scrap at $475/mt CIF.
It is observed that local scrap demand in the US and Europe is still strong. Some market sources state that ex-Baltic HMS I/II 80:20 scrap offers are still at $515/mt CFR Turkey, while European suppliers’ offers are at $505-510/mt CFR for the same grade. US suppliers are still not very active in terms of offers to Turkey. Also, there is still demand for finished steel in the international markets. Sentiment in Turkey’s import scrap market remains positive under the current circumstances.