Following sales of ex-US, ex-EU and ex-Baltic scrap to Turkey, there has been a report of a further contract signed at a higher price level. According to market sources, a Izmir region-based Turkish mill has purchased a cargo of ex-Baltic scrap, which includes 24,000 mt of HMS I/II 80:20 at $299.5/mt CFR, 3,500 mt of bonus grade scrap at $309.5/mt CFR and 2,500 mt of busheling at $314.5/mt CFR. As a result, ex-Baltic scrap prices have increased by $1.5/mt compared to the previous deal reported by SteelOrbis.
There have been many deals heard in the market recently as deep sea suppliers have been seeking to sell scrap before the uptrend of prices comes to an end. Market sources have said that scrap prices have limited room for further increase.