Following the transactions disclosed to the Turkish import scrap market earlier today, November 19, an ex-Belgium scrap booking has been shared with HMS I/II 80:20 scrap prices hitting at $330/mt CFR Turkey.
An Iskenderun-based producer has concluded the deal in question for 12,000 mt of shredded scrap, 12,000 mt of bonus grade scrap, 15,000 mt of HMS I/II 75:25 scrap and 4,000 mt of new cuttings at the average levels of $333/mt CFR. According to this information, the HMS I/II 80:20 scrap quotations from Belgium to Turkey are predicted to be at around $330/mt CFR. Previous to this booking, the HMS I/II 80:20 scrap price in an ex-Germany deal was at $326.5/mt CFR.
The uptrend of the Turkish import scrap market is expected to continue as Turkish mills’ order books are full, which are also supported by the positive indicators in the international steel market. It is largely known that Turkish mills are still receiving demand from overseas, some even for March shipments. Some market players think that levels at around $330-335/mt CFR may be maintained for Baltic prime grade scrap for the short term, while others expect prices to move up gradually in the coming transactions up to $340-350/mt CFR Turkey.