Following the ex-US deals concluded by the same Marmara-based Turkish steel mill, an ex-Canada booking was disclosed in Turkey’s import scrap market late yesterday, July 13.
SteelOrbis has learned that the transaction was done by an Izmir-based steelmaker for HMS I/II 95:5 scrap at $489/mt CFR and shredded scrap at $499/mt CFR. The detailed information about the tonnage varies and has not been confirmed by the buyer or the seller by the time of publication, though the total cargo is 35,000-40,000 mt. The information to hand signals $484-485/mt CFR for HMS I/II 80:20 scrap, which is practically in line with the ex-US HMS I/II 80:20 scrap prices recorded yesterday at $485/mt CFR.
As tomorrow is a national holiday in Turkey, today the local steel market has been quiet. The return of the Canadian seller has also supported the negative expectations in terms of prices, as this seller usually sells four to five cargoes in succession to Turkey.