Several deals have been disclosed to the Turkish import scrap market today, April 7, though prices hit $431/mt CFR in the last ex-Europe deal which is confirmed to be done today.
SteelOrbis has been informed that a Black Sea-based steelmaker has concluded the ex-France deal for 10,000 mt of HMS I/II 80:20 scrap at $431/mt CFR and 5,000 mt of bonus grade scrap at $441/mt CFR. The cargo will be shipped in the first half of May. As SteelOrbis reported earlier today, another ex-EU transaction was done by the same buyer from Belgium with HMS I/II 80:20 scrap price standing at $426-429/mt CFR, depending on the premium paid for the shredded grade scrap.
As a result, SteelOrbis has revised its European HMS I/II 80:20 scrap quotations to $426-431/mt CFR. Meanwhile, Turkish producer Kardemir sold approximately 30,000 mt of rebar and 30,000 mt of wire rod to its local market today, after opening its sales at TRY 4,990/mt ($612/mt) ex-works for rebar and at TRY 5,675/mt ($695/mt) ex-works for 5.5 mm SAE 1008-1010 grade wire rod. While the announced levels were set at lower levels than market players had initially expected, one market player states that it is higher than the recent local sale done by an Izmir-based producer which totaled approximately 10,000 mt at $610/mt ex-works this week. Some market players think that after Kardemir’s sales domestic rebar prices might be revised upwards in the coming days.