Following the ex-US and ex-Baltic booking from last week, an ex-EU scrap transaction in Turkey has also been disclosed to the market with price levels for HMS I/II 80:20 moving sideways.
An Iskenderun-based producer closed the ex-Amsterdam deal on Friday, October 16, for 17,000 mt of HMS I/II 80:20 and 6,000 mt of bonus grade scrap at the average price of $283/mt CFR FO Turkey. This indicates that the HMS I/II 80:20 scrap quotations level is around $281/mt CFR, while the previous ex-EU scrap deals were closed in the range of $280-284.5/mt CFR for this grade.
Market players state that Turkey bought a lot of ex-EU cargoes last week, particularly from the UK. As a result, they anticipate more ex-Baltic transactions in the coming round, and the European scrap quotations are expected to follow the suit of ex-US and ex-Baltic deals where prices have a tendency to move up. Meanwhile, some market players in the Baltic and Europe state that domestic scrap prices have remained stable in the EU region, some even state that the scrap exporter companies are trying to reduce the domestic quotations.