On May 25, prices of ex-Europe prime grade scrap have moved slightly up in Turkey with the new deal disclosed to the market.
SteelOrbis has learned that 20,000 mt of ex-UK HMS I/II 80:20 scrap has been sold to a mill in Turkey’s Iskenderun region at $247/mt CFR. HMS I/II 80:20 scrap quotation in the previous transaction from Europe was at $246.5/mt CFR for an ex-Netherlands cargo. Additionally, SteelOrbis’ estimated price level for ex-EU prime grade scrap was at $247/mt CFR before this deal.
The last couple of days were quiet in terms of new deals in the Turkish import scrap market due to the Ramadan holiday (May 23-26). Some market sources foresee deep sea scrap price levels to be at around $250/mt CFR after the holiday. Additionally, some expect short sea deals after the market is opened on Wednesday.