According to market sources, an ex-UK scrap sale was closed to Turkey at the end of last week. An Izmir region-based steel producer purchased 12,000 mt of HMS I/II 80:20 scrap at $300/mt CFR, 18,000 mt of shredded at $305/mt CFR and 12,000 mt of bonus grade at $310/mt CFR, SteelOrbis has learned. The cargo will be shipped in February. Last week, the same supplier was in the market with $305/mt CFR offers for HMS I/II 80:20. In the meantime, before the holiday season, ex-EU scrap sales were fixed between $297-300/mt CFR for the same grade, while this week two of the latest deals from the Netherlands have been concluded at $297/mt CFR, as reported earlier.
Overall, the market picture remains unclear with no solid trend seen just yet. Sources expect some deals to be closed by the end of the weak once all the suppliers are back from the holidays. In addition, players believe that scrap sellers from the US and the Baltic region will from now resist going below $303-305/mt CFR in upcoming negotiations. One of the ex-US suppliers is reportedly offering $310/mt CFR for HMS I/II 80:20 to Turkey, though for now it seems that Turkish mills will not accept such a high level.