The ex-US HMS I/II 80:20 scrap price in Turkey has reached $269.5/mt CFR in a new deal disclosed to the market. This level is very close to the long-awaited level of $270/mt CFR for the benchmark HMS I/II 80:20 scrap price.
SteelOrbis has learned that an Iskenderun-based steelmaker has concluded an ex-US deal for HMS I/II 80:20 scrap at $269.5/mt CFR, shredded scrap at $274.5/mt CFR and bonus grade scrap at $279.5/mt CFR. The total tonnage of the cargo is 34,000 mt. Prior to this deal, ex-US HMS I/II 80:20 scrap quotations were at $267/mt CFR.
As SteelOrbis mentioned previously, US scrap suppliers are now aiming for higher levels at $270-280/mt CFR Turkey. SteelOrbis has learned that European suppliers’ price ideas for HMS I/II 80:20 scrap to Turkey are at around $265-267/mt CFR, while some believe that ex-EU scrap quotations may reach $270/mt CFR. Also, for ex-EU HMS I/II 75:25 scrap, sources’ ideas are at around $263-267/mt CFR Turkey. Turkey has room for five to seven cargoes for August shipments, according to some sources, while others think Turkey will continue its purchases for August and has room for more cargoes.