It is observed that short sea scrap suppliers have achieved higher price levels in their sales to Turkey this week, while they are now targeting a further price increase.
SteelOrbis has learned that approximately 15,000 mt of HMS I/II 80:20 scrap has been sold to Turkey’s Izmir and Marmara regions this week from Romania and the Adriatic region at around $255-257/mt CFR. There have also been some sales from Romania for HMS I/II 80:20 scrap at $255-260/mt CFR Turkey. Some market sources state that the total tonnage sold from short sea sources to Turkey in the current week is 20,000 mt at a maximum.
Currently, short sea scrap suppliers in the Black Sea region are unwilling to cut their offers due to the US dollar hitting 1.15 against the euro. They are even aiming for higher quotations, at $260/mt CFR Turkey and above, market sources state.
Turning to Cyprus and Israel, market sources report that offers from suppliers in these countries for HMS I/II 75:25 scrap are at around $250/mt CIF Iskenderun, while deals are expected to be closed in the range of $245-250/mt CIF Iskenderun.