Demand for import scrap is still observed in Turkey, while import scrap prices in the market have maintained their upward movement. Following the ex-Baltic HMS I/II 80:20 scrap deal concluded at the beginning of last week at $334/mt CFR, scrap suppliers increased their offers, with the HMS I/II 80:20 scrap price in a subsequent ex-Baltic deal concluded on Friday, December 1, being observed at $339/mt CFR. HMS I/II 80:20 scrap quotations in the most recent deals - details of which SteelOrbis has published in the current week - have reached levels of up to $345/mt CFR. In particular, the rises seen in global iron ore prices as well as the lack of competitive Chinese steel export offers in international markets have caused a strengthening of prices in the global steel market, while at the same time Turkish mills continue to show demand for import scrap.
Meanwhile, ex-Black Sea scrap deals in Turkey have been concluded at $325-327/mt CFR, while scrap collection costs in the region have started to move up following the rises seen in global scrap quotations, with new ex-Black Sea scrap offers to Turkey reaching $335/mt CFR.