Import scrap prices in Turkey continue to move up

Tuesday, 05 February 2019 16:23:15 (GMT+3)   |   Istanbul

Turkish mills have continued to show demand for import scrap, with many deals being concluded amid their strong demand over the past two weeks and with HMS I/II 80:20 scrap prices moving up from $283/mt CFR to $315/mt CFR in this period. Meanwhile, in Turkey demand for short sea scrap is stronger than demand for deep sea scrap.

SteelOrbis has been informed that deep sea scrap offers from the Baltic region and the US to Turkey for HMS I/II 80:20 scrap are above $320/mt CFR. An ex-Baltic scrap transaction has even been concluded at this price level, market sources report, though the details of the deal in question have not been confirmed yet.

Meanwhile, the uptrend of short sea scrap quotations has continued in parallel with the strength of demand. The latest A3 grade scrap offers from Russia to Turkey are at $325/mt CFR, while A3 grade scrap offers from other short sea regions to the same destination are at $320/mt CFR. Turkish steel producers’ price ideas are at least $5/mt below this level. Many import scrap deals are expected to be heard in Turkey in the range of $315-325/mt CFR in the current week.

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