Turkey’s import scrap prices are surging in every deal, hitting $480/mt CFR today, October 13.
SteelOrbis has learned that an ex-Estonia deal has been concluded at $480/mt CFR for HMS I/II 80:20 scrap by an Izmir-based producer. Just earlier today, an ex-Sweden deal was closed at $470/mt CFR in Turkey. This deal has not been confirmed by the buyer or the seller, but is widely believed to have been done. Another deal from St. Petersburg is done by an Iskenderun-based producer for HMS I/II 80:20 at $480/mt CFR and bonus grade scrap at $495/mt CFR.
Meanwhile, an ex-Europe scrap booking from the Netherlands was done by a steelmaker located in Iskenderun, with HMS I/II 80:20 scrap priced at $475.5/mt CFR, approximately $10-15/mt higher than the previous estimations for the region. The total tonnage of the cargo is 40,000 mt.
No further details have been disclosed about these two deals at the time of publication. All market players agree that the uptrend of Turkey’s import scrap market will continue in the coming days, supported by the rises observed in the rebar and billet markets. Mills’ domestic rebar list prices were in the range of $710-740/mt ex-works today, while it is reported that an Iskenderun-based mill successfully sold 22,000-23,000 mt of billets locally at $690/mt ex-works. Scrap suppliers are maintaining a cautious stance as prices are moving up quickly. One seller commented, “With every sale, the previous one represents a loss, though in such situations securing contracts with gradual price rises is important”. Market players believe that levels in the $490s/mt CFR will be easily achievable in the coming days for prime deep sea grades.
In the short sea segment, SteelOrbis has increased its expectations for HMS I/II 80:20 scrap prices from Romania and the Adriatic region to $460-465/mt CFR in line with the rises observed on the deep sea side. Israeli sellers report that they are receiving good demand from Turkish mills, with HMS I/II 75:25 offered at $450/mt CIF Iskenderun. No deal has yet been heard at this level, but it is considered to be workable following the sharp increases recorded in the deep sea segment.
