Import scrap prices in Turkey have as expected firmed up in new deals, though they have not yet hit the anticipated $260/mt CFR levels for HMS I/II 80:20. However, sources expect this could happen by the end of the week.
An ex-US cargo has been sold to a Turkish buyer in Izmir at $258.5/mt CFR for HMS I/II 80:20, with shredded and bonus grades priced at $263.5/mt CFR and $268.5/mt CFR, respectively. The 40,000 mt cargo will be shipped in the first half of December. As a result, the ex-US benchmark price has increased by $6.5/mt compared to last week.
In addition, the same steel producer, according to the sources, has booked an ex-Baltic scrap cargo to be supplied by two collectors. The 34,000 mt lot to be shipped in December consists of HMS I/II 80:20 at $259/mt CFR and bonus grade at $269/mt CFR. The ex-Baltic scrap prices have increased by $15/mt as compared to the previous estimations for HMS I/II 80:20.