Turkey’s import scrap market experienced a quiet week, while some deals have been disclosed to the market today, June 25, showing a decrease in deep sea prices.
SteelOrbis has learned that an Iskenderun-based Turkish producer has concluded an ex-US transaction for HMS I/II 80:20 scrap at $261/mt CFR, shredded scrap at $266/mt CFR and bonus grade scrap at $271/mt CFR. The total tonnage in the booking is 27,500 mt. Some market sources state that the deal was done on Tuesday, June 23, while some believe it was done on Friday, June 19. Either way, the ex-US benchmark HMS I/II 80:20 price has fallen by $4/mt compared to the previous booking concluded for August shipment.
Meanwhile, there is an unconfirmed rumor in the market about a Marmara-based mill concluding an ex-Belgium booking for a mixture consisting equally of HMS 75:25 scrap and bonus grade scrap at the average price range of $252-252.5/mt CFR. In the light of this information, the benchmark HMS I/II 80:20 scrap price is estimated to be at around $252-253/mt CFR if the deal in question was in fact done.
The import scrap market in Turkey needs more transactions to see a clearer picture of the real price levels. However, it is now clear that the workable price levels have decreased from the previous ones.
