According to market sources, HMS I/II 80:20 scrap offers from Lebanon to Turkey are currently in the range of $300-310/mt CFR. Additionally, the latest ex-Israel deal in Turkey's Iskenderun region for HMS I/II 80:20 scrap was concluded at $290/mt CFR, while no new ex-Lebanon transaction has been heard since the beginning of the week.
Market sources state that in recent deals deep sea scrap prices have increased slightly and thus Lebanese scrap suppliers have revised their prices upwards. Even though producers in Turkey's Iskenderun region want to conclude short sea scrap deals, they are reluctant to do so because they think the price levels are on the high side. Market sources report that in their counter-offers buyers have been seeking the level of $290/mr CFR from Lebanon, while Lebanese scrap suppliers are unwilling to reduce their prices due to the ongoing uptrend of deep sea scrap prices.