Mediterranean scrap suppliers keep close watch on deep sea prices

Thursday, 29 May 2014 14:29:22 (GMT+3)   |   Istanbul
       

According to market sources, ex-Lebanon HMS I/II 80:20 scrap offers to Turkey have remained unchanged over the past two weeks and are still at $340/mt CFR.

Last week, ex-Lebanon HMS I/II 80:20 scrap transactions for 10,000 mt in total to Iskenderun had been concluded at $340/mt CFR. The price in question was considered to be reasonable for ex-Mediterranean scrap at the time, but the buyers find it to be on the high side this week and are targeting $335/mt CFR for new purchases.

Deep sea scrap prices have decreased by $1-2/mt after the ex-US and ex-Baltic transactions concluded yesterday, May 28. Market sources state that, if the softening in deep sea prices continues, some price cuts may become possible for ex-Mediterranean scrap offers.


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