Turkish mills remain rather active in the import scrap market, generating decent demand, suppliers report. Two relatively fresh deep sea deals have been recently disclosed to the market, with the prices being more or less in line with the previously reported transaction.
An Iskenderun region-based steel mill has closed a deal from the US for 24,000 mt of HMS I/II 85:15 at $443/mt CFR. The cargo is said to also include 4,000 mt of bonus grade, but the price has not been disclosed by the time of publication. In addition, another cargo is rumored to have been sold from Canada to the same steel producer consisting of 30,000 mt of HMS I/II 95:5 at $444/mt CFR and 5,000 mt P&S at $454/mt CFR. Market players estimate the HMS I/II 80:20 price in these deals at around $435-436/mt CFR, which is in line with the level of the previously reported ex-US deal.
Taking into account that Turkish mills are seeking to restock with scrap and that negotiations are continuing, the suppliers believe there will be some short-term stability in the market in terms of prices. More deals are expected to be closed from Canada in the coming days, SteelOrbis understands.
