Import scrap prices from northern Russia to Turkey have increased slightly in a new deal disclosed to the market.
SteelOrbis has learned that an Iskenderun-based Turkish mill has concluded a transaction from northern Russia for 18,000 mt of HMS I/II 95:5 scrap at $275/mt CFR, for August shipment. In light of this information, the ex-northern Russian benchmark HMS I/II 80:20 scrap price is at around $267-268/mt CFR Turkey. Previous to this deal, the price in question was at $265-266/mt CFR Turkey recorded in the deal SteelOrbis reported yesterday.
Market sources report that ex-US HMS I/II 80:20 scrap offers are now at $270-280/mt CFR Turkey, while domestic HMS, shredded and P&S scrap prices in the US are mostly expected to move sideways in the August buy-cycle except for busheling scrap prices which are expected to decrease by $15-20/mt. Also, ex-Baltic HMS I/II 80:20 scrap offers to Turkey for the same grade are at around $270-275/mt CFR.
