The uptrend of import scrap quotations in Turkey has continued with the new transactions disclosed to the market today, April 9.
SteelOrbis has heard that a Turkish mill in the Iskenderun region concluded an ex-US deal on Tuesday, April 7, for 20,000 mt of HMS I/II 80:20 scrap at $245/mt CFR, 5,000 mt of shredded scrap at $250/mt CFR and 5,000 mt of bonus grade scrap at $255/mt CFR. As a result, the ex-US benchmark HMS I/II 80:20 scrap quotation is now $2-5/mt higher than the levels recorded in the transactions heard at the beginning of the week.
Additionally, an ex-Rostov scrap deal for a small lot of HMS I/II 90:10 scrap has been concluded by a Black Sea-based producer at $251/mt CFR. Meanwhile, a Marmara-based steelmaker concluded another ex-Rostov transaction for around 3,000 mt of HMS I/II 90:10 scrap yesterday, April 8, at $251/mt CFR. The previous ex-Russia deal disclosed to the market yesterday was for 3,000 mt of A3 grade scrap at $248/mt CFR, while SteelOrbis reported yesterday that ex-Russia offers for HMS I/II 90:10 were at $250-255/mt CFR.
Market sources state that the uncertainties regarding import scrap flow still exist due to the ongoing disruptions on the collection side. Also, some market players think that prices will continue their upward movement in the short term.