Turkey has remained active in scrap imports at the end of the week with a lot of new deals reported in the market, mainly for December shipments. Although some price levels have been adjusted slightly in a downward direction, most market players are still positive regarding the general trend and still expect the prices to move up, although at a slow pace.
A Marmara region-based steel producer has purchased a scrap cargo from the US in which HMS I/II 80:20 has been priced at $293.5/mt CFR, shredded at $298.5/mt CFR, and P&S at $303.5/mt CFR. Another ex-US supplier has traded 13,000 mt of HMS I/II 90:10 at $299/mt CFR, 3,500 mt of shredded at $301/mt CFR and 11,000 mt of P&S at $306/mt CFR, all to the Iskenderun region. In the second deal, the estimated price of HMS I/II 80:20 is $296/mt CFR. As a result, the ex-US scrap benchmark indication has weakened to $293.5-296/mt CFR, down $1.75/mt on average. In addition, there has been another deal from Canada to the Black Sea region for 20,000 mt of bonus grade, 20,000 mt of HMS I/II 95:5 and 10,000 mt of shredded at the average price of $310/mt CFR. In this deal, the source estimated the equivalent price for HMS I/II 80:20 at $303/mt CFR, SteelOrbis understands.
There have been a few more sales to Turkey’s Iskenderun region. One mill has purchased 25,000 mt of HMS I/II 95:5 from Russia’s Murmansk region at $304/mt CFR. “This material has low copper content and also is low residual, and therefore it is more expensive,” a source said. Generally, ex-Russia HMS I/II 80:20 from the Baltic region is estimated at $294-295/mt CFR.
Another mill in the Iskenderun has purchased an ex-Belgium cargo consisting of 25,000 mt of HMS I/II 75:25, 5,000 mt of busheling and 5,000 mt of P&S at the average price of $296.75/mt CFR. Another producer from the region, according to sources, has purchased a cargo from Europe for a nearer shipment date, paying $290/mt CFR for HMS I/II 80:20 and $300/mt CFR for bonus grade.
It is worth mentioning that there is information in the market regarding a scrap sale from Venezuela to Turkey’s Izmir region for 25,000 mt of HMS I/II 80:20 at $290/mt CFR.
