Price gap in latest scrap deals in Turkey remarkable

Friday, 17 August 2018 17:12:12 (GMT+3)   |   Istanbul
       

Having postponed their scrap bookings due to the ongoing depreciation of Turkish lira against the US dollar and US government’s additional duties on Turkish steel imports, and since they have ran short of scrap bookings for September shipments, Turkish mills have started to conclude import scrap deals before the Feast of Sacrifice holiday. However the differences between price levels of concluded deals are remarkable. A Turkish mills has made an ex-US scrap bookings for HMS I/II 80:20 scrap at $300/mt CFR, while another Turkish steel producer has concluded an ex-Baltic scrap deal for same grade at $317/mt CFR. Meanwhile, there are two ex-St. Petersburg scrap deals for HMS I/II 80:20 scrap heard today at $302-306/mt CFR. In addition, two ex-UK deals for HMS I/II 80:20 scrap has been concluded at $280-316/mt CFR, which has lowered the bottom end of the price range of imported scrap in Turkey significantly. Now, the gap between import scrap prices in Turkey has widened and import HMS I/II 80:20 scrap prices have started to range at $280-317/mt CFR Turkey.


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