Following the one reported earlier today, May 28, another ex-US scrap booking has been disclosed to the market.
SteelOrbis has been informed that an Iskenderun-based producer has concluded an ex-US transaction for 20,000 mt of HMS I/II 90:10 scrap and 5,000 mt of shredded scrap at the average price of $256/mt CFR, with the latest shipment date of June 25. In light of the information in question, the HMS I/II 80:20 price is estimated to be at $252.5/mt CFR. Previous to this booking SteelOrbis’ ex-US HMS I/II 80:20 quotations were in the range of $250-253/mt CFR.
Deep sea scrap prices are observed to be maintaining their strength as they fluctuate in a narrow range. SteelOrbis reported earlier today that Turkish mills have almost completed their purchases for June shipments, and there is only room for a few more bookings. Generally, market sources surveyed by SteelOrbis believe that July will be a better month than June in terms of finished steel sales, while the market anticipates a gradual improvement with the easing of preventive measures against the Covid-19 spread, though everyone agrees that all depends on the virus.