Scrap from main deep sea regions reaches $300/mt CFR in Turkey

Friday, 13 December 2019 15:52:00 (GMT+3)   |   Istanbul
       

Import scrap demand has remained strong in Turkey and prices have continued to increase, as confirmed in three new deals. According to market sources, a supplier from the US has sold a cargo to a Turkish mill based in the Marmara region. The cargo included HMS I/II 80:20 at $300/mt CFR, shredded at $305/mt CFR and bonus grade at $305/mt CFR. After this deal, ex-US HMS I/II 80:20 scrap prices have added $3/mt compared to the previous deal. The same Turkish mill has bought a scrap cargo from the EU, consisting of 25,000 mt of HMS I/II 75:25, 5,000 mt of shredded and 5,000 mt of HMS I and bonus grade, for January shipment. The average deal price was $300/mt CFR. Market sources have assessed the HMS I/II 80:20 scrap price in this deal at the same level as in the ex-US contract, SteelOrbis has learned.

Another cargo from the Baltic region has been sold to another Marmara region-based Turkish mill based. The cargo includes HMS I/II 80:20 at $298/mt CFR and shredded at $308/mt CFR. The price has increased by $1/mt compared to the previous ex-Baltic deal. Market sources have told SteelOrbis that Turkish mills are continuing their negotiations with scrap suppliers and so the market may see higher price levels in new deals.

 


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