The scrap markets, which were already quiet due to weak demand coming from Turkish mills, are now showing diverse trends under the influence of bad weather conditions and the recovery of the US dollar against the euro.
In ex-deep sea scrap transactions to Turkey concluded on January 31, ex-US HMS I/II 80:20 was booked at $440/mt CFR, remaining unchanged as compared to last week, while P&S scrap was booked at $450/mt CFR. Offers for ex-UK HMS I/II 80:20 to Turkey are currently standing at $430-435/mt CFR, while ex-Europe HMS I/II 70:30 is being offered at $418/mt CFR.
On the other hand, scrap collection activities have nearly ground to a halt due to heavy snowfalls. In the meantime, SteelOrbis has learned that an ex-Baltic mixed scrap cargo including A3 scrap and shredded scrap is offered to the Turkish market at $446-450/mt CFR.
It is thought that some scrap suppliers may issue lower offers as they have been unable to conclude any sales for quite a while now, while it is observed that mainstream price levels have not shown any significant changes as compared to last week.