HMS I/II 80:20 scrap ex-US 277.75$/mt CFR Nemrut HMS I/II 80:20 scrap ex-UK 276.75$/mt CFR Nemrut HMS I/II 70:30 scrap ex-UK 271$/mt CFR Nemrut A3 grade scrap ex-Baltic Sea (30 percent of cargo is bonus grade and the cargo includes shredded scrap) 280$/mt CFR NemrutOffers given by suppliers of A3 grade scrap ex-Black Sea are at levels of $275/mt CFR Turkish ports and above. However, no bookings were reported to have been concluded for huge-tonnage cargoes. Following these purchases, the scrap market has gained in tranquility this week. Most of the buyers, who are not currently active in purchases, expect prices to decline with their absence in the market. The inactivity in the market does not seem to have caused a decline in prices yet. However, the absence of Turkish mills in the market for a few weeks will certainly put pressure on prices. The only question mark is over the extent of the drop in prices. In addition, we have to keep in mind that freight prices are very high.
Scrap markets on hold
Prices are indicating a horizontal trend this week in the Turkish scrap market, following the low market activity of last week when few bookings were concluded. The Turkish scrap market started last week in a tranquil state. A number of scrap bookings were concluded, however, towards the end of the week. The price levels of these bookings were as follows: