Buyers and sellers in Turkey’s import scrap market prefer to watch market developments for now since the price trend according to the latest deals is not clear. However, some suppliers have decided to push up their prices to check the reaction, but the number of import offers remains very much limited. More and more players have become cautiously optimistic.
Sources report there is demand for short sea scrap from Turkish mills: however, most sellers are taking their time to offer. Indications for ex-Romania HMS I/II 80:20 scrap were reported at as high as $255-260/mt CFR, with some negotiations reported at around $250/mt CFR. The latest sale for scrap of the mentioned origin was fixed last week at $242/mt CFR for 5,000 mt. “It was a wrong timing for that sale,” a trader said. As SteelOrbis reported earlier, the deal was closed when the downward expectations were much stronger in the market.
A small sale has been fixed this week from Israel to Turkey’s Iskenderun region. A 1,500 mt batch of HMS I/II 75:25 has been sold at $240/mt CFR, SteelOrbis has learned.
In the deep sea segment, most scrap suppliers have refrained from offers, while some have voiced targets at up to $270/mt CFR and above, for ex-Baltic region HMS I/II 80:20 scrap specifically. One of the reasons is an improvement in local billet and rebar sales in Turkey, which is considered to be a strong supportive factor for now. The SteelOrbis daily price assessment for ex-US HMS I/II 80:20 remains unchanged at $262/mt CFR for now as no fresh deals have been disclosed.
