According to market sources, a fresh scrap transaction from the leading US-based supplier has been recently closed to Turkey. A Marmara region-based steel producer has purchased a total of 32,000 mt of scrap, with HMS I/II 80:20 priced at $226/mt CFR, shredded at $231/mt CFR and bonus grade at $236/mt CFR. The cargo will be shipped in November.
Market players report a lot of scrap suppliers are being active in giving offers to Turkey, from the Baltic region in particular. Accordingly, some more transactions could be disclosed shortly. However, although mills seem to be accepting the current offer levels for scrap in order to cover some missing stocks, the situation on the finished steel side has not yet improved. Short sea scrap suppliers are largely inactive this week due to a lack of allocation, following previously concluded deals, SteelOrbis understands.