As the second ex-US deal has surfaced in Turkey's import scrap market today, the benchmark scrap price has decreased sharply.
SteelOrbis has learned that the deal was done from Newark, US, to a Marmara-based Turkish mill for HMS I/II 80.20 scrap at $436/mt CFR and bonus grade scrap at $451/mt CFR, for October shipment. The booking was reportedly done on Friday last week. Prior to this booking, the HMS I/II 80.20 scrap price from the US was standing at $445-446/mt CFR Turkey.
As Turkish finished steel producers continue to struggle with a lack of exports, they are still successfully exerting pressure on scrap quotations. Following the ex-EU transactions done last week, the attention of Turkish producers has been turned to the US scrap market and the reply coming from there has been quick.
It is also observed that the short sea Romanian HMS I/II 80.20 scrap prices are standing in the range of $418-420/mt CFR in terms of sellers’ offers, while buyers are aiming for $414-416/mt CFR.
