As import scrap prices in Turkey maintain their strength over the past week, deep and short sea quotations have followed uptrends.
SteelOrbis has learned that HMS I/II 80:20 scrap was bought from Bulgaria and Adriatic at $440-445/mt CFR Marmara in the first half of this week, while more recent deals have been concluded from Romania to Marmara-based mills were closed in the range of $453-454/mt CFR for around 7,000 mt of HMS I/II 80:20 scrap. As Christmas holiday has begun today, December 25, the market has quietened, though market players do not expect a decrease in prices after the holiday season.
Meanwhile, an ex-Rostov deal was heard in the market to Turkey’s Bartin region for 10,000 mt of A3 grade scrap this week, with the price being at $470/mt CFR. This information was not confirmed by the seller or the buyer at the time of publication.
On the other hand, there were sales from Israel to Iskenderun and Nemrut Bay at $410/mt CIF and $430/mt CIF this week, respectively. Market players state that the holiday season will not have a huge impact on the Cypriot ad Israeli sellers, but the general silence in the market may cause them to wait. One supplier in the region suggests that the new targeted price levels would be closer to $435/mt CIF Iskenderun and $445/mt CIF Nemrut Bay.
The firmness of international scrap prices is expected to continue in the coming days, while some players even think that this firm stance would be maintained in the first quarter of the coming year. There is a potential of correction in prices, some think, adding that this correction would not cause a dive in quotations. Meanwhile, holiday season is also expected to result in an inactive period for the deep sea segment.