In line with the rises observed on the deep sea side, short sea scrap quotations in Turkey have moved up throughout the current week.
From the beginning to the middle of the week, HMS I/II 80:20 scrap from Bulgaria, Romania and the Adriatic region has been bought in the range of $380-381/mt CFR Turkey via several deals. However, in the second half of the week, a Bulgarian deal has been closed at $387/mt CFR Turkey for the same grade, according to market sources. Currently, workable levels for HMS I/II 80:20 scrap from Romania and the Adriatic are considered to be at $390-395/mt CFR Turkey. It is observed that sellers are in no rush to conclude sales, as they want to monitor the deep sea scrap segment which has indicated sideways movement in past days in a number of ex-US bookings closed at $410/mt CFR for benchmark grade.
Meanwhile, Cypriot and Israeli sellers’ offers for HMS I/II 75:25 scrap are at $385/mt CIF Iskenderun, though this level has not been accepted by buyers. Market players believe that the workable level for this grade is at $375-380/mt CIF Iskenderun.