As short sea scrap prices continue to move up, market sources state that demand for short sea scrap in Turkey is not as lively as the demand observed on the deep sea side.
SteelOrbis has been informed that approximately 15,000-20,000 mt of HMS I/II 80:20 scrap from Romania and the Adriatic region have been sold this week to Turkey’s Marmara and nearby regions in the range of $432-436/mt CFR. As short sea suppliers are not receiving so much demand from Turkey, they are willing to wait for next week to conclude sales due to their expectations of a rise in quotations.
Meanwhile, offers from Cyprus and Israel to Iskenderun for HMS I/II 75:25 scrap have been in the range of $415-418/mt CIF Iskenderun, though no new sale at these levels have been heard. Market players state that their targeted levels for next week are at $420/mt CIF Iskenderun and they are unwilling to conclude deals at lower levels amid the uptrend of the import scrap market in Turkey.
According to market sources, Turkish mills are mostly interested in deep sea scrap purchases. As a result, trade on the short sea scrap side may improve after Turkish producers buy some of their needs from deep sea scrap suppliers.
