With Turkish mills mostly remaining interested in the short sea scrap imports, the suppliers managed to insist on higher prices.
According to the sources, an Izmir region-based mill has closed a deal for 3,000 mt of HMS I/II 80:20 scrap ex-Adriatic at $229/mt CFR two days ago. Another sale from the same destination was reported as freshly fixed for 10,000-12,000 mt of HMS I/II 80:20 at $232/mt CFR. In addition, a Marmara region-based mill booked 3,000 mt of ex-Romania scrap at $235/mt CFR. Russia has also been active in the Turkish scrap import market. Sources say that an HMS I/II 90:10 was sold at $240/mt CFR.
As a result, the Russia’s scrap prices indicated $5-6/mt rise over the week, while the rest of the short sea suppliers managed to get $2-6/mt higher levels. So far this week around 20,000-25,000 mt were booked from the short sea to Turkey, more deals might follow, SteelOrbis understands.