Short sea scrap prices in Turkey have moved up week on week, while market players state that a further increase in quotations is expected.
In the current week, approximately 10,000 mt of HMS I/II 80:20 scrap from Romania and Bulgaria has been sold to Turkey’s Marmara and neighboring regions in the range of $283-285/mt CFR. Last week, short sea suppliers sold large tonnages of scrap of the same origin and grade to Marmara and Izmir at $282-284/mt CFR.
Russian suppliers are offering $300/mt CFR and above for HMS I/II 90:10 scrap to Turkey, reporting that demand in their local market is still very strong.
Meanwhile, a sale of HMS I/II 75:25 scrap has been concluded today, November 11, by a Mediterranean region-based supplier that deals from Cyprus and Israel to Iskenderun at $275/mt CIF. The previous deal from the region was concluded at $267/mt CIF Iskenderun.
Market sources state that sentiment in the short sea scrap segment is positive, especially after the deep sea deals disclosed to the market today, which indicated a significant price increase. While short sea scrap quotations are expected to move up, some estimate that they will hit $290/mt CFR Turkey in the short term.
