Short sea scrap sellers wait for clearer market picture in Turkey

Tuesday, 05 November 2019 17:21:28 (GMT+3)   |   Istanbul

Short sea scrap suppliers to Turkey currently prefer to take a wait-and-see position in order to evaluate the market after the recent deep sea sales which were closed with a price increase.

At the end of last week, HMS I/II 80:20 scrap ex-Adriatic Sea was sold to Izmir at $241/mt CFR, up $3-4/mt compared to the previous deals. In addition, a Russian HMS I/II 90:10 cargo was sold to the Marmara region at $250/mt CFR.

Currently, short sea scrap suppliers are not in a rush to offer, but are trying to evaluate the market situation. Sources estimate the indicative offer levels from Romania at $245/mt CFR for HMS I/II 80:20, following the reported increase in collection prices in the country. Adriatic region-based sellers are said to be currently out of the market amid some supply allocation issues.

Meanwhile, HMS I/II 75:25 scrap has been on offer from Israel at $240/mt CFR Turkey, but this is not considered workable by the Turkish mills.

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