Another ex-Baltic scrap booking has been disclosed to the Turkish market and it indicates a significant price rise.
SteelOrbis has learned that an Iskenderun-based mills has concluded an ex-St. Petersburg transaction for 21,000 mt of HMS I/II 80:20 scrap at $265/mt CFR, 8,000 mt of bonus grade scrap at $275/mt CFR and 1,000 mt of rail scrap at $280/mt CFR, with the latest shipment date of July 20. The previous ex-Baltic HMSM I/II 80:20 scrap was bought at $260/mt CFR Turkey.
There is still a positive mood in the Turkish import scrap market as deep sea scrap bookings continue. While at the beginning of the month the levels of $270/mt CFR for HMS I/II 80:20 scrap was considered to be a far-fetched idea for July shipments, now market players are voicing a possibility that quotations may reach to those levels. Import scrap quotations are supported by the liveliness observed in the local Turkish finished steel market where prices are also rising. Meanwhile, the ongoing lack of supply on the domestic scrap market is another factor positively influencing the import side.
