Another ex-Baltic deal has been disclosed to the market today, November 27, with prices indicating a small increase.
An Izmir-based mill has concluded an ex-Latvia booking for a cargo consisting of 25,000 mt of HMS I/II 80:20 scrap at $350.5/mt CFR and 7,000 mt of bonus grade scrap at $360.5/mt CFR, for January shipment. Prior to this transaction, the most recent ex-Baltic deals were closed in the range of $345-350/mt CFR for HMS I/II 80:20 scrap.
As the positive sentiment in the import scrap market in Turkey continues, ex-Baltic prime grade scrap prices are still expected to move up in the next deals to around $355/mt CFR Turkey. Meanwhile, a market source stated that US-based suppliers have concluded many sales to nearby countries such as Brazil, Mexico and Peru at high price levels, and so their allocation for Turkey may be lower than usual for January shipments.
