Turkish import scrap market is closing October with a lively pace and mills continue to conclude bookings.
SteelOrbis has learned that an Iskenderun-based mill has bought a cargo from St. Petersburg for 9,000 mt of HMS I/II 80:20 scrap at $292.5/mt CFR, 8,000mt of shredded scrap at $297.5/mt CFR and 4,000 mt of bonus grade scrap at $302.5/mt CFR for early December shipment.
Also there is a rumor of an Izmir-based steelmaker purchasing an ex-Baltic cargo with HMS I/II 80:20 scrap at $292.75/mt CFR Turkey for December shipments, but this deal has not been confirmed by the buyer or the seller at the time of publication. As a result, SteelOrbis’ daily price for ex-Baltic benchmark HMS I/II 80:20 scrap is still in the range of $292.5-293.5/mt CFR Turkey.
Market sources expect a firm trend in import scrap market for some time, while they also voice there is some room for quotations to move up slightly. Steelmakers have already started purchases for December shipments and Turkey’s bookings for November shipments are almost completed. Despite the risk of a worse second wave in the Covid-19 spread combining with the flu season, SteelOrbis observes that market players are not worried about disruptions this time. The depreciation of the Turkish lira against the valuable currencies continue to cause problems for all sides. From yesterday’s TRY 8.16 to a dollar level, lira has lost strength again and is not at TRY 8.28 to a dollar.