Stable prices recorded in European scrap deals in Turkey

Monday, 26 October 2020 14:30:02 (GMT+3)   |   Istanbul

After the ex-Baltic scrap transaction published by SteelOrbis earlier today, October 26, two ex-Europe scrap bookings have also been disclosed to the market.

A Turkish mill in the Black Sea region has concluded an ex-UK scrap booking for 17,000 mt of HMS I/II 80:20 scrap at $285/mt CFR. The cargo consists only of the grade in question.

Also, an Iskenderun-based Turkish steelmaker has concluded another ex-UK deal solely for HMS I/II 80:20 scrap, at $285/mt CFR Turkey. Prior to these transactions, SteelOrbis’ daily price for European prime grade scrap was in the range of $285-287/mt CFR.

The increasing number of Covid-19 cases in European countries is reportedly encouraging suppliers to sell their cargoes before any possible second lockdown measures - such as are now in effect in several parts of Europe, for example in northern England and also in Ireland. Measures have also been implemented in Belgium, France and the Netherlands, which have not helped to boost sentiment. Lastly, Spain began its first nationwide curfew on Sunday, October 25, after the government had declared a state of emergency to be held for an initial 15 days.

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