According to market sources, an ex-Libya HMS I/II 90:10 scrap cargo totaling 20,000 mt has been freshly sold to the Izmir region of Turkey at $245/mt CFR. The cargo will be shipped in December. Sources say that it is not common for Libya to supply such a sizeable lot, with Izmir and Iskenderun regions-based Turkish mills only making such purchases very rarely. “Libyan scrap quality is good but most Turkish mills prefer not to use it as it is collected in areas of military conflict,” a source mentioned.
In addition, a deep sea scrap sale from Denmark has been recently disclosed to the market in which HMS I/II 80:20 was priced at $261/mt CFR Marmara. Some sources comment that the cargo may also have contained bonus grade material, but this information was not confirmed by the time of publication. The transaction was closed last week and the cargo will be shipped in December. As a result, the ex-Baltic HMS I/II 80:20 price indication for Turkey remains stable.
Market players expect Turkish mills to start seeking January shipment scrap cargoes shortly. Scrap suppliers remain mostly bullish, while before starting their new round of purchases, they would like to gain a clearer picture of local scrap prices in European countries and the US.