More deep-sea scrap deals have been recently disclosed in Turkey. An Izmir region-based mill has agreed to purchase a cargo from the US at $280/mt CFR for HMS I/II 80:20, $285/mt CFR for shredded and $290/mt CFR for bonus grade. The lot will be shipped on April 5, SteelOrbis has learned. As a result, the ex-US HMS I/II 80:20 benchmark inched up by $0.5/mt compared to the previous transaction.
In addition, according to sources, an Iskenderun region-based steel producer has recently booked 17,500 mt of HMS I/II 75:25 and 17,500 mt of bonus scrap from Belgium at the average price of $284/mt CFR. The price for HMS I/II 75:25 is estimated at around $275/mt CFR, while the price for HMS I/II 80:20 according to this sale is supposed to be at $280/mt CFR or slightly above. In the meantime, the latest deal from Belgium was sealed at $276/mt CFR, as SteelOrbis reported earlier. “This cargo will be shipped in the first half of March, so it can be considered as prompt. We need to see more ex-EU deals,” a trader said.
