Turkey’s ex-US scrap procurement prices have remained relatively stable in the new transaction disclosed to the market today, December 6.
SteelOrbis has learned that the deal was done by a Marmara-based producer for HMS I/II 80:20 scrap at $382/mt CFR, with shredded and bonus grades standing at $402/mt CFR. The cargo is believed to be for shipment in January. The previous deal from the US was closed at $383/mt CFR for benchmark HMS I/II 80:20 scrap.
Also, there is an ex-Venezuela booking done by an Iskenderun-based producer, closed at $385/mt CFR for the HMS I/II 90:10 grade. The cargo is prompt shipment.
Some market players state their expectations of a slowdown in activity at around $380-385/mt CFR for premium grade scrap these days, as the local Turkish rebar market is also slowing down a bit. “The increases in the rebar market seem to need more time to be accepted with every upward movement,” a trader commented.
Turkey’s short sea scrap prices have been revised to $360-365/mt CFR for HMS I/II 80:20 scrap from Romania and Bulgaria. The workable levels for ex-Israel HMS I/II 75:25 scrap are considered to be around $345/mt CIF.
