Today, June 10, an ex-Canada scrap cargo concluded at an increased price level has been disclosed in Turkey’s import scrap market.
SteelOrbis has learned that an Iskenderun-based Turkish steelmaker has bought the cargo in question consisting of 9,500 mt of HMS I/II 95:5 scrap, 7,500 mt of rail scrap and 12,000 mt of P&S grade scrap at the overall average price level of $525/mt CFR. Amid the recently higher premiums, this information indicates that the HMS I/II 80:20 scrap price based on this deal stands at $509-510/mt CFR.
The previous ex-Canada deal in Turkey was done around April 12, and so the price change for this region is irrelevant for now, except that the higher price level will support the positive mood in Turkey’s import scrap market. As SteelOrbis mentioned yesterday, US-based suppliers are targeting around $530/mt CFR for Turkey. SteelOrbis’ estimation for ex-US HMS I/II 80:20 scrap is in the range of $507-512/mt CFR and will be kept in this range for now.