An ex-US scrap cargo has finally been booked to Turkey after a long break. A Marmara region-based producer has sealed the deal for HMS I/II 80:20 at $276.5/mt CFR, shredded at $281.5/mt CFR and for bonus grade scrap at $286.5/mt CFR. As a result, the ex-US HMS I/II 80:20 scrap benchmark has indicated a significant decline as earlier suppliers were refusing to go below $280-285/mt CFR. According to market sources, more deep sea scrap suppliers are now in the market to sell, from the US and Canada specifically, and so new deals may be heard shortly.
In addition, a scrap sale from the UK to Turkey was disclosed to the market at the end of last week. An Iskenderun-based mill purchased 16,000 mt of HMS I/II 80:20 at $272.5/mt CFR and 4,000 mt of shredded material at $282.5/mt CFR. The cargo will be shipped at the end of September. With the mentioned deal, the price for the ex-EU HMS I/II 80:20 scrap decreased by $1.5/mt compared to the previous transaction.
