By the end of this week, information about two deep sea scrap purchases, concluded by steel producers in Turkey’s Iskenderun region, has been disclosed to the market. Following the earlier reported sales from the EU, this time a slight upward price movement has been fixed in the transactions from the Baltic region, while a deal from the US has more or less confirmed the previous price estimation.
Particularly, an average price of $410/mt CFR Iskenderun has been fixed for 20,000 mt of shredded scrap and 10,000 mt bonus grade, with the ex-US cargo is to be shipped in early August. The evaluated HMS I/II 80:20 price level is at $390/mt CFR while the previous estimated range in view of ex-EU deals stood at $392-393/mt CFR. However, there is information about two more ex-US deals at $391/mt and $392/mt CFR for base quality, which have not yet been confirmed.
In addition, another mill from the Iskenderun region has booked a scrap lot from Latvia at $389.5/mt CFR for 23,000 mt of HMS I/II 80:20 and $409.5/mt CFR for 1,000 mt of bonus grade material. As a result, the ex-Baltic reference price has moved up by $4/mt on average.
In the short sea segment, fresh HMS I/II 80:20 scrap deals from Romania have been closed at $372/mt and $375/mt CFR to the Marmara region, up by $7-10/mt from the previous transaction. In addition, a small ex-Lebanon HMS I/II 80:20 cargo has been sold at $360/mt CFR.