Having reported some ex-US deals yesterday, July 14, SteelOrbis has learned new ex-US deals closed at higher price levels.
An Iskenderun-based mill concluded an ex-US scrap booking yesterday for 15,000 mt HMS I/II 90:10 scrap and 15,000 mt of shredded scrap at the average price level of $262.5/mt CFR, with the latest date of shipment on September 10. In light of this information, the ex-US benchmark HMS I/II 80:20 scrap is estimated to be $258.5/mt CFR Turkey, which is $1.5-2.5/mt higher than the previous transactions reported yesterday.
There is also a rumor about a Marmara-based steelmaker closing another ex-US deal, and the HMS I/II 80:20 scrap price in this purchase is reportedly at $258.5/mt CFR. However, the details of this deal is not disclosed to the market yet, and the booking is not confirmed by the buyer or the seller at the time of publication.
As mentioned before, deep sea scrap prices are moving up gradually as Turkish mills restarted their purchases. On the other hand, some sources state that mills show some resistance to higher levels. More bookings are expected to be heard in the current week.
