Turkey import scrap market cautiously optimistic

Friday, 11 October 2019 17:25:51 (GMT+3)   |   Istanbul
       

Upward expectations prevail in Turkey’s import scrap market, following the increase in the US sale. Mills are showing some considerable demand for the raw material, however the market still lacks fresh sales to prove the uptrend is sustainable. In the meantime, scrap offers to Turkey increased.

The ex-Baltic HMS I/ II 80:20 is estimated at $234-235/mt CFR Turkey with one sale rumored as closed at $235/mt CFR. European offers for the same scrap grade are reported at $230-232/mt CFR; the allocation is said to be limited due to the slow collection after the sharp drop in prices. On the other hand, the EU scrap sellers might be more eager to sell to exports as the domestic steel sales in the EU have been slow for a while. The US' targets for HMS I/ II 80:20 are at around $234-235/mt CFR versus $233/mt CFR in the latest sale.

Business activity in the short sea segment has increased. Romania has reportedly sold HMS I/ II 80:20 at $228-229/mt CFR. In addition, SteelOrbis has confirmed that an Adriatic scrap supplier has sold to a Turkish mill at $227/ mt for the same grade. The cargoes will be shipped at November. A Russian supplier has also concluded deals with Turkish mills at $231/mt CFR for A3 scrap, up by $2/mt since earlier this week. These deals were made to Izmir and Marmara regions and the total tonnage is around 15,000-20,000 mt.

Market players are hopeful for some positive developments in the scrap segment. Some sales along with some good demand coming from Turkey, the increased number of orders from Egypt, probably as a result of the safeguard decision, might also support the pricing. However, most sources agree that the overall scrap situation remains shaky for now.


Similar articles

Mexican domestic scrap prices

28 Mar | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 13, 2024

28 Mar | Scrap & Raw Materials

Turkey’s deep sea scrap prices stabilize at $385-390/mt CFR

28 Mar | Scrap & Raw Materials

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials

Baltic countries and Czech Republic seek EU ban on ex-Russia scrap imports

27 Mar | Steel News