Turkey’s import scrap price is still moving down at a quick pace, while rumours abound in the market, with prices all over the board. Pessimistic sentiment prevails in the market, with more deals expected to be disclosed in the coming days.
SteelOrbis has learned that an ex-Finland deal was done by an Iskenderun-based producer for 10,000 mt of HMS I/II 80:20 scrap at $356/mt CFR, 13,000 mt of shredded scrap at $376/mt CFR and 2,000 mt of bonus grade scrap at $376/mt CFR, for October shipment. Ex-Baltic HMS I/II 80:20 scrap prices were at $363/mt CFR in the previous deal.
Also, an ex-UK booking has been done by a Izmir-based steel maker, with HMS I/II 80:20 scrap standing at $342/mt CFR. No further details about this deal have been shared by the time of publication. Previously, ex-EU HMS I/II 80:20 scrap was standing at $350-355/mt CFR.
Rumours of an average price of $335/mt CFR or $340/mt CFR for only HMS I/II 80:20 scrap in a deal to Turkey from the EU were directly denied by the buyer and the seller. As a result, SteelOrbis has adjusted its deep sea scrap prices to $342-356/mt CFR from the levels of $350-365/mt CFR. The collection prices in Antwerp and Amsterdam are at around €285-295/mt as of today, September 12. Some market players state that European buyers are not in a rush to purchase scrap, as they are planning halts or cuts in production due to the energy crisis in the continent. But this may not lead to a higher scrap volume for Turkey, as scrap flow is also slow to yards, and collection prices remain under downward pressure.
On the short sea side, silence prevails. Sellers in the Mediterranean region state that there is no reply from Iskenderun-based mills to their offers. SteelOrbis observes pressure to sell in the segment, while on the Black sea side sellers are still trying to keep their prices stable. “Collection costs are high for Bulgarian and Romanian suppliers, and so for now they are not bending much,” a source commented. However, with the rising pressure in the deep sea segment, SteelOrbis has revised its short sea reference price to $330-335/mt CFR.