Turkey’s import scrap market has continued its upward movement in new ex-Baltic and ex-US scrap transactions.
A Black Sea-based Turkish mill has concluded an ex-Denmark booking for a cargo consisting of 12,000 mt of HMS I/II 80:20 scrap, 6,000 mt of P&S grade scrap and 5,000 mt of busheling and oxy plate scrap at the average price of $476/mt CFR, for late February-early March shipment. According to this information, the HMS I/II 80:20 scrap price is estimated to be at $467-467.5/mt CFR Turkey. The benchmark grade in the previous ex-Baltic deal was at $450/mt CFR.
Meanwhile, an ex-US scrap deal was done by a Marmara-based mill, with HMS I/II 80:20 scrap standing at $464/mt CFR. No further details have been disclosed to the market about this deal at the time of publication.
The sentiment in the Turkish scrap market is still positive as Turkish mills are trying to maintain the volume of scrap flow, not just on the import side but also in the local market, by increasing prices. The approaching end-of-year holidays also contribute to the current concerns about scrap supply, which is already at low levels during the current time of lively international demand. Meanwhile, players in the local long steel market are waiting for the interest rate announcement by the Turkish Central Bank scheduled for December 24.
