The firm trend of Turkey’s import scrap market continues with the new ex-EU booking heard in the market. Market players state that higher levels may be seen in the market in the coming round of deals, with more bookings expected to be heard this week.
SteelOrbis has learned that an ex-Canada deal has been closed by a Marmara-based mill for 35,000 mt of HMS I/II 95:5 scrap and 15,000 mt of shredded scrap at the average price of $385/mt CFR. The cargo is believed to be for shipment in late October. The information on hand indicates that ex-US HMS I/II 80:20 scrap is standing at $365-370/mt CFR, $9-14/mt higher than the previous levels.
Another ex-Belgium deal was closed at $360/mt CFR for HMS I/II 80:20 scrap, though no further information has been shared about the deal. According to market sources, the cargo is a mixed one with an average price of $370/mt CFR. This figure is significantly higher compared to the previous ex-EU deal done at $344/mt CFR.
In addition, it has been disclosed that an ex-Italy booking was done last week by an Izmir-based producer for 2,000 mt of HMS I/II 85:15 scrap at $362/mt CFR and 2,000 mt of P&S grade scrap at $382/mt CFR.
As Turkish mills are still making inquiries for deep and short sea scrap, sellers are in no rush to make commitments. The collection prices at EU ports have reached €320/mt for HMS I/II 70:30, while E3 grade scrap collection prices of some export yards are now at €330/mt. A European scrap supplier commented, “The next price level for Europe origin HMS I/II 80:20 scrap would be closer to $365s/mt CFR Turkey, maybe higher.” SteelOrbis hears that European suppliers are targeting $370s/mt CFR. “The problem is that there are not enough deep sea cargoes in the market right now,” a SteelOrbis source stated.
Meanwhile, there are some ex-Israeli HSM I/II 75:25 scrap bookings done in the Iskenderun region in the range of $335-340/mt CFR. Market sources believe that $350s/mt CFR from the Mediterranean Sea is possible. Short sea scrap demand is observed to be lively, though sellers are in no rush to conclude new sales due to their expectations of a further increase in prices.
