While Turkey’s import scrap market has remained quiet in a holiday mood, the sideways movement of the general price range has also been maintained. Price decline recorded in the Baltic side last week has also been corrected.
An Iskenderun-based producer concluded a deal yesterday from the US for HM SI/II 80:20 scrap at $347/mt CFR, shredded and bonus grades at $367/mt CFR. As a result, ex-US scrap quotations have remained stable since July 9.
Additionally, according to market sources, a Marmara-based producer has concluded an ex-Finland booking for HMS I/II 80:20 scrap at $343-344/mt CFR. On July 10, an ex-Gdansk booking was reported by SteelOrbis at $340/mt CFR. As a result, ex-Baltic benchmark scrap prices have returned to $343-344/mt CFR, moving up from the lower end.
Meanwhile, European scrap export yards are still paying €250/mt DAP for collection. As Europe is in a deep holiday mood, trade is sluggish. A Germany-based source said today that local prices in the country have already declined by €10-20/mt. The depreciation of the euro against the US dollar may give some room to the European scrap suppliers, though it is not much. Also, it cannot be fully said the volatility of the euro-dollar rate has ended for good. As of today, July 17, 12 mm rebar spot prices in Turkey at $528-544/mt, ex-warehouse, depending on the region, at an exchange rate of $1 = TRY 40,28. The official rebar prices in the Marmara and Izmir regions vary at $530-560/mt ex-works, including Icdas A.S.’s prices, stable as compared to July 14, while the workable rebar prices in these regions vary at $530-550/mt ex-works, up by $5/mt over the same period, for cash payment only.
