Turkey’s import scrap market maintains a relatively stable trend with new deals from the US and the EU. The general price range remains narrow, but no downward potential is observed for now.
Today, another ex-US scrap booking was disclosed to the market, done by a Marmara-based producer for 21,000 mt of HMS I/II 80:20 scrap at $374/mt CFR, 19,000 mt of shredded scrap at $394/mt CFR and 5,000 mt of P&S grade scrap at $394/mt CFR.
Additionally, an ex-Netherlands deal is reportedly done by an Iskenderun-based producer for HMS I/II 80:20 scrap at $370/mt CFR and bonus grade scrap at $395/mt CFR. Although this deal is not confirmed by the buyer or the seller at the time of publication, this level is $5/mt higher than the previous ex-Belgium booking. SteelOrbis will revise its ex-EU scrap prices to $365-370/mt CFR.
Meanwhile, ex-Romania deals are done in the range of $346-348/mt CFR, indicating a decrease from $350/mt CFR. The pressure on short sea scrap is once again rising.
US domestic scrap market is expected to remain sideways with an upward tendency, while European scrap suppliers think domestic EU scrap prices will increase in the coming month. Independent from Turkish mills decision on their capacity utilization rates, the cost of scrap collection will remain strong and is not expected to give room for a decline. However, if Turkish mills decide to cut production in September as they have been voicing, their demand for scrap will be lower and may exert pressure on prices. For now, Turkish import scrap market is expected to remain sideways.
