New deep sea scrap sales have been reported in Turkey, bringing some more clarity to the general pricing in the market.
An ex-US scrap deal has been concluded in Turkey’s İzmir region, with the cargo consisting of 14,000 mt of HMS I/II 80:20 scrap at $275/mt CFR, 16,000 mt of shredded scrap at $280/mt CFR and 2,000 mt of P&S scrap at $285/mt CFR. The cargo in question will be loaded on April 20. The previous ex-US deal, reported by SteelOrbis three weeks back, was concluded at $280/mt CFR for HMS I/II 80:20 scrap grade, for shipment on April 5.
In the meantime, another ex-Baltic scrap cargo for April shipment was sold to the Izmir region with the benchmark price being in line with the sale reported yesterday, March 12. A Lithuania-based seller sold HMS I/II 80:20 scrap at $268/mt CFR and bonus scrap at $278/mt CFR.
As a result, SteelOrbis understands that the future trend of the Turkish import scrap market is getting clearer. More deals are expected to be heard in the next week, though the uncertainties regarding the coronavirus, which has now been defined as a pandemic by the World Health Organisation (WTO), still exist in the market.
