Turkey’s import scrap market seems to be at a crossroads with buyers and sellers negotiating but failing to set a price level for deep sea prime grade scrap, while some short sea deals have been closed.
SteelOrbis has learned that Romanian HMS I/II 80:20 scrap has been sold in the range of $452-460/mt CFR Turkey this week. In the previous week, the price for the same grade was standing at $454-457/mt CFR Turkey. While the price range has widened, the average price level has almost remained stable. Market players state that some mills are trying to book short sea scrap to balance their inventories. On the other hand, no spot cargoes in the Black Sea segment are left and sellers are in no rush to conclude new sales amid the absence of Russia and Ukraine, SteelOrbis understands.
Meanwhile, a cargo of HMS I/II 75:25 scrap has been sold at $437/mt CIF Iskenderun. Turkish buyers’ current price ideas for Israel origin HMS I/II 75:25 scrap are standing at $435/mt CIF Iskenderun. “Producers are telling us that their finished steel sales are not as high as they expected,” one seller stated. As a result, they are not willing to accept higher price levels for now.
