Turkey’s short sea scrap purchase prices have increased during the current week as observed in new deals.
Deals for a total of 8,000 mt of HMS I/II 80:20 scrap from Romania and the Adriatic region were closed in the range of $343-346/mt CFR Marmara and Izmir. As a result, short sea scrap quotations have increased from $332.5/mt CFR on average from the previous bookings.
Meanwhile, a Russian cargo consisting of 5,000 mt of HMS I/II 85:15 scrap was sold near to the Marmara region at $360/mt CFR. Market players state that offers from Russia are currently higher than this level.
Cypriot and Israeli suppliers have concluded a sale for HMS I/II 75:25 scrap at $339/mt CFR Nemrut, while they are currently targeting $340/mt CIF Iskenderun and $345/mt CFR Nemrut for the coming round of sales. The previous level targeted by these suppliers for this grade was $330/mt CIF Iskenderun.
The uptrend in the short sea segment as well as the on the deep sea side is expected to continue. While there have been reports of some deep sea scrap bookings in the market, there are no confirmed details about the cargoes yet. However, market players consider these deals to have actually been done and estimate the deep sea HMS I/II 80:20 scrap price levels to be at $360/mt CFR at least. Also, some have voiced the $370/mt CFR level which they believe can be reached next week in new deals. SteelOrbis has learned that US-based suppliers are seeking $370/mt CFR Turkey and above for the time being.
