Turkish bids for import scrap move down again

Friday, 27 September 2019 17:50:41 (GMT+3)   |   Istanbul

Turkish mills have revealed somewhat stronger interest in scrap imports this week and are still in the market for new purchases. However, their bids for HMS I/II 80:20 are again lower than sellers’ expectations.

In particular, according to market sources, Turkish buyers are ready to pay $220/mt CFR for ex-US scrap, while suppliers’ prices are indicatively at $225-230/mt CFR levels, according to the recent deals. Market players say that Canada has a couple of unsold cargoes which may affect the market in the near future.

Bids for Baltic scrap from some Turkish companies have been reported at $216-218/mt CFR, versus rare offers at $220/mt CFR. Turkish mills’ price idea for ex-EU scrap is close to $215-217/mt CFR, while one transaction is rumoured in the market as having been concluded at $218/mt CFR.

Sources report that Turkish mills are nowadays seeking to buy short sea scrap and are ready to deal at the recent transaction price level of $215/mt CFR for HMS I/II 80:20. However, they require the cargoes for delivery within 30 days, while sellers from Romania, Bulgaria and the Adriatic region are in the market to sell for November deliveries. As a result, no fresh transactions have been reported.

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