As Turkey’s deep sea scrap bookings have stopped once again after the deals disclosed during SteelOrbis Spring 2022 Conference & 86th IREPAS Meeting held in Istanbul on May 29-31, Turkish mills are now buying short sea scrap instead.
Over the current week, at least six deals have been heard from Romania, totaling approximately 18,000 mt of HMS I/II 80:20 scrap in deals closed in the range of $375-380/mt CFR Turkey. Most of the purchases have been done by Marmara-based mills, SteelOrbis has learned. “Some suppliers in the Black Sea region had vessels booked, which forced them to sell for prompt shipments,” a market player commented. On the other hand, some Romanian scrap suppliers have reported that it is now hard to find available vessels from Romania to Turkey.
Meanwhile, an ex-Cyprus HMS I/II 75:25 scrap cargo was sold to Iskenderun at $365/mt CIF yesterday, June 8. “Buyers have no appetite for short sea cargoes either, so bids are very low,” a supplier commented. It is also observed that some suppliers are accepting lower price levels due to their expectations of a further decrease in Turkey’s import scrap market.
