While the deal prices for import scrap have remained generally stable in Turkey this week, deep sea suppliers have increased their offer levels by $5/mt to $265/mt CFR for HMS I/II 80:20 material. Moreover, some US-based sellers are targeting $265-268/mt CFR Turkey for the mentioned grade.
As a result, the market players are currently trying to evaluate the current situation and further possible developments, while mills are resisting the new levels, SteelOrbis understands. In addition, Turkey’s appetite for the deep sea scrap cargoes has decreased since last week. As a result, in the coming days ex-EU, ex-Baltic and ex-US cargoes are expected to be sold at $260-265/mt CFR for HMS I/II 80:20.
On the other hand, Turkey’s demand for short sea cargoes remains lively. In the meantime, ex-Adriatic sellers reportedly have some problems with collection for December shipments. It is observed that suppliers in Romania are trying to increase their export offers due to higher collection costs and lively demand conditions. The market expects deals from the Adriatic and Romania to be closed at $253-255/mt CFR for HMS I/II 80:20, SteelOrbis understands.