Steel producers in Turkey remain interested in scrap purchases, though their activity is slightly down as compared to last Friday. A Marmara region-based mill has recently booked two deep sea cargoes without any sharp change in prices.
One of the cargoes was sold from the US and included 15,000 mt of HMS I/II 90:10 scrap at $262/mt CFR, 22,000 mt of shredded scrap at $265/mt CFR and 3,000 mt of bonus grade at $270/mt CFR. The lot will be shipped in December. According to the sale, the HMS I/II 80:20 scrap price is estimated at $260/mt CFR, in line with the previous ex-US bookings for the mentioned grade.
The second deal was closed for a scrap cargo originating from Poland. It consists of 25,000 mt of HMS I/II 80:20 at $262/mt CFR and 5,000 mt of bonus grade at $272/mt CFR. The cargo will be shipped in November, sources report. In the previous ex-Baltic deal to Turkey, HMS I/II 80:20 scrap was priced at $259.5/mt CFR, but for December shipment, as SteelOrbis reported earlier.
As a result, the prices for steel scrap in Turkey remain firm, though suppliers find it challenging to apply further increase in deals. The Turkish mills are showing rather strong resistance, taking into account their still insufficient finished steel sales, in the rebar segment specifically.