Two deep sea scrap deals have been disclosed to the market today, July 29, one from western Europe and one from the Baltic region.
SteelOrbis has learned that an Iskenderun-based Turkish mill has concluded a deal from Netherlands for HMS I/II 80:20 scrap at $273/mt CFR and bonus grade scrap at $283/mt CFR, for early September shipment. SteelOrbis’ estimation for the ex-Europe HMS I/II 80:20 scrap price was at around $265-267/mt CFR before this deal.
Also, an Izmir-based producer has bought an ex-Baltic cargo consisting of HMS I/II 80:20 scrap at $275/mt CFR and bonus grade scrap at $285/mt CFR, for September shipment. Prior to these deals, the price of prime grade scrap from the Baltic region was at $270/mt CFR Turkey.
As a result, deep sea prime grade scrap quotations in Turkey have hit the level of $275/mt CFR, which had not been expected at the beginning of the month. Turkish mills have continued their deep sea scrap purchases before the Feast of Sacrifice holiday as some anticipated. Market sources report that ex-US scrap offers are at around $280-285/mt CFR Turkey, while Baltic region-based suppliers are now aiming for $280-285/mt CFR Turkey.
