Two ex-Europe scrap deals have surfaced in Turkey’s import scrap market today, October 5, while one is reported to be a relatively older deal. The price levels in question are slightly higher than the price in the previous booking from the region, though no further rise in prices is expected in the short term.
SteelOrbis has learned that an ex-Belgium booking has been done by an Iskenderun-based producer, consisting of HMS I/II 80:20 scrap, shredded scrap and a mixture of HMS I and P&S grade scrap at the average level of $369/mt CFR. The total tonnage of the cargo is 40,000 mt, and some market sources report that the tonnage of premium grades totals 7,500 mt, but this information was not confirmed by the buyer or the seller. Despite the lack of confirmed details, market players think that the indications for benchmark HMS I/II 80:20 scrap based on this deal are at $365.5-366/mt CFR, very similar to the previous deal, which was concluded from France.
The older deal, transacted from France, was done by an Izmir-based producer at the end of September, for HMS I/II 80:20 scrap at $367/mt CFR and shredded scrap at $385/mt CFR. The total tonnage of the cargo is believed to be around 20,000 mt. Prior to these two deals, SteelOrbis’ ex-EU scrap price was at $364/mt CFR in a previous deal.
Market players are relatively silent ahead of the SteelOrbis & IREPAS conference due to be held in Monaco on October 9-12. Nevertheless, the names of US-based suppliers are now heard more frequently in the market, with their desired levels still in the range of $370-373/mt CFR for benchmark HMS I/II 80:20 scrap. Collection prices of some traditional EU-based scrap suppliers are in the range of €315-325/mt CFR. “The immediate needs of Turkish mills have been satisfied with their most recent bookings. They are seeking cargoes for November now and there seems to be a balance in the market as sellers are not in a rush to conclude sales either,” a source commented.
In the short sea segment, the workable levels for Romanian and Bulgarian HMS I/II 80:20 scrap are at $350-355/mt CFR Turkey, market sources report. There are not many offers from the Black Sea, while for Italian HMS I/II 80:20 scrap expectations are in the range of $360-361/mt CFR for future deals. The most recent ex-Israel deal for HMS I/II 75:25 scrap was closed at $345/mt CFR, but this is an old deal, and currently the maximum level for ex-Mediterranean (Israel and Lebanon) HMS I/II 75:25 scrap is considered to be at $350/mt CIF.
