Upward trend supported by ex-Baltic scrap sale in Turkey

Import scrap prices from the Baltic region in Turkey have increased with the recent sale. According to the market sources, an Izmir region-based steel producer has made a purchase from Estonia. The cargo consists of 25,000 mt of HMS I/II 80:20 scrap at $234.75/mt CFR and 5,000 mt of bonus grade at $244.75/mt CFR; the tonnage will be shipped in November. As a result, the ex-Baltic scrap prices in Turkey increased by $12.75/mt as compared to the transaction, reported on September 26. Following this sale the Baltic region-based suppliers are not expected to go below $235/mt CFR in offers. “After this deal the market may see more deals at $235/mt CFR [for HMS I/II 80:20], from the USA as well,” a source said.