The last ex-US scrap deals to Turkey recorded during the week ended February 17 were $283/mt for HMS I/II 80:20 scrap, $288/mt CFR for shredded scrap, and $293/mt CFR for bonus grade scrap. Sources tell SteelOrbis that such prices set the stage for further confidence in the international scrap markets. Additionally, the latest ex-EU and ex-Baltic scrap deals by Turkish mills have remained close to $281/mt CFR on HMS I/II 80:20, making it apparent that cheap alternatives are not readily available to Turkey from those destinations. According to sources, US export scrap offer prices to Turkey are presently at $285-295/mt CFR.
Import and domestic scrap prices in Turkey, Taiwan, Japan, India, Pakistan and elsewhere have increased since Turkey increased its scrap import prices this month.
At the end of week ended February 24, offers from the US East coast for containerized shredded scrap are being heard at $295-305/mt CFR Nhava Sheva (India). According to sources, Indian buyers have recently purchased small tonnages from the UK at $300/mt CFR Nhava making US pricing feasible despite the claims by Indian buyers that recent prices are too high. Additionally, sources state that Pakistan has been heard purchasing shredded at $305/mt CFR, though, although the source country for the deal was not disclosed. Compared to the ex-US scrap prices reported by SteelOrbis on February 21 of $285-295/mt CFR Nhava, the updated offers have increased by $10/mt.
On the West coast, US exporters have increased offer prices to Taiwan on containerized HMS I/II 80:20. Prices are now being heard at $265-270/mt CFR Taiwan, up $5/mt from earlier this week.