US scrap prices climb as expected, also pushing up European scrap prices

Scrap prices in the US domestic market have increased by about $75/mt this month, in line with expectations for an uptrend, and it has been heard that the US has started to import scrap from Europe. In the meantime, although early this week ex-US HMS I/II 80:20 prices in Turkey were at $410/mt CFR, there are no longer any offers at this price level.
 
On the other hand, a Turkish mill has concluded a scrap cargo booking from continental Europe, with the price of 20,000 mt of HMS I/II 70:30 standing at $375/mt CFR and 10,000 mt of HMS I and shredded scrap at $415/mt CFR. Last week, European HMS I/II 70:30 prices for Turkey were at $358/mt CFR.
 
In the meantime, another Turkish mill has booked ex-UK HMS I/II 80:20 scrap at $399/mt CFR.