Turkey: Imported Scrap Price Up by USD 5 in Recent Bookings

SteelMint learned from market participants that a flurry of new fresh deep sea cargo bookings have concluded recently at increased prices, as the tightness in supply and hike in collection prices with winters approaching, is ensuring the continued rise in global offers since last 4 weeks, with the market expecting further correction in coming weeks.

In latest deal reported, an Aegean-region based steelmaker in Turkey concluded a bulk vessel yesterday from a US based recycle yard, booking a mixed cargo comprising of HMS 1&2 (80:20) at USD 259/MT CFR, and bonus scrap at USD 269/MT CFR Turkey. The same steelmaker also booked another cargo from a different US-based supplier with HMS 1&2 (80:20) at USD 258.5/MT, Shredded at 263.5/MT and bonus at 268.5/MT CFR.

-- Another deal reported to a West Marmara based steel maker included a bulk vessel with mixed cargo of HMS 1&2 (80:20) at USD 258/MT, Degirmen scrap at USD 263/MT and Bonus at USD 268/MT CFR.

--Another prominent supplier from Europe sold a bulk vessel to a Mediterranean region based steel mill, with HMS 1&2 (80:20) at USD 254/MT, Shredded at 259/MT and bonus at USD 264/MT CFR Turkey.

Prior to this last week, a Mediterranean region-based steelmaker concluded a bulk vessel yesterday from a Netherlands based scrap yard, booking 25,000 MT of mixed cargo comprising of 22,500 MT of HMS 1&2 (80:20) at USD 248/MT CFR, and 2,500 MT of bonus at USD 258/MT CFR Turkey.

As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has now climbed up to USD 258.5/MT, CFR Turkey, rising by USD 5/MT, against last week’s closing. The assessment of European origin HMS 1&2 (80:20) now stands at around USD 253/MT, CFR Turkey.