Turkey: Imported Scrap Prices Hit USD 300/MT

Prices have moved up by USD 40/MT in a month's time amid tight availability from yards during winters.

Amid the incessant rising trend in the global scrap prices, offers of imported scrap to Turkey continued to rise further every day. After rising by USD 8-9/MT is the previous few days, another couple of deep-seas cargo bookings were concluded today at prices up by another USD 3/MT with buyers remaining particularly active for restocking this week.

Among the latest deals concluded, a West Marmara region based steelmaker in Turkey concluded a bulk vessel from the USA based scrap recycling yard booking a mixed cargo comprising of HMS 1&2 (80:20) at USD 300/MT, CFR, Shredded at USD 305/MT and bonus at USD 310 /MT, CFR Turkey.

Another Baltic origin yard concluded a composite cargo comprising of HMS 1&2 (80:20) at USD 298/MT and Bonus Scrap at USD 308/MT CFR Turkey.

Prior to this, earlier this week another Turkish steelmaker from West Marmara concluded a bulk vessel from a recycler in the USA, with 40,000 MT of mixed cargo, comprising of HMS 1&2 (80:20) at USD 297/MT, CFR, Shredded at USD 302/MT and bonus at USD 307 /MT, CFR Turkey.

After normalizing today’s deals, SteelMint's assessment for US-origin HMS (80:20) now stands at USD 300/MT, CFR Turkey, further up by USD 3/MT against yesterday, while having increased USD 10-11/MT since the opening of the week. The assessment from Europe presently stands at USD 295/MT CFR.

Turkish Finished long export offers strengthened further, with Rebar offers increasing by another 2% this week and presently standing at USD 435-440/MT FoB.