Prices for all grades of imported scrap in Turkey have hiked by USD 9/MT on W-o-W basis this has strengthened expectations for further hike in prices amid tightened supply for imported scrap in Dec’17.
Imported ferrous scrap prices in Turkey have lifted up further on recent trade deals confirmed by steel mills for early Jan’18 bookings. Prices have climbed by around USD 9/MT against reported last.
Current assessment of USA origin HMS 1&2 (80:20) stands at USD 323/MT, CFR Turkey. Last week prices were hovering around USD 314/MT, CFR.
Present price assessment for Shredded scrap is around USD 328/MT, CFR Turkey. Price reference index for premium Bonus scrap materials is now at USD 333/MT, CFR Turkey.
In a deal concluded Hercules a seller from Baltic region sold scrap to Turkish buyer ekinciler with prices as HMS 1&2(80:20) at USD 323/MT while Shredded and Bonus at USD 328/MT and USD 333/MT, CFR Turkey respectively.
This week scrap market opened in Turkey with quite high buying interest from buyers end as compared to last week. Sentiments were dull in last week with limited trade deal reported. However, Now Turkish buyers are looking further for rest January bookings and market is expected to remain firm in demand also amid rising scrap collecting costs prices to inch up further in near terms.- shared a market participant.
Turkey Rebar export offers moved up – Rebar export offers from Turkey have increased by USD 10-12 on W-o-W basis prices are lifted from USD 510-520/MT, Fob last week to USD 520-530/MT, Fob Turkey.
Trade-wise :
1. In a recent deal reported, one of the leading steel maker in Iskenderun region in Turkey fetched 33,000 MT Russian cargo. The cargo was sold for January shipments with HMS 1&2 (80:20) at USD 323/MT, Shredded and HMS 1&2 (90:10) at USD 328/MT and Bonus at USD 322/MT, CFR Turkey respectively.
2. Two deals concluded earlier for USA materials was separately sold to two different Marmara region based mills with HMS 1&2 (80:20) at USD 321/MT, CFR Turkey, Shredded at USD 326/MT and Bonus at USD 331/MT, CFR Turkey.
3. In another deal, an Izmir region based buyer lifted a whole 36,000 MT HMS 1&2 (80:20) cargo at USD 317/MT, CFR Turkey.
4. Another 10,000 MT HMS 1&2 (95:5) sold by Russian seller Ascor at USD 325/MT, CFR Turkey to Toscelik in Turkey for prompt shipment.
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