SteelMint learned from market participants that imported scrap offers to Turkey have slightly inched up in recent deep-sea cargo bookings concluded in last few days. The prices had stood stable for the last couple of weeks with the buying activities had remained on the slower side, however, with the upcoming winter holidays for European and North American recycling yards, buyers are now expected to restock at slightly higher prices in the coming weeks for January shipments.
In recent deal reported, a Marmara region-based steelmaker booked a bulk vessel of 35,000 MT cargo from Baltic origin supplier, comprising of 25,000 MT of HMS (75:25), 5,000 MT of Shredded and 5,000 MT of mixed HMS 1 & P&S at an average price of USD 262.50/MT, CFR Turkey. The HMS 1&2 (80:20) price from the Baltic origin is normalized to USD 263.50/MT CFR Turkey, while the cargo’s shipment is expected during the first half of January 2020.
Prior to this, at the end of the previous week, an east Marmara region-based steelmaker concluded a deal of HMS (80:20) from European origin scrap recycling unit at USD 261/MT CFR with a prompt shipment in first half of December 2019.
As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has slightly up by USD 3/MT and stood at USD 266/MT, CFR Turkey, against USD 263/MT CFR in last week’s report, while the assessment of European origin HMS 1&2 (80:20) now stands at around USD 261/MT, CFR Turkey.
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