After remaining silent during New Year holidays, Turkish mills have resumed booking scrap cargoes for Feb’20 shipments. Imported scrap offers to Turkey observed a marginal decline in the recent bulk cargo bookings concluded this week from Baltic and South Europe origins. However, no deals from the USA have yet been concluded, while only a few North American yards offering currently, with the offers being higher than buyer’s bids, as per market sources.
In recent deal reported, a Mediterranean region based steelmaker in Turkey booked a bulk vessel of 25,000 MT mixed cargo from a German scrap recycling yard, comprising of 5000 MT of HMS 1&2 (80:20) at USD 297/MT, CFR, and 20,000 MT of Shredded at around USD 305/MT CFR Turkey. The cargo shipment is expected in the first half of Feb’20.
Another deal concluded this week, in which a Denmark based scrap recycling company, sold a bulk vessel to steelmaker in Eastern Black Sea region, consisting of HMS 1&2 (80:20) at price of USD 303/MT CFR Turkey. Another Baltic origin supplier sold a composite cargo to a Marmara based mill with HMS 1&2 (75:25), Shredded, HMS1 and P&S at an average price of USD 300/MT.
SteelMint’s assessment for US-origin HMS (80:20) stands at around USD 303-304/MT, CFR Turkey, inching down by USD 1-2/MT against Dec-end price levels. On the other hand, assessment from Europe stands at USD 297-298/MT CFR Turkey.
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