After a couple of fresh bulk cargo bookings confirmed yesterday, Imported scrap prices to Turkey have slid down further amid continued downturn since last week. The latest deals will give further direction to the global scrap market which were disrupted after the sudden fall in last week’s booking.
In the latest booking concluded yesterday, a Mediterranean region based steelmaker has booked a 28,000 MT bulk vessel from the UK branch of a global recycler comprising of HMS 1& 2 (80:20) scrap at USD 277/MT CFR Turkey, for February end shipment.
Some other short-sea deals concluded this week included two different recyclers from South East European origins selling bulk cargo to two East & West Marmara region based steel mills respectively, comprising of HMS 1& 2 (80:20) at USD 270 /MT and USD 268 /MT CFR levels respectively.
On normalizing the latest transactions, SteelMint’s assessment for USA origin HMS 1&2 (80:20) currently stands at USD 282-283/MT, down by USD 5-6/MT against last week closing, while assessment for UK/Eurpoe stand at USD 277/ MT CFR.
Prior to this last week, an eastern Marmara based major steelmaker has booked a bulk vessel of 35,000 MT of cargo, comprising of HMS 1&2 (95:5) at a price of USD 295/MT CFR, putting HMS 1&2 (80:20) at around USD 288/MT CFR Turkey.
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