Imported scrap prices to Turkey, moved up in a recent couple of deals reported from UK, North Europe and the USA, after falling to a three months low price level in a downtrend since Jan’20. The Turkish market has become active in terms of bookings at favorable prices, after a subdued January’20.
Among the latest deals confirmed yesterday, a UK scrap recycler, sold a bulk cargo to a West Marmara based steel mill, comprising of HMS (80:20) at USD 255/MT, Shredded at USD 260/MT and bonus at USD 265/MT CFR, Turkey. The cargo shipment is expected to be in March’20.
Another deal concluded in which, steelmaker based in East Marmara booked a bulk cargo, which comprised of HMS 1& 2(80:20) at USD 250/MT and bonus at USD 260/MT CFR, Turkey. The deal was concluded from the Baltic origin scrap recycling yard with a prompt shipment basis, while the cargo shipment is expecting in Feb’20 end.
A Mediterranean region based steel mill booked a bulk vessel from another Baltic origin scrap yard, comprising of 15000MT of HMS, 10000 Mt of shredded and 7500 MT of bonus at an average price of USD 261.50/MT CFR Turkey.
Earlier this week, the same Mediterranean region based steel mill booked a bulk vessel from a scrapyard located in the USA. The cargo comprised of 21000 MT of HMS (80:20) at USD 260/MT, 3000 MT of Shredded at USD 265/MT and 6000 MT of P&S at USD 270/MT for the Feb’20 Shipment.
After normalizing the latest deals, SteelMint assessment for the USA origin scrap HMS 1&2 (80:20) stands at around USD 260/MT CFR Turkey, increasing by USD 5/MT as against price reported in mid of the week. However, offers from European origin stands at around USD 255/MT, CFR Turkey.
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