As Turkish steelmakers continue actively booking imported scrap cargoes, prices for the same moved up in the latest couple of bookings confirmed yesterday.
In the latest deal, a major Canadian recycler sold a 30,000 MT cargo to a Mediterranean region-based steel mill, comprising of shredded scrap in entirety, at a price of USD 263/MT CFR Turkey, with the cargo likely to be shipped in July. The price level in the said deal translates to USD 258/MT CFR for HMS 1&2 (80:20) from North American origins.
Another deal included a Germany based supplier booking 25,000 MT of mixed grade cargo to a Western Marmara based mill consisting of 14,000 MT of HMS 1&2 (80:20), 5,000 MT of P&S, 3,000 MT of Busheling, and 3,000 MT of oxy Plates to a Marmara-based producer at an average price of USD 261/MT CFR Turkey. The price for HMS 1&2 (80:20) in this deal, was assessed at around USD 255/MT CFR.
SteelMint’s assessment for US origin HMS 1&2 (80:20) now stands at USD 258/MT CFR Turkey, up by USD 4/MT in comparison to deals earlier this week. Current price levels are seen at almost 2-months high as similar levels were last seen in mid Apr’20. The assessment for European origin HMS 1&2(80:20) assessment stands at USD 254/MT CFR.
The market is expecting prices to remain supported in the coming weeks, with a considerable increase in demand as many mills are looking for fresh cargo bookings, amid scrap availability still on the lower side.
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