A beginning of new scrap buying rounds in Turkey has unfolded during this week and the buyers resumed fresh bookings.
Prices for Turkish ferrous scrap imports have noticed a sharp lift this week, lifting it upward by USD 10-11/MT W-o-W.
Market participants are expecting US scrap prices to also move up owing to strong demand in Turkish domestic market. It is to be noted that domestic rebar offers in Turkey have strengthened by USD 20-30/MT in last one month.
Turkey Scrap Trade Updates: Week 31
1. A trade deal was concluded for 40,000 MT scrap with average price at USD 316.75 /MT, CFR Turkey between Poland based scrap recycler-Euroscrap and Turkish steel maker ICDAS. Cargo comprised of 25,000 MT HMS (75:25) sold at an average price of USD 311.50 /MT, CFR along with 12,000 MT Bonus at USD 326.50 /MT, CFR and 3,000 MT Shredded scrap sold at USD 321.50 /MT, CFR.
2. Another deal that has been heard between Galloo-metal recycler in Europe and Bastug(Metal Melter with Unique telescopic EAF,turkey)for a cargo containing 40,000 MT scrap at an average price of USD 320 /MT, CFR. The cargo contained 20,000 MT HMS (75:25); 5,000 MT Shredded; 15,000 MT HMS 1 &Bonus.
3. A fresh deal concluded between Van Heyghen-Europe based steel company and Bastug-Turkey based steel maker for 40,000 MT scrap, comprising of 20,000 MT HMS 1&2 (75:25), 15,000 MT Bonus and 5,000 MT Shredded averaged at USD 320 /MT, CFR Turkey.
4. EMR a global leader in the metal recycling was heard to have concluded two deals this week, One deal was comprised of 35,000 MT Holland origin scrap sold to ICDAS, Turkey which had 25,000 MT HMS 1 & 2(75:25) and 10,000 MT Shredded and averaged at USD 315 /MT, CFR while another was made to Bastug Metallurgy. The deal comprised of HMS 1&2 (80:20) at an average of USD 317 /MT, CFR, Turkey.
5. Another deal for full Shredded cargo was settled between Stena and Bastug at an average price of USD 324.50 /MT, CFR Turkey.
Leave a Reply