Reference price indices for all grades of scrap have hiked by USD 5-10/MT on W-o-W basis; several trade deals reported at increasing prices this week.
Imported ferrous scrap market in Turkey has been witnessing stronger buying sentiments this week. On recent trade deals carried, average prices for cargoes containing mixed grades scrap have crossed USD 310/MT levels. Offers are climbing up steadily since last 2-3 weeks in Turkey and now suppliers are expecting for further hike of USD 5-10/MT in present price levels.
Price assessment index for USA origin HMS (80:20) now is at USD 310/MT CFR.Offers have moved up USD 6 than reported earlier at 304/MT, CFR levels. Price reference index for premium Bonus scrap materials are now at USD 320/MT, CFR Turkey with a lift of USD 10/MT on W-o-W basis.
Price assessment for Shredded scrap is now at USD 315/MT CFR Turkey level. Offers for Shredded have also seen the hike of USD 5-8/MT against levels reported at USD 307-310/MT, CFR last week.
A participant from market shared with SteelMint that- “Turkey scrap market is quite positive this week, several trade deals for imported scrap were booked by Turkish buyers though suppliers remained quoting at the levels higher than last week. There is room for further hike ahead of upcoming winters and tightening in scrap availability.”
Trade wise –
1. In the latest deal confirmed, a steelmaker from Karadeniz region booked a mixed cargo for 32,000 MT scrap from Sweden containing 13,000 MT HMS 1&2 (80:20) at USD 310/MT CFR, 13,000 MT Shredded at USD 315/MT and 6,000 Bonus at USD 320/MT CFR Turkey.
2. One more cargo from recycler based in Belgium was booked by an importer in Turkey containing 38,500 MT scrap at an average price of USD 309/MT, CFR Turkey containing 22,000 MT HMS 1&2(80:20), 8,000 MT Shredded, 2,500 MT Busheling and 6,000 MT P&S respectively.
3. Two mix cargoes from Saint Petersburg, Russia were sold to Marmara region based leading steel makers in Turkey containing 35,000 MT and 36,000 MT each at around USD 307-308/MT for HMS 1&2 (80:20) this week.
4. Three more cargoes each of 30,000 MT scrap were sold by various sellers from Baltic region to Turkish importers for HMS 1&2(80:20) around USD 310/MT, Shredded at USD 315/MT and Bonus around USD 318-320/MT, CFR Turkey respectively.
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