Offers for HMS to Turkey firm at 440-450/MT CFR from U.S. Suppliers on Strong Demand

Turkish mills
continue to book ferrous scrap cargoes from U.S. exporters despite slight increment
in freight rates and flat prices. Turks are booking scrap material from U.S.
suppliers over last 3 weeks.

In a recent deal, a bulk cargo sold to Turkey
at US$ 440/MT CFR HMS 1&2 (80:20) for 20,000MT, US$ 445/MT CFR for shredded
scrap and US$ 465/MT for bonus-grade scrap (around 25,000 MT).

The same exporter sold another 4 bulk cargoes
at the same prices for heavy melt and shredded material. 3 of them were of plate
and structural scrap, which were sold at US$ 450/MT CFR Turkey.

Higher freight rates due to rising fuel costs
caused at least two other exporters to raise offer prices to Turkey to US$
443-450/MT. Though, no bookings have been done at such price.