SteelMint learned from market participants that imported scrap prices to Turkey surged up sharply by USD 10/MT, with the recent deep-sea cargo booking concluded yesterday from Baltic origin. It is expected that offers may increase further in the coming days on supply tightness from yards amid winters.
In recent deal reported, a Turkish steelmaker based in Mediterranean region booked a bulk vessel of 27,000 MT cargo from a Baltic based scrap recycling yard, comprising of 24,000 MT of HMS (80:20) at USD 280/MT and 3,000 MT of bonus at USD 290/MT, CFR Turkey. The cargo shipment is expected to be done in January 2020.
Prior to this, in the latter half last week, a West Marmara based steelmaker, had booked a bulk vessel of 40,000 MT from a US based scrap yard, comprising of HMS 1&2 (80:20) at USD 272/MT CFR and Shredded at USD 277/MT CFR.
With this deal, SteelMint’s assessment for US origin HMS (80:20) climbed to USD 282/MT, CFR Turkey, up by USD 10/MT against the closing of last week, while the assessment from Europe currently stands at USD 277/MT CFR.
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