Turkish imported scrap offers further plunged on recent fresh deals concluded amid buyers are continue bidding at low-level prices.
In the latest confirmed deal, a Mediterranean region based steel mill has booked bulk cargo from the Baltic origin scrap yard, comprising of 25,000 MT of HMS 1& 2 (80:20) at USD 251/MT and 5,000 MT of bonus at USD 261/MT CFR Turkey. The cargo shipment is expected in March’20.
Another deal concluded eastern Marmara region-based steelmaker has booked a deep-sea bulk vessel, from major recycler located in the USA, comprising of HMS 1&2 (80:20) at USD 262 /MT, CFR and shredded at USD 267/MT CFR Turkey.
Prior to this, a USA origin scrap recycling center sold a bulk cargo to Western Marmara based steel mill, comprising HMS 1&2 (80:20) at USD 261/MT CFR Turkey. The cargo shipment is expected in the month-end-Feb’20.
After normalizing the offers on the latest deals, SteelMint’s assessment for USA origin HMS 1&2 (80:20) stands at USD 255/MT CFR Turkey, down USD 12-14/MT against earlier this week.
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