SteelMint learned from industry participants that Turkish imported scrap prices have come under pressure as steelmakers booked a couple of deep-sea cargoes recently. Scarce demand for Turkish finished steel persists in the global market, consequently inching down imported scrap prices further.
In recent deals confirmed, a leading supplier in the US sold a cargo to Marmara based major steel maker comprising 3,000 MT of HMS 1&2 (80:20) at USD 276.5/MT, 20,000 MT of Shredded at USD 281.5/MT and 22,000 MT of P&S scrap at USD 286.5/MT, CFR Turkey respectively.
A UK origin supplier sold another cargo comprising 25,000 MT of HMS 1&2 (80:20) at USD 272.5/MT and Shredded scrap at USD 282.5/MT, CFR Turkey, this cargo is scheduled for 20th September shipment
As per SteelMint’s methodology, an assessment of US-origin HMS 1&2 (80:20) scrap has inched down to USD 276-277/MT, CFR Turkey against the last report of USD 278-280/MT, CFR mid of the week. While assessment of European origin HMS 1&2 (80:20) currently stands at USD 272-273/MT, CFR Turkey. Prices have moved down by USD 8/MT over the week’s time.
Prior to this, a European cargo was booked comprising 16,000 MT of HMS 1&2 (80:20) at USD 272.5/MT and 4,000 MT of Bonus scrap at USD 282.5/MT, CFR Turkey. This was ready delivery cargo indicating prices for regular shipments to expect lesser than these levels and suppliers were willing to sell at lower prices. On the other hand, steelmakers maintained their bids in the range USD 270-275/MT, CFR Turkey.
Turkish rebar export prices remained in the range USD 440-450/MT, FoB correcting marginally amid limited trades being reported this week.
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