Turkey: Imported Ferrous Scrap Offers Witness Corrections in Recent Deals

Imported scrap offers to Turkey have slipped on latest deals; restocking continues.

Imported scrap offers to Turkey - world's largest scrap importer, have seen downward movement in the latest bookings done by Turkish importers.

Price assessment index for USA origin HMS (80:20) is now at USD 305/MT CFR. Offers have moved down by USD 10-12/MT on W-o-W basis as it was reported at USD 315/MT, CFR Turkey last week. Price index for premium Bonus scrap material now stood at USD 315/MT, CFR Turkey.

Shredded scrap price assessment for US origin scrap is now slipped to USD 307-310/MT CFR Turkey level. Offers witnessed fall of USD 8-10/MT than reported lastly at USD 315-320/MT on 11th Oct.

A market participant from Turkey recently confirmed that Turkish market fell back to USD 305/MT for HMS (80:20) and three more deals have reported recently at this price levels. Restocking of ferrous scrap has started as buyers are looking for more volumes of November deliveries.

Trade wise -

1. In the latest deal confirmed, one of the largest scrap recycler based in UK-EMR sold 40,000 MT ferrous scrap to ICDAS-second largest steel producer in turkey containing 20,000 MT HMS 1&2 (80:20) at USD 304/MT, CFR and 20,000 MT at USD 309/MT, CFR Turkey.

2. In a deal reported earlier, Yesilyurt Steel mill in Turkey booked a cargo of 40,000 MT ferrous scrap from Schnitzer Steel Industries based in Portland USA.The cargo comprised of 20,000 MT of HMS 1&2 (80:20) at USD 305/MT, CFR and another 20,000 MT Shredded at USD 310/MT, CFR Turkey respectively.

3. In another deal confirmed, USA based exporter sold 40,000 MT ferrous scrap in a cargo containing 18,000 MT HMS 1&2 (80:20) at USD 304/MT,CFR ; 10,000 MT Shredded at USD 309/MT, CFR and 12,000 MT P&S at USD 314/MT, CFR Turkey.