Turkey: Imported Scrap Price Further Up by USD 5

Turkish imported scrap prices move up further in fresh deals concluded recently. Imported scrap market of Turkey continues to strengthening amid active bookings being witnessed since Feb 2nd week as mills restock actively for March'20 shipments.

In the latest confirmed deal, a Mediterranean region based steel maker booked a bulk cargo from another USA based scrapyard. The cargo comprised of 20000 MT of HMS 1&2 (90:10) at USD 282.50/MT (putting HMS 1&2 (80:20) at USD 279-280/MT) and also included 5000 MT of shredded at USD 285/MT, and 5000 MT of bonus at USD 290/MT, CFR Turkey.

Earlier this week, a Marmara region-based steel mill concluded a deal from a Baltic origin scrap dealer, with the bulk cargo comprising a total of 25000 MT of HMS 1&2 (80:20) at USD 276/MT and bonus at USD 286/MT, CFR Turkey. The cargo shipment is being expected to be in March'20.

After normalizing the latest deal, SteelMint assessment for the USA origin scrap HMS 1&2 (80:20) stands at around USD 280/MT CFR Turkey, successively increasing by USD 5/MT against the closing of the last week. Assessment from European origin stands at around USD 275/MT, CFR Turkey.