Turkey: Imported Scrap Prices Fall by USD 15 in Recent Deals

Imported scrap prices to Turkey have dropped again by a sharp margin, as a recently concluded deep-sea booking were confirmed to be contracted at the lowest price witnesses in the last 3 and a half years.

In the latest bulk deal confirmed, a Denmark based scrap recycler sold a bulk cargo to an Eastern Black sea region based steel maker. According to SteelMint's reliable source, the composition of a bulk cargo is yet to be fixed, however, it is anticipated as per market sources that the price level for HMS 1&2 (80:20) is assessed at around USD 207-208/MT CFR Turkey for HMS 1&2 (80:20).

Prior to this, a few days back, another scrap yard from Sweden sold a bulk cargo to a Western Marmara based steel mill, comprising entirely of HMS 1&2 (80:20) at USD 207/MT CFR.

According to SteelMint's assessment, the prices have plunged by over USD 17/MT. Currently, USA origin scrap HMS 1&2 (80:20) stands at around USD 210-211/MT CFR Turkey, while assessment from European origin stands at around USD 205/MT, CFR Turkey. These are the lowest Price levels observed since Sep'16 for imported scrap to Turkey.