Turkey: Imported Scrap Prices Hit USD 300/MT

Amid the incessant rising trend in the global scrap prices, offers of imported scrap to Turkey continued to rise further every day. After rising by USD 8-9/MT is the previous few days, another couple of deep-seas cargo bookings were concluded today at prices up by another USD 3/MT with buyers remaining particularly active for restocking this week.

Among the latest deals concluded, a West Marmara region based steelmaker in Turkey concluded a bulk vessel from the USA based scrap recycling yard booking a mixed cargo comprising of HMS 1&2 (80:20) at USD 300/MT, CFR, Shredded at USD 305/MT and bonus at USD 310 /MT, CFR Turkey.

Another Baltic origin yard concluded a composite cargo comprising of HMS 1&2 (80:20) at USD 298/MT and Bonus Scrap at USD 308/MT CFR Turkey.

Prior to this, earlier this week another Turkish steelmaker from West Marmara concluded a bulk vessel from a recycler in the USA, with 40,000 MT of mixed cargo, comprising of HMS 1&2 (80:20) at USD 297/MT, CFR, Shredded at USD 302/MT and bonus at USD 307 /MT, CFR Turkey.

After normalizing today's deals, SteelMint's assessment for US-origin HMS (80:20) now stands at USD 300/MT, CFR Turkey, further up by USD 3/MT against yesterday, while having increased USD 10-11/MT since the opening of the week. The assessment from Europe presently stands at USD 295/MT CFR.