Turkey: Imported Scrap Prices Inch Up as Trades remain Slow

After staying majorly unchanged for around 2 weeks, imported scrap prices to Turkey have marginally inched up, after a couple of deep-sea cargo bookings completed in the recent days, SteelMint learned from market participants On account of very active bookings earlier in Oct'19, the buying activity now has slowed down in the last few weeks, even as the prices have more-or-less remained flat after rebounding by USD 32-33/MT in the previous month.

In recent deal reported, a West Marmara-region based steel maker booked a bulk vessel of 30,000 MT cargo from a Baltic origin supplier, which comprised of 25,000 MT of HMS 1&2 (80:20) at USD 261/MT CFR Turkey and 5,000/MT of Bonus at USD 271/MT CFR.

Earlier this week, another recycler from the baltic region sold a 32,500 MT cargo to major Turkish steel mill from the Mediterranean region, comprising of 20,000 MT of HMS 1/2 (75:25), 7,500 mt HMS1/P&S and 5,000 mt busheling at an average price of USD 262/MT, where the HMS 1&2 (80:20) was calculated at USD 261/MT CFR.

Prior to this, at the opening of the previous week, an Aegion region mill concluded a bulk vessel from a Baltic recycler, comprising of 25,000 MT HMS 1&2 (80:20) at USD 259.5/MT CFR, and 5,000 MT of bonus scrap at USD 269.5/MT CFR Turkey.

As per SteelMint's methodology, assessment of US-origin HMS 1&2 (80:20) scrap has inched up marginally by USD 2-3/MT W-o-W and stands at USD 263/MT, CFR Turkey, against the last report. The assessment of European origin HMS 1&2 (80:20) now stands at around USD 258/MT, CFR Turkey.