Turkish Imported Scrap Prices Rise by USD 10 in Recent Baltic Deal

Imported scrap prices to Turkey continue to move up in recent booking, shared by a SteelMint's reliable source. Tight supplies and lower collection rates have continued to push up price levels. However, ongoing COVID-19 lockdown has kept many steelmakers away from the market.

In a recent concluded deal, a Baltic region based scrap supplier sold a 35,000 MT of bulk cargo to a steelmaker based in Maramara region, Turkey. The cargo comprised of HMS (80:20) at an average of USD 255/MT CFR Turkey and P&S at USD 265/MT CFR Turkey.

Prior to this, a confirmed deal in which, a recycling yard from Russia, sold a bulk cargo to a Turkish steelmaker based in Eastern Black Sea Region, comprising of HMS 1&2 (90:10) at USD 248/MT CFR Turkey.

After normalizing the latest deal, SteelMint's assessment for USA origin HMS 1&2 (80:20) now stands at USD 258/MT CFR Turkey, rising by USD 8-10/MT against last week's closing, while in comparison to early last week.