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Turkish Mill Books Baltic Scrap Cargo; Prices Inch Up

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Melting Scrap

BigMint Bureau

736 Reads

24 Dec 2019, 13:57 IST

Turkish Mill Books Baltic Scrap Cargo; Prices Inch Up

Last week the Turkish scrap market remained silent, however, this week deep-sea cargo bookings have resumed.

In recent deal concluded, a Baltic region-based scrapyard sold a bulk vessel to steel mill located in the Mediterranean region, comprising of HMS 1&2 (80:20) at USD 303/MT, CFR, shredded at USD 308/MT CFR, and bonus at USD 313 /MT, CFR Turkey. The cargo shipment is expected to be in the Feb'20.

Meanwhile, many European & USA yards remain closed for winter holidays. Imported scrap offers to Turkey have inched up by USD 3-5/MT. It is highly anticipated by the buyers & steel producers that prices may increase further in the coming days on tight supply of material.

SteelMint's assessment for US-origin HMS (80:20) stands at around USD 304/MT, CFR Turkey, up by USD 3-4/MT. However, no trades were reported from the USA since last week.