Turkish Mills Resume Imported Scrap Bookings for Feb'20 Shipments

After remaining silent during New Year holidays, Turkish mills have resumed booking scrap cargoes for Feb'20 shipments. Imported scrap offers to Turkey observed a marginal decline in the recent bulk cargo bookings concluded this week from Baltic and South Europe origins. However, no deals from the USA have yet been concluded, while only a few North American yards offering currently, with the offers being higher than buyer's bids, as per market sources.

In recent deal reported, a Mediterranean region based steelmaker in Turkey booked a bulk vessel of 25,000 MT mixed cargo from a German scrap recycling yard, comprising of 5000 MT of HMS 1&2 (80:20) at USD 297/MT, CFR, and 20,000 MT of Shredded at around USD 305/MT CFR Turkey. The cargo shipment is expected in the first half of Feb'20.

Another deal concluded this week, in which a Denmark based scrap recycling company, sold a bulk vessel to steelmaker in Eastern Black Sea region, consisting of HMS 1&2 (80:20) at price of USD 303/MT CFR Turkey. Another Baltic origin supplier sold a composite cargo to a Marmara based mill with HMS 1&2 (75:25), Shredded, HMS1 and P&S at an average price of USD 300/MT.

SteelMint's assessment for US-origin HMS (80:20) stands at around USD 303-304/MT, CFR Turkey, inching down by USD 1-2/MT against Dec-end price levels. On the other hand, assessment from Europe stands at USD 297-298/MT CFR Turkey.