Turkey: Imported Scrap Prices Rise by USD 10 in Recent Deals

Turkish imported scrap prices have continued to surge for another week with a couple of deep-sea bookings from Baltic origins being concluded at higher prices in the last few days, SteelMint learned from market participants. The Turkish market has been very active for scrap bookings since the last week even amid continuously rising offers from global suppliers over tight supply during winters.

In latest deals reported, a Marmara region-based steelmaker concluded a bulk vessel today from the Netherlands division of a global supplier, booking 28,000 MT of mixed cargo comprising of 19,000 MT of HMS 1&2 (80:20) at USD 251.50/MT CFR, 5,000 MT of shredded at USD 261.50/MT and 4,000 MT of bonus at USD 266.50/MT CFR Turkey.

Another deal was heard for prompt October shipment in which HMS (80:20) was sold at USD 243.5/MT, CFR and bundles at USD 260/MT, CFR.

Prior to this, another deal was concluded at closing of last week on 19th Oct’19 where a steelmaker in West Black Sea region had booked a mixed bulk cargo of HMS 1&2 (80:20) at USD 244/MT, Shredded at USD 249/MT & bonus at USD 254/MT from another Baltic origin recycler, while the shipment is expected in November. Another booking for prompt shipment in October involved an East Marmara mill booking HMS 1&2 80:20 for USD 244/MT and busheling bundles at USD 260/MT CFR from another Baltic supplier.

As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap has now escalated to USD 253/MT, CFR Turkey, increasing by USD 8-9/MT against last week. The assessment of European origin HMS 1&2 (80:20) now stands at around USD 248/MT, CFR Turkey.

The average Price for Turkish scrap imports has now sharply increased by USD 26-28/MT in just 3 weeks.