After rather long period of silence new import scrap deals have been finally heard in Turkey. According to market sources a Marmara region-based mill has purchased two deep-sea lots.
One cargo consisting in 20,000 mt of HMS I/II 90:10, 8,000 mt of shredded and 2,000 mt of bonus grade was agreed on at $305/mt CFR average and will be shipped from the US in February. According to this sale the HMS I/II 80:20 scrap price is estimated by most players at $301/mt CFR, by $1/mt up from the previous transaction. Sources believe that US buyers might try to insist on higher levels from now on, taking into account the expected strengthening of local scrap market in the US.
Another lot has been purchased from Netherlands. The cargo to be shipped in February consists of 17,000 mt of HMS I/II 80:20 at $297/mt CFR and 8,000 mt of bonus grade at $307/mt CFR, SteelOrbis has learned. The previous two sales from the EU were closed to Turkey in mid-December within $297-300/mt CFR, as was reported earlier.
The level of Turkey’s bids for import scrap decreased, but scrap suppliers are not eager to provide sizeable discounts for now. Next week is expected to be quite active in terms on negotiations once the holiday period is over.