Turkey has concluded another ex-Europe booking, with the HMS I/II 80:20 scrap price remaining stable. Market sources think that European sellers are inclined to do business at the current levels in the coming days.
SteelOrbis has learned that an ex-UK booking was done by a Marmara-based producer with the HMS I/II 80:20 scrap price standing at $384/mt CFR. The cargo will be shipped in August. This level is similar to ex-EU transactions signed on Friday, June 5.
Turkish mills still need scrap for shipment in August, while resistance is observed to higher price levels. While a few European scrap suppliers believe the current price levels are not acceptable, others are inclined to continue their sales. A source at a major Turkish mill said that sellers are willing to accept the current levels, adding, “There is no upward push for scrap. Some Turkish mills procured various materials from Asia, while others are trying to complete their needs by purchasing semis and scrap. Deep sea scrap prices will move in a narrow range, with the potential to soften slightly.”