Turkey Scrap Importer Books US Cargo
Mining News Pro - Imported scrap market in Turkey observed fresh deal from USA with steel mills actively look for December and end-November shipments. However, participants maintained outlook of imported scrap prices bullish.
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According to Mining News Pro -Imported scrap market in Turkey observed fresh deal from USA with steel mills actively look for December and end-November shipments. However, participants maintained outlook of imported scrap prices bullish.

Market witnessed several scrap cargoes reported from Europe and Baltic origins in the last one month time but during the same period USA suppliers were less active amid strong domestic demand and slow collection rates.

As per latest reports, in the recent deal confirmed the Marmara based importer sold one USA origin cargo comprising 33,000 MT of HMS 1&2 (80:20) at USD 331/MT, 5,000 MT of Shredded at USD 336/MT and 2,000 MT of Bonus grade at USD 341/MT, CFR Turkey.

According to SteelMint’s price assessment, USA origin HMS (80:20) scrap stands at around USD 331/MT, CFR Turkey. While HMS 1&2 (80:20) from European origin stands at USD 322-323/MT, CFR almost stable against the last report. Premium for US material over Northern European scrap stands at USD 8-9/MT.

The recent cargo booked at slightly improved prices as compared with the last cargo heard from USA which was reported on 2nd Oct’18 comprising HMS 1&2 (80:20) at USD 327/MT, Shredded at USD 332/MT and Bonus at USD 337/MT, CFR Turkey.

Offers from few suppliers in USA and Baltic region remained at USD 335/MT,CFR levels. While market anticipation is that these levels may achieve in next couple of days.

Turkish domestic scrap prices showed slight downtrend with improving lira over past couple of weeks. Relations between Turkey and USA are now improving and lira started regaining its value however, prices still remain in line with imported scrap in Turkish domestic scrap market. A leading steelmaker in Izmir region heard to have lowered local scrap purchase prices by TRY 80/MT (USD 14) recently.

Turkish Lira remains fluctuating in a weeks’ time - Exchange rate USD/TRY stands at 5.73 today as against 5.53 on 18th October, witnessing depreciation of around 4% in last one weeks’ period.

Turkish rebar market remains subdued - Prices heard stable in the range of USD 495-500/MT, FoB Turkey as trades remained very dull again this week. Non recovery in prices has put profit margins for steelmakers under pressure which may even pause their production for time being.

Turkish ship breaking market observes no significant movement - Local ship breaking plate offerings remain suspended at stable levels as no fresh sale was reported in Aliaga market. Few recyclers in Turkey started offering competitively for small tonnages amid firm offerings at Indian subcontinental shores.

 


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