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Monday, February 10, 2020 - 10:46:29 AM
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Mining News Pro - Imported scrap prices to Turkey continue to move down further, as another couple of deals concluded recently were confirmed today. Buyers in Turkey were already bidding at lower price levels since the last few days, while continued weak steel sentiments suggest that further downslide in offers are expected in the coming days.
According to Mining News Pro - In the latest deals confirmed, a USA based recycler sold a Bulk cargo to an East Marmara region based steelmaker, comprising of 15,000 MT of HMS 1&2 (80:20) at USD 267.5/MT and 15,000 MT of Shredded scrap at USD 272.5/MT CFR Turkey. Notably this is the first bulk booking from US in over a month that consist of Shredded cargo, while the shipment is epected for Feb-end.
Another recent bulk boking included an Aegean region based steelmaker booking a Cargo from a Sweden based recycling yard, consisting of 7000 MT of HMS 1&2 (80:20) at USD 270/MT, 20,000 MT of Shredded at USD 275/MT and 3,000 MT of bonus grade at USD 280/MT CFR Turkey, for February shipment.
On normalizing the latest deals, SteelMint’s assessment for USA origin HMS 1&2 (80:20) stands at USD 268/MT CFR Turkey, down USD 4/MT against last week’s report, while assessment from Europe stands at USD 263/MT CFR.
Prior to this, another eastern Marmara region based steelmaker had booked a deep sea bulk vessel early last week, comprising of 30,000 MT of HMS 1&2 (90:10) from a USA recycling yard at USD 275/MT CFR Turkey (translating to USD 272/MT for HMS 1&2 (80:20)
Rebar export offers from Turkey, currently stand at USD 425-430/MT FoB, as against USD 445-450/MT levels in the beginning of Jan’20, on weak sentiments.
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https://www.miningnews.ir/En/News/486895
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