Posted on 20 Feb 2023
Demand in the Turkish scrap market showed a significant improvement on Friday. Even some southern mills that are yet to resume production following the earthquake are inquiring about scrap.
Following the US-origin deal at $413/tonne cfr Turkey earlier last week, a northern mill has bought EU-origin HMS 1&2 80:20 at $412/t cfr. A Baltic-origin supplier sold HMS 1&2 80:20 at $414/t cfr, while a southern mill bought US-origin HMS 1&2 80:20 at $420.5/t and shredded and bonus grade at $440.5/t cfr.
Sentiment in the Turkish market has improved following the Turkish government’s determination to start the reconstruction of earthquake-hit cities in 3-4 months.
With the revival in demand, a Baltic-supplier is heard targeting $430/t cfr for HMS 1&2 80:20, while another supplier from the same region has offered at $435/t cfr.
One supplier tells Kallanish: “Scrap prices were firm and expected to increase. This is happening with a delay due to the US-origin deals at lower prices at the beginning of the [last] week.”
A Marmara mill is confirmed to have booked Romania-origin HMS 1&2 80:20 at $404/t cfr, while other mills have given bids for short-sea scrap at below $400/t cfr.
Meanwhile, shipbreaking scrap prices have seen the first update since the earthquakes. While one mill is keeping its shipbreaking scrap buying price unchanged at $390/t, the other three mills are seen paying $415-418/t delivered.
Source:Kallanish
