Ferrous scrap prices to Turkey slip after latest Baltic, European sales


Sales of ferrous scrap to Turkish steelmakers have slipped in price after the latest clutch of cargoes seen on the market, as Baltic-origin and European material showed some weaker signs, market participants said Monday.

A cargo containing 25,000 mt of A3 demolition material ex-St Petersburg was booked at $377/mt CFR Iskenderun by a large electric arc furnace producer, market participants said. This cargo went through late August 16.

Other cargoes included a sale from a global recycler to another Iskenderun-based mill at $375/mt CFR for 18,000 mt of HMS I/II (80/20 blend) and 18,000 mt of bonus at $392/mt CFR.

Meanwhile, a UK recycler managed to finalize a deal with a third South Turkey-based EAF at $375.50/mt CFR Iskenderun for 13,000 mt of HMS I/II (80/20 blend) and 12,000 mt of shred.

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Beyond these sales, a Belgian recycler managed to sell 25,000 mt of HMS I/II (75/25 blend), 10,000 mt of HMS I and 5,000 mt of shred at an average price of $373/mt CFR Marmara.

Platts' daily assessment moved down $3/mt to reflect the above market activity, finishing Monday at $377/mt CFR Turkish ports for premium heavy melting scrap I/II (80/20 blend).

Market sentiment has been a little more bearish as the US home market showed weakness towards the tail-end of last week and the Chinese iron ore import market has also dipped after a rally earlier last week.

Source from : Platts