Reduced rates still offered for Turkish import scrap

Posted by Ibrahim Gram on January 20th, 2021

View was split between buyers as well as vendors for the Turkish import scrap market on Tuesday, but trading showed that reduced costs were still available to Turkish buyers. A UK-origin sale was heard to an electric arc furnace-based manufacturer in the Marmara region. The full cargo contained 30,000 mt of 80:20 at 6.50/ mt and also 10,000 mt of bonus at 6.50/ mt. The timing of the cargo was contested, with some sources positioning it close to similar degrees seen recently, yet a source near the transaction confirmed the cargo as wanting those sales-- putting it as one of the most recent out there. Some normalization concerns were listened to, as sources claimed product from this provider carried a discount rate of -/mt versus various other sellers, putting it in a variety of 1.50-6.50/ mt when stacked versus exceptional quality 80:20. Two other offers were heard from an additional UK lawn at 2/mt as well as 3.50/ mt for the 80:20 sections, but both were securely routed in last week. Neither might be used in the evaluation, however, as a source close to the purported purchase rejected that the professions had been done. Further talk originated from a representative in Turkey for a European distributor, that stated that a Baltic supplier had actually sold to an EAF-based manufacturer in Iskenderun between 5-7/mt. Possible assistance for the profession originated from a Turkish producer, who had heard a supplier was offering in Iskenderun at 0/mt. Details wanted to confirm the profession, nonetheless, and both resources were approved as market estimates. Vendors were solid early Monday that increases would be unpreventable, based on reduced product availability compeling sellers to approve greater deals out there. The repeatability of sales at the level of UK sellers was disregarded by providers in continental Europe as they would certainly be overcome collection while fulfilling these bids. Mills were firm in their persistence on lower pricing, claimed a Turkish purchaser. "We never ever believed to provide greater than 5/mt. dtpmp na7 over that was just expectations of sellers yet it did not function," he claimed. An elevation of 0/mt was found last week, with assumptions continuing to be that the market might return to this degree, depending on the availability of less expensive cargoes. Platts analyzed HMS I/II 80:20 CFR Turkey at 2.50/ mt on Tuesday, down .50 from Monday.

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Ibrahim Gram

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Ibrahim Gram
Joined: January 20th, 2021
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