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Kallanish Kallanish

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April, 18th 2021

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FEB 25
14:17

Turkey buys more scrap cargoes, lifts prices higher

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Turkish producers have continued to buy imported scrap cargoes, lifting prices up further, Kallanish notes.

Three fresh imported scrap bookings were heard on Thursday. A Turkish mill in the south bought a cargo from a European supplier at average $453/tonne cfr Turkey for 15,000 tonnes of HMS 1&2 75:25, 10,000t of shredded, 5,000t of busheling and 10,000t of P&S.

Two other mills in the south bought cargoes from the US. While the HMS 1&2 80:20 price stands at $451/t in the first booking, it appears at $454/t cfr in the other. Shredded scrap, meanwhile, rose to $464/t cfr in the second transaction.

Offer prices are seen to have increased further following these bookings. Baltic and US suppliers are now heard offering HMS 1&2 80:20 at above $460/t cfr Turkey.

On the short-sea scrap market, ex-Romania and ex-Russia offers stand at $440-445/t cfr and $455/t cfr respectively, while ex-Bulgaria offers are at $435-440/t cfr.

Meanwhile, some Turkish mills further hiked their domestic shipbreaking and new cutting scrap buying prices on Thursday.

Burcak Alpman Turkey