Prices into Turkey moved up after new deep-sea cargo bookings, which also helped to push up export scrap prices from the United States. Good demand increased scrap prices in Asia, while India made gains to recover weeks of losses.
On Monday, a steel mill in the Izmir region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 5,000 tonnes of bonus at $297 per tonne cfr.
This cargo sent the daily indices sharply upward on Monday. Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) was calculated at $283.76 per tonne cfr on January 21, up by $9.55 per tonne day on day, from $274.21 per tonne cfr on January 18.
On Wednesday, a deep-sea cargo booked late the previous week came to light. A steel mill in the Iskenderun region had booked a US cargo, comprising...