DAILY STEEL SCRAP: Increasing prices push mills away from deep-sea market

Turkish steel mills skipped the last working day of the week, with no deep-sea bookings reported and offer prices continuing to climb, sources told Fastmarkets on Friday November 13.

After booking a US cargo at $306.50 per tonne cfr on HMS 1&2 (80:20) basis late on Wednesday November 11, mills stepped back from the deep-sea purchases, as the suppliers started to seek higher prices. “A supplier in the Baltic Sea region [was offering] HMS 1&2 (80:20) at $320 per tonne cfr, but the overall number of offers is very low. It seems the market will remain firm,” said a trading source. Steel producers continued...


Cem Turken

November 13, 2020

16:20 GMT