DAILY STEEL SCRAP: Prices up by $15/tonne after latest US deal
Turkish steel scrap prices continued to rise on news of another cargo from the US on Monday February 22, which also led to a knock-on increase in finished steel and billet prices, sources told Fastmarkets.
A steel producer in the northern Turkey booked a US cargo, comprising shredded at $440 per tonne and bonus at $445 per tonne cfr on Saturday February 20. The cargo composition has not yet been set, a supplier agent source said.
The previous deep-sea transaction from the US took place on February 17, at $418 per tonne cfr on an HMS 1&2 (80:20) basis.
Shredded scrap traditionally trades at $5 premium over HMS 1&2 (80:20).