The most recent cargo was heard at the end of the last week, when a steel mill in the Iskenderun region booked a Canadian cargo comprising 35,000 tonnes of HMS 1&2 (95:5) and 15,000 tonnes of shredded at an average price of $436 per tonne cfr.
Market participants reported a total of seven cargoes booked by Turkish steelmakers in the past week.
An eighth one came to light on Monday April 12: Another steel mill in the Iskenderun region booked a Canadian cargo comprising 20,000 tonnes of HMS 1&2 (95:5), 5,000 tonnes of shredded and 25,000 tonnes of plate and structural (P&S) at an average price of $445 per tonne cfr last week.
“The week started slow, as the producers were focusing on finished steel sales before booking more scrap,” a Turkish mill source said.
As a result of a lack of fresh transactions, the daily scrap indices remained flat at the beginning of the week.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey
was $423.29 per tonne on Monday April 12, unchanged day on day.
Fastmarkets calculated the daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey
at $429.26 per tonne on Monday, also steady day on day, leaving the premium for US material over European scrap at $5.97 per tonne.