Turkish steel mills resume scrap purchases, import prices stabilize

publisher: Gloria Wong
Time: 2019-01-14
Summary: Industry news on January 8 said that after a brief period of quiet silence, Turkish steel producers have now resumed deep sea scrap purchases. The three steel producers imported four batches of deep-sea scrap from the US and Europe at prices similar to those of previous transactions.

A steel mill in the Iskenderun region of Turkey ordered aUS-made scrap, containing 17,000 tons of CFR at a price of US$280/tonne No. 2mixed heavy-melt scrap (80:20) and a CFR price of 8,000 tons. It is $285/ton ofcrushed material and 5,000 tons of P&S structural scrap with a CFR price of$290/ton. Another steel mill in the region also ordered a US-made scrap, whichincluded 18,000 tons of CFR quoted at $280/tonne No. 1 No. 2 mixed heavy-meltscrap (80:20) and 12,000 tons of CFR quoted at $285/ Tons of broken material. Theplant also ordered a vessel with a European CFR price of $273/tonne No. 1 No. 2mixed heavy melting scrap (80:20). However, the specific weight of the shipmentwas not clear at the time of this press release. A steel mill in the Mararegion also ordered a No. 2 mixed heavy melting scrap (80:20) containing 20,000tons of CFR at $273/tonne.

These transactions have made the reference price of importedTurkish scrap on January 8 basically stable. The CFR reference price for NordicNo. 1 No. 2 mixed heavy melting scrap (80:20) is US$271.38/ton, which is onlyUS$0.23/tonne. The CFR reference price of US No. 1 No. 2 mixed heavy meltingscrap (80:20) is US$279.84/ton, and the daily growth rate is also US$0.23/ton.

Therefore, on January 8, the premium of US mixed heavy wasteresources compared with the Nordic peers was at US$8.46/ton, and the priceremained stable.

Previous:Steel prices are facing downward pressure in 2019

Next:Indonesia cuts its 2019 production target to stabilize global coal prices