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US HMS Price for Turkey Rebounds by US$ 10 from The Lowest Price
= The 80/20 HMS mix increased to US$ 353 CFR =
After the Western ferrous scrap market for Turkey had touched the bottom, it increased gradually. The new contract of the mix of 80% No1 HMS/20% No2 HMS or the 80/20 HMS mix from U.S. EC for Turkish electric steelmaker was concluded at around US$ 353/ton CFR or exceeded US$ 350 by the end of last week. The range of price increase from the recent lowest price expanded to US$ 10 level.

The size of the above-mentioned bulk cargo was 45,000 tons level. The prices of the items were as follows. The 80/20 HMS mix was US$ 353/ton CFR. Shredded grade was US$ 358/ton CFR, up by US$ 5 from the 80/20 HMS mix, and P&S steel scrap was US$ 363/ton CFR, up by US$ 10 from the 80/20 HMS mix.

The contract of Baltic Sea bulk cargo for Turkish electric steelmaker was also concluded at the same price as the above-mentioned bulk cargo. The 80/20 HMS mix was US$ 353/ton CFR. Shredded grade was US$ 358/ton CFR, and P&S steel scrap was US$ 363/ton CFR.

Turkish electric steelmakers seem to pause procuring bulk cargoes for March shiploading by last week. It is pointed out that new deals would be deadlocked for a while. Because the U.S. shippers are still bullish sentiment, it is expected that the market would keep upward trend for a while.
last modified : Mon 26 Feb, 2018 [10:06]
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