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Platts EMEA Turkish Ferrous Scrap Daily Rationale

Wednesday, 21 October 2020

S&P Global Platts assessed Turkish imports of premium heavy melting scrap 1/2 (80:20) at $290/mt CFR on Oct. 21, unchanged on day.

One Turkish mill source cited a tradable value for premium HMS 1/2 (80:20) at $290/mt CFR, while a Turkish agent source cited a tradable value for US/Baltic-origin HMS 1/2 (80:20) at $290/mt CFR minimum, with mills unwilling to pay more.

The agent source also cited an offer for EU-origin HMS 1/2 (80:20) at $287/mt CFR, while an EU recycler said $285/mt CFR minimum was workable for EU-origin HMS 1/2 (80:20). A second EU recycler also said $285/mt CFR was workable for EU-origin material.

A Turkish trading source cited an indicative tradable value for US-origin HMS 1/2 (80:20) at $289-$290/mt CFR, and an indicative offer for Russia-origin HMS 1/2 (80:20) at $295/mt CFR. A second Turkish trading source said $289-$291/mt CFR was workable for premium material, also citing a Baltic-origin offer at $295/mt CFR.

Market chatter regarding a Russia-origin sale of an HMS 1/2 (95:5) cargo to an Iskenderun mill at $298/mt CFR could not be confirmed at the time of publication, but sources said the cargo, if confirmed, would normalize to $289-$290/mt CFR for HMS 1/2 (80:20), based on previous sales.

No data were excluded from the assessment.

The above rationale applies to Platts-TSI assessment of Turkish premium deep sea HMS 1/2 (80:20) imports, with the associated market data code: TS01011

-- Staff

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