Turkish steel mills continued to book deep-sea steel scrap cargoes for February shipment at increasing prices, which are being driven up by improving steel and billet values, sources said on Wednesday December 9.
*** Steel scrap , European cargo
A steel mill in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) and 15,000 tonnes of a mixture of bonus, busheling and plate & structural (P&S) at an average price of $385 per tonne cfr.
The cargo was scheduled to be shipped in the first half of February.
Market participants said the HMS 1&2 (75:25) element of the cargo was about $377-378 per tonne cfr.
The previous deep-sea deal to go into the index calculation was sold at $375 per tonne cfr on an HMS 1&2 (80:20) basis from the Baltic Sea region on December 5.
*** Baltic Sea-origin material
Baltic Sea-origin material traditionally trades at a premium over European material, with HMS 1&2 (80:20) also usually trading at a premium over HMS 1&2 (75:25).
The daily scrap indices, therefore, went up sharply on Wednesday December 9.
*** steel scrap
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $380.43 per tonne on December 9, up by $12.49 per tonne from Tuesday’s calculation.
And the daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $388.90 per tonne on Wednesday, also up by $12.49 per tonne day on day, leaving the premium for US material over European scrap at $8.47 per tonne on December 9.
Steel mills, meanwhile, continued to raise their rebar and billet prices for local and overseas customers.
In the Marmara region, mills were offering rebar to the local market at 5,190-5,253 lira ($664-673) per tonne ex-works, including 18% VAT.
*** price assessment for rebar
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 4,900-5,030 lira ($625-641) per tonne on Thursday December 3, up from the 4,800-4,850 lira per tonne of previous week.
Steel producers in Turkey raised their offers for exported rebar to $565-580 per tonne fob levels on an actual-weight basis, while Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $530-535 per tonne on December 3.
And a steel mill in the Iskenderun region was heard selling billet to local customers at $540-545 per tonne ex-works, which was also up compared with the weekly price assessment for steel billet, domestic, exw Turkey at $۵۱۰-۵۱۵ per tonne on December 3.
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